FOREIGN TRADE POLICY (2015-2020): A MEANS TO ACHIEVE EXPORT EXCELLENCE
Abstract
The Foreign Trade Policy (FTP) 2015-20 provides a steady and supportable policy environment for foreign trade in merchandise and services. It links rules, incentives and procedures for exports and imports with other government initiatives such as “Make in India”, “Digital India” and “Skills India” thereby creating an “Export Promotion Mission” to stimulate the diversification of India’s exports basket by helping various sectors of the Indian economy to gain global competitiveness. The policy creates an architecture for India’s global trade commitment with an outlook to expanding its markets and better integrating with major regions thereby increasing and contributing to the “Make in India” initiative. It also provides a mechanism for regular evaluation in order to rationalize imports and reduce the trade imbalance. The present study reviews and analyses the present export-import policy and other related micro and macroeconomic factors responsible for the growth rate of export.
References
Bergsten, Fred C. (2015, September). India’s Rise: A Strategy for Trade led growth. Trade and investment Policy watch, Petersons institute for International Economics, PIIE Briefing 15-4.
Bhat, S. K. (1995). Export and Economic Growth in India. Artha Vijana, 37, 350-358.
Bhat, T. P. (2011). Structural Changes in India’s Foreign Trade. Institute for Studies in Industrial Development, A Study Prepared as a Part of a Research Programme Sponsored by Indian Council of Social Science Research (ICSSR) New Delhi.
Balassa, B. (1978). Exports and economic growth: Further evidence. Journal of Development Economics, 5(2), 181-189.
Balassa, B. (1985). Exports, policy choices, and economic growth in developing countries after the 1973 oil shock. Journal of Development Economics, 4(1), 23-35.
(2015). India’s Foreign Trade Reports. CARE. CARE Ratings.
Dean, J. M., Desai, S., & Riedel, J. (1994). Trade Policy Reforms in Developing Countries since 1985: A Review of the Evidence (World Bank Discussion Papers 267). (2016). Quarterly Fact Sheet Fact Sheet on Foreign Direct Investment (FDI) from April 2000 to September 2016. DIPP. Retrieved from http://dipp.nic.in/English/Publications/FDI_ Statistics/2016/FDI_FactSheet_April_Sep_2016.pdf
Prasad H. A. C. (2012). Emerging Global Economic Situation: Its impact on India's Trade and some Policy Issues (Working Paper 12/2012-DEA). Retrieved from http://dea.gov.in/sites/default/files/EGES_impact_indiatrade_policyissue.pdf
Dr Prasad H. A. C., Sathish, R., & Singh, S. S. (2014). India's Merchandise Exports: Some Important Issues and Policy Suggestions (Working Paper 03/2014-DEA). Retrieved from http://dea.gov.in/sites/default/files/Working%20Paper%20on%20Trade%2028082014.pdf
Giri, Pratibha. (2018). New Foreign Trade Policy (2015-2020): Reviving and Stimulating India’s Exports. Saaransh Rkg Journal of Management, 9(2), 85-94. ISSN (P) 0975-4601 UGC Journal No. 45958 Global Impact and Quality Factor 0.676. Giri, Pratibha. (2017, April-June). Contribution of Foreign Trade Policy (2015-2020) in enhancing India’s export competitiveness. International Journal of Trade and Global Business Perspectives (A Referred Quarterly Journal). ISSN: 2319-9059 (PRINT) ISSN: 2319-9067 (ONLINE).
Giri, Pratibha. (2017). Implications of foreign trade policy (2015-2020) in boosting India’s Exports: A boost to make in India Initiative. In 2nd International Conference on Recent Innovations in Management & Engineering (ICRIME-17), pp. 52-60. IIMT College of Engineering Greater Noida ISBN-978-93-86171-50-4.
Gupta, Reeti. (2011, January-June). An Exploratory Study of India’s Foreign Trade Policy Dynamics Since 1991, HSB Research Review, 1(1), 10-19.
Verma, Reeva, & Giri, Pratibha. (2015, July-September). Exim bank: Aggrandizing Bilateral Trade relations with ECOWAS countries. International Journal of Trade & Global Business perspectives (A Referred Quarterly Journal), 4(3), 1887-1894.
Giri, Pratibha, Verma Reeva, & Karinje, Prithvi. (2014). EXIM Bank initiatives in facilitating International Trade in India (A study with special reference to SAARC Countries). In International Conference of Management & Behavioural Sciences, 4(3). ISSN (P): 2277-3177, ISSN (O): 2319-9067.
(2016, October). World Economic Outlook (WEO), IMF. Retrieved from (http://www.imf.org/external/pubs/ft/weo/2016/02/
Kaur, A. (2012). Pattern of India’s Foreign Trade in Pre and Post Reform Era: An Empirical Investigation. International Journal of Advancements in Research and Technology, 1(5. ISSN: 2278-7763.
(2003, January). Report of Task Force on Project Exports submitted to Prime Minister’s Office. Retrieved from http://finmin.nic.in/reports/ProExport.pdf
(2014). Economic Survey 2013-14. Ministry of Finance. Retrieved on March 18, 2017 from http://indiabudget.nic.in/budget2014-2015/es2013-14/echap-07.pdf
Verma, Reeva, & Giri, Pratibha. (2013). Exim Bank: An Exertion for Improving Inclusion for Finance to Women-Owned Business. Women Empowerment and Gender Equality Development. New Delhi: New Generation Press. ISBN: 978-93-80310- 78-7.
Articles published in IJTGBP will be Open-Access articles distributed under the terms and conditions of the Creative Commons Attribution License (CC BY). The copyright is retained by the author(s). GFER Publishing will insert the following note at the bottom of the first page of the published text alongwith its logo:
Published by Licensee GFER Publishers. Copyright: © the author(s). This article is an open access article distributed under the terms andconditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).
