Commerce

There has been a paradigm shift in the incentivisation regime for exports: Commerce Secretary

Post By : Basundhara Choudhury
Post Date : August 27, 2020
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There has been a paradigm shift in the incentivisation regime for exports, expressed Commerce Secretary Anup Wadhawan .

“You see as a competing nation, competing with various countries including new entrants into the export arena like Vietnam, we have to match the global sought of package which is available to investors,” he said, yesterday.

He added that India has started moving in that direction in the recent past, and the entire approach to incentivising exports has witnessed a paradigm shift.

“We are moving away from the MEIS (Merchandise Exports from India Scheme) type of incentive to production linked incentives, to improvement in the physical environment in which investors can start operating in a plug and play manner,” Mr Wadhawan said.

On Wednesday, NITI Aayog released its report on Export Preparedness Index 2020 that was streamed live. Gujarat has topped the NITI Aayog’s Export Preparedness Index 2020 followed by Maharashtra and Tamil Nadu in the second and third place respectively, according to the report.

The Secretary also said that the Department of Commerce is proactively engaging with state governments to promote exports.

Mr Wadhawan also requested state governments to proactively extend their support in a bid to implement the initiatives to boost the country’s outbound shipments.

“We are working with states to not only have a state export strategy covering infrastructure, logistics, incentives, all other facilitation and promotional measures but also having a decentralised strategy covering each and every district,” he added.

~Anup Wadhawan, Commerce Secretary to the Government of India

While speaking about the Exports Performance Index,he said the issues related to wrong attribution of export numbers of one state to other would be addressed. He believed export performance in quantitative and qualitative dimensions prove to be key metrics for assessing the health and prospects of an economy.

Those issues “we are trying to address” through exporter awareness by creating windows in the shipping bills and in the GSTN formats, “so that right at the ground level, the source of the exports, right to the district level is accurately captured and states do not have this grievance that exports originating from a district in their state is wrongly attributed to some other state,” he said.

India’s exports declined 10.21 per cent to $23.64 billion in July owing to drop in shipments of petroleum, leather and gems and jewellery items, thus contracting for the fifth straight month.

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