The new Foreign Trade Policy unveiled by Hon’ble Minister of State of Commerce & Industry (IC) Ms. Nirmala Sitharaman, has laid special emphasis around the “Make in India” “Digital India and Skill India” initiatives after the New Modi Government came in said Mr. Vijay Kalantri, President, All India Association of Industries (AIAI).
AIAI further feels that SOPS to SEZ and other slew of measures to minimize documentation requirements, remove administrative bottlenecks and other similar initiatives should serve as a good beginning towards incentivizing export from India. Lastly proposing a more simplified procedure to allow units to exit abovementioned schemes also comes as a welcome relief for many exporters.
Mr. Kalantri said that the policy emphasizes the need for creating a brand image for India in the global market by promoting domestic value addition and promoting exports of value added products. Internal constraints, Infrastructure bottlenecks, transaction costs and non-digitisation has been identified by the Government as the key areas which need to be addressed to make India a significant participant in the global value chain by 2020. Key amendments have been made in this direction added Mr. Kalantri .