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Q. Need to revive Exports: Discuss the need to revive Exports from India.
Jan 02, 2017 Related to : GS Paper-3

Ans :

Introduction-

Recently commerce ministry has proposed to enhance the incentives it offers under the merchandise export incentive scheme (MEIS), announced in the April 2015 Foreign Trade Policy. MEIS are meant to compensate exporters for infrastructural inefficiencies and associated costs, particularly with respect to India-made goods with high employment potential and export intensity. 

Why there is need to revive exports-?

  • India’s exports have been struggling for years now due to various reasons. Slow growth in many destination nations, contraction of demand from oil exporting nations in West Asia. 
  • Even demonetisation of ₹500 and ₹1,000 banknotes has also affected many exporters to some extent. Faced with a cash crunch, they have been unable to adequately source material and labour to fulfil orders.
  • India’s export sector also needs to be strengthened to withstand changes that could take place in world trade. For. Ex protectionist measures of newly elected USA government. 
  • In altered trade environment, India needs to make products that find greater global acceptance, That requires getting more sophisticated with designs and giving superior finishes — two qualities a lot of Indian exports lack.
  • In this background government take various steps to promote exports from India. It should pro-actively support in developing export sector, which is very crucial in the current globalised world. 

Conclusion-

India export sector is struggling since last few years and Indian exports lacks in various account in comparison to developed countries. Similarly we are witnessing protectionist trend throughout the world. Hence government needs to take active steps to revive Indian export sector.   


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