India Strengthens Trade Policies to Boost Exports and Global Competitiveness

The Indian government has implemented a series of comprehensive measures to strengthen trade competitiveness, boost exports, and enhance domestic manufacturing capabilities. Minister of State for Commerce & Industry Jitin Prasada stated in a written reply in the Lok Sabha that these initiatives aim to position India as a reliable global trade partner while ensuring ease of doing business.

The Foreign Trade Policy (FTP) 2023, effective from April 1, 2023, plays a key role in integrating India into global markets and enhancing trade competitiveness. To support exporters, 65 Export Facilitation Centres (EFCs) have been established across the country, offering mentorship and guidance, particularly to MSMEs.

Various government schemes such as the Trade Infrastructure for Export Scheme (TIES) and the Market Access Initiatives (MAI) Scheme provide financial assistance for export promotion. The RoSCTL Scheme, launched in 2019, supports labour-intensive textile exports, while the RoDTEP Scheme, implemented since 2021, has been extended to sectors like steel, pharma, and chemicals to enhance their global competitiveness. The budget allocation for RoDTEP in 2024-25 is ₹16,575 crores, covering 10,642 tariff lines.

To facilitate trade under Free Trade Agreements (FTAs), the government has launched a Common Digital Platform for Certificate of Origin, simplifying documentation and increasing FTA utilization. Additionally, the Districts as Export Hubs initiative identifies high-potential export products at the district level, addresses export challenges, and supports local manufacturers in job creation.

A key development is the launch of the Trade Connect e-Platform, an international trade facilitation portal connecting Indian Missions Abroad, the Commerce Department, and industry stakeholders. The role of Indian diplomatic missions in promoting trade, investment, and tourism has also been enhanced, with continuous monitoring of export performance in collaboration with Export Promotion Councils and Industry Associations.

India is actively expanding its Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs), currently being a member of 13 FTAs and 9 PTAs, while negotiating new trade pacts with the EU, UK, and Oman.

Source: PIB