Describe some of the important export promotion measures initiated by the Government of India to boost the national export effort. What are the major areas in the export sector that such measures have sought to address?

India’s foreign trade has long been a key driver of economic growth, and to ensure continued progress in this area, the government has initiated several export promotion measures. These measures have sought to boost India’s national export effort by addressing various issues in the export sector, from infrastructure and policy-related barriers to trade facilitation and market access. Over the years, a combination of fiscal, financial, and policy-driven steps have been implemented to encourage exports and make Indian products competitive in the global market.

One of the most significant steps taken by the Indian government has been the introduction of the Foreign Trade Policy (FTP). The FTP, revised periodically, serves as a comprehensive framework that outlines various incentives and procedures for promoting exports. The key objective of the FTP is to facilitate a business environment that is conducive to boosting exports, providing support through both policy interventions and a regulatory framework that is designed to eliminate bottlenecks.

A notable scheme under this policy is the Merchandise Exports from India Scheme (MEIS). This initiative offers duty credit scrips to exporters based on their export performance, which can be used to pay import duties on goods and services or can be sold in the market. This scheme primarily aims at enhancing the competitiveness of Indian products in global markets by reducing the cost of exports. By rewarding export performance with incentives, MEIS provides an immediate benefit to exporters, stimulating production and increasing foreign exchange earnings. It also helps in broadening India’s export base by encouraging shipments of new products and to new markets, diversifying the country’s trade relations.

Another significant export promotion measure has been the Services Exports from India Scheme (SEIS), which was introduced to boost the export of services. Under this scheme, export of specified services is incentivized through the issuance _________ _____ _________ ____ ____ _______ _________.
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