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Exim Policy: A Brief Introduction

The document provides an introduction to India's Export-Import (EXIM) policy. Key points: 1) The EXIM policy is regulated by the Foreign Trade Development and Regulation Act and aims to promote exports, improve trade balance, and create favorable conditions for foreign trade. 2) Objectives of the policy include establishing a framework for globalization, promoting competitiveness and quality standards of Indian industry, and facilitating access to raw materials to augment exports. 3) Six EXIM policies have been announced since the 1990s liberalization, with recent policies focusing on export promotion schemes, boosting 'Make in India', trade facilitation, and supporting women-centric exports.

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195 views

Exim Policy: A Brief Introduction

The document provides an introduction to India's Export-Import (EXIM) policy. Key points: 1) The EXIM policy is regulated by the Foreign Trade Development and Regulation Act and aims to promote exports, improve trade balance, and create favorable conditions for foreign trade. 2) Objectives of the policy include establishing a framework for globalization, promoting competitiveness and quality standards of Indian industry, and facilitating access to raw materials to augment exports. 3) Six EXIM policies have been announced since the 1990s liberalization, with recent policies focusing on export promotion schemes, boosting 'Make in India', trade facilitation, and supporting women-centric exports.

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basantsharma
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EXIM POLICY

A BRIEF INTRODUCTION
Meaning of Export – Import (EXIM) Policy

• The foreign trade of India is guided by the Export-Import policy of the


Government of India.

• Regulated by the Foreign Trade Development and Regulation Act 1992.

• Prepared and announced by the Central government.

• It contains policies covering foreign trade w.r.t export promotion measures,


policies and procedures.

• Aims to developing export potential, improving export performance


encouraging foreign trade and creating favourable balance of payment
position.
Objective of EXIM Policy

• To establish the framework for globalization.

• To promote the productivity competitiveness of Indian Industry.

• To encourage the attainment of high and internationally accepted standards of


Quality.

• To augment export by facilitating access to raw material, intermediate,


components, consumables and capital goods from the international market.

• To promote internationally competitive import substitution and self-reliance.


Objectives in short:

 Better Productivity

 Better Production

 Enhancement of Exports

 Putting less reliance in Import


Comparison of Pre and Post 90’s Exim Policies
Pre-90’s:
i. Excess import to meet
1. War demand/defence needs
2. Shortage of food and raw material
3. Capital goods requirement for big projects/industrialisation
4. Food grains need due to crop failure

ii. Devaluation of Indian currency to


1. Reduce volume of import
2. Boost export

iii.Import restriction policies with vigorous export promotion measures - Decline in POL imports
compared to non-POL imports

iv.Huge trade balance compelled the government to approach the world bank/IMF for loan.

v. Removed licensing policy of imports.


Post-90’s:
i. Liberalisation with Push to exports

ii. Two-step devaluation of the rupee

iii.Depressed nature of world markets

iv.Saturation of developed countries market for electronic goods with increased protectionism

v. Increasing competition from China and Taiwan

vi.Rupee depreciation along with further trade liberalisation

vii.Openness to Foreign investment in EOU sectors like IT

viii.Rise in imports due to oil imports and allied products and capital goods

ix.Massive thrust to exports


Various Exim Policies of India

a. Policies announced by Ministry of Commerce, Government of India

a. 6 Policies announced till date (Post Liberalisation):

i. 1992-1997
ii.1997-2002
iii.2002-2007
iv.2004-2009
v.2009-2014
vi.2015-2020
EXIM Policy 2015-2020 Highlights:

a. Merchandise Exports from India Scheme (MEIS)

b. Service Exports from India Scheme (SEIS)

c. Status Holder

d. Boost to “Make in India”

e. Trade Facilitation and ease of doing business

f. Simplification of procedures/processes, digitisation and e-governance

g. Women centric products supported under MEIS

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