Category: Entrepreneurship

Centre Revises “Transport and Marketing Assistance” (TMA) scheme for Specified Agriculture Products

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Centre Revises “Transport and Marketing Assistance” (TMA) scheme for Specified Agriculture Products’


Dairy products, which were not covered under the earlier scheme, will be eligible for assistance

Rates of assistance have been increased, by 50% for exports by sea and by 100% for exports by air
Posted Date:- Sep 10, 2021

Centre has revised “Transport and Marketing Assistance” (TMA) scheme for Specified Agriculture Products’.

In February 2019, the Department of Commerce had introduced ‘Transport and Marketing Assistance (TMA) for Specified Agriculture Products Scheme’ to provide assistance for the international component of freight, to mitigate disadvantage of higher freight costs faced by the Indian exporters of agriculture products. The scheme was initially applicable for exports effected during the period from 01.03.2019 to 31.03.2020 and was later extended for exports effected up to 31.03.2021.

Now the Department has notified ‘Revised Transport and Marketing Assistance (TMA) for Specified Agriculture Products Scheme’ for exports effected on or after 01.04.2021 up to 31.03.2022. The existing scheme will remain in operation for exports effected up to 31.03.2021.

Following major changes have been made in the revised scheme:

•           Dairy products, which were not covered under the earlier scheme, will be eligible for assistance under the revised scheme.

•           Rates of assistance have been increased, by 50% for exports by sea and by 100% for exports by air. Details are as under:

            Rates of Assistance (in INR)

            Region Amount Per TEU (Normal)    Amount Per TEU (Reefer)By Air

            (Amount per kilogram)

            ExistingRevisedExistingRevisedExistingRevised

West Africa     11200  16800  19600  29400  0.841.68

East Africa      11200  16800  21000  315000.841.68

Europe 9800    14200  21000  31500  1.122.24

Gulf     8400    12600  14000  21000  0.701.40

North America21000  31500  28700  43050  2.805.60

ASEAN          5600    8400    12600  18900  0.701.40

Russia & CIS  12600  18900  22400  33600  0.701.40

Far East           8400    12600  12250  18375  0.841.68

Oceana            16800  25200  24500  36750  2.805.60

China   0012600189000.84     1.68

South America23800  35700  31500  47250  3.507.00

The Directorate General of Foreign Trade (DGFT) will shortly notify the procedure for availing assistance under the revised scheme.

Enhanced assistance under the revised scheme is expected to help Indian exporters of agricultural products to meet rising freight and logistics costs.

Ministry of Commerce & Industry Press Release dated 10th Sept 2021

Government Provides Big Boost to Exporters

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Government Provides Big Boost to Exporters


Rs. 56,027 crore is going to be released under various Export Promotion Schemes

Benefits would be disbursed to more than 45,000 exporters, out of which about 98% are small exporters in the MSME category.

Centre has provided a massive relief to the exporters.

This amount is over and above duty remission of Rs 12,454 crore for the RoDTEP scheme and Rs 6,946 crore for RoSCTL scheme already announced

Benefits would help sectors to maintain cash flows and meet export demand in international market

This support would have a multiplier effect and spur employment generation

Robust export growth is being witnessed in recent months and this decision will lead to an even more rapid export growth in coming months

Under the decisive leadership of Hon’ble Prime Minister Shri NarendraModi, Government of India has decided to budget Rs 56,027 crore in this Financial Year FY 21-22 itself in order to disburse all pending export incentives due to exporters. This amount includes claims relating to MEIS, SEIS, RoSL, RoSCTL, other scrip based schemes relating to earlier policies and the remission support for RoDTEP and RoSCTL for exports made in the 4th quarter of FY 20-21. Benefits would be disbursed to more than 45,000 exporters, out of which about 98% are small exporters in the MSME category.

The amount of Rs 56,027 crores of arrears is for different export promotion and remission schemes: MEIS (Rs 33,010 crore), SEIS (Rs 10,002 crore), RoSCTL (Rs 5,286 cr), RoSL (Rs 330 crore), RoDTEP (Rs 2,568 crore), other legacy Schemes like Target Plus etc (Rs 4,831 crore). This amount is over and above duty remission amount of Rs 12,454 crore for the RoDTEP scheme and Rs 6,946 crore for RoSCTL scheme already announced for exports made in this year i.e. FY 2021-22.

Exports in India have seen robust growth in recent months. Merchandise exports for April-August, 2021 was nearly $164 billion, which is an increase of 67% over 2020-21 and 23% over 2019-20. This decision to clear all pending export incentives within this financial year, will lead to even more rapid export growth in coming months.

For merchandise exports, all sectors covered under MEIS, such as Pharmaceuticals, Iron and steel, Engineering, Chemicals, Fisheries, Agriculture and allied Sectors, Auto and Auto Components would be able to claim benefits for exports made in earlier years. Benefits would help such sectors to maintain cash flows and meet export demand in international market, which is recovering fast this financial year.

Service sector exporters, including those in the travel, tourism and hospitality segments will be able to claim SEIS benefits for FY 2019-2020, for which Rs 2,061 crore has been provisioned. The SEIS for FY 2019-20 with certain revisions in service categories and rates is being notified. This support would have a multiplier effect and spur employment generation.

The apparel sector, which is a major labour-intensive sector, would get past arrears under ROSCTL and ROSL, and all stakeholders in the interconnected supply chains would be strengthened to meet the festive season demand in international markets.

Export claims relating to earlier years will need to be filed by the exporters by 31st December 2021 beyond which they will become time barred. The Online IT portal will be enabled shortly to accept MEIS and other scrip based applications and would be integrated with a robust mechanism set up by Ministry of Finance to monitor provisioning and disbursement of the export incentives under a budgetary framework.

A decision to clear all pending export incentives within this Financial Year itself despite other budgetary commitments arising out of the pandemic is with the objective of providing timely and crucial support to this vital pillar of Indian economy.

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DJN

Ministry of Commerce & Industry Press Release dated 09 Sept 2021

For boosting exports prospects and farmers income, APEDA inks MoUs with ICAR-Indian Institute of Millet Research

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For boosting exports prospects and farmers income, APEDA inks MoUs with ICAR-Indian Institute of Millet Research


Key focus of the MoU is to promote commercial cultivation of processable varieties of Millet

MoU also envisages creation of market linkages with farmers as well as Farmer Producers Organizations

MoU will build the export centric ecosystem and value chain for these forgotten crops

Both the organizations would jointly develop an export strategy and schemes for increasing exports of millets

Ministry of Commerce & Industry Press Release dated Sep 03, 2021

For increasing exports through quality production and processing, Agricultural and Processed Food Products Export Development Authority (APEDA) today signed a Memorandum of Understanding (MoU) with ICAR-Indian Institute of Millet Research (ICAR-IIMR) which is expected to boost value addition and farmers’ income.

The key focus of the MoU would be to promote commercial cultivation of processable varieties developed by ICAR-IIMR for exports which is expected to promote value addition of millets, a cereal with high nutritive value.

MoU also envisages creation of market linkages with farmers as well as Farmer Producers Organizations. A joint coordination committee with representatives from APEDA and ICAR-IIMR would be set up to achieve the goals envisaged under the MoU.

The objective of the MoU is to build the export centric ecosystem with the requisite supply chain linkages, technological repository, clinical studies, awareness creation, policy changes and pipeline of entrepreneurs.

Both APEDA and ICAR-IIMR would work for developing knowledge on understanding of markets, consumer preferences, emerging segments, analyze export competitiveness, price volatility of markets and market intelligence on standards, regulations and trade policies.

Creation of a Millet Export Promotion Forum in collaboration with all the key stakeholders for identifying export clusters to source sizable quantities of produce and for linking stakeholders with FPO’s would be taken up jointly by the both the organizations of repute.

MoU gives thrust on work relating to sensitization, promotion and policy advocacy to the Government departments for bringing new policy changes and convergences in favour of millet exports.

Both the organizations would jointly develop an export strategy and accordingly conduct training programme for the existing millet processors and entrepreneurs on various export policies and schemes for increasing exports of millets.

Development and Implementation of novel frameworks such as Traceability, Artificial intelligence, etc. would be taken for promoting millets exports. Handholding activities for the Start-ups for export-compliance is also envisaged under MoU.

Profiling of Millets growers or farmers in all major millets growing regions of the country and strengthening of seed supply chain would be taken up by ICAR-IIMR.

Millets are cereal crops with high nutritive value and categorized as small-seeded grasses. The key varieties of millets include Sorghum, Pearl Millet, Ragi, Small Millet, Foxtail Millet, Barnyard Millet, Kodo Millet and others.

Recently, the United Nations General Assembly has passed the resolution to celebrate the International Year of Millets (IYM) in 2023, to promote the health benefits of millets and their suitability under the changing climatic conditions globally. As IYM is round the corner, it is expected that the demand of millets will grow exponentially in many countries.

ICAR-IIMR has been working along the entire millet value chain. Through several projects, ICAR-IIMR has piloted several interventions to build the value chain for these forgotten crops, and thus to revive the millets for Nutritional security in the country.

Considering the potential of increasing exports of Millets and Millet products and the focus given by Government for development of millet sector, APEDA has been formulating a long term strategy with ICAR-IIMR and other stakeholders like National Institute Nutrition, CFTRI and FPOs for promotion of Millets and Millet products.

To boost exports prospects of various agricultural produce, APEDA has signed a series of MoUs with Tamil Nadu Agricultural University, Coimbatore, University of Agricultural Sciences, Bangalore. National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and others.

FDI equity inflow grows by 168% in the first three months of F.Y. 2021-22 (US$ 17.57 billion) compared to the same corresponding period last year (US$ 6.56 billion)

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Ministry of Commerce & Industry Press Release dated 28 Aug 2021

FDI equity inflow grows by 168% in the first three months of F.Y. 2021-22 (US$ 17.57 billion) compared to the same corresponding period last year (US$ 6.56 billion)


Total FDI inflow of US$ 22.53 billion during first three months of 2021-22, i.e. April, 2021 to June, 2021 is much Higher as compared to US$ 11.84 billion in first three months of 2020-21

Total FDI inflow 90% higher in first three months of 2021-22, i.e. April, 2021 to June, 2021   as compared to first three months of 2020-21

‘Automobile Industry’ emerges as the top sector during the first three months of F.Y. 2021-22 with 27% share of the total FDI Equity inflow followed by Computer Software & Hardware (17%) and Services Sector (11%) respectivelyPosted Date:- Aug 28, 2021

Measures taken by the Government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country.

The following trends in India’s Foreign Direct Investment are an endorsement of its status as a preferred investment destination amongst global investors:

India has attracted total FDI inflow of US$ 22.53 billion during first three months of 2021-22, i.e. April, 2021 to June, 2021 which is 90% higher as compared to first three months of 2020-21 (US$ 11.84 billion).

  • FDI equity inflow grew by 168% in the first three months of F.Y. 2021-22 (US$ 17.57 billion) compared to the year ago period (US$ 6.56 billion).
  • ‘Automobile Industry’ has emerged as the top sector during the first three months of F.Y. 2021-22 with 27% share of the total FDI Equity inflow followed by Computer Software & Hardware (17%) and Services Sector (11%) respectively.
  • Under the sector `Automobile Industry’, majority of FDI Equity inflow (88%) was reported in the state of Karnataka during the first three months of the current financial year (2021-22).
  • Karnataka is the top recipient state during the F.Y. 2021-22 (upto June, 2021) with 48% share of the total FDI Equity inflows followed by Maharashtra (23%) and Delhi (11%).

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India Trade Promotion Organisationoffers 50% Discount on Rentals to ‘STARTUPs’ in the 21st edition of IISE , Complete ‘MAN-TECH’ solutions at India International Security Expo 2021

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Ministry of Commerce & Industry Press Release dated Aug 25, 2021

Highlighting ‘Atamnirbhar Bharat’ campaign of the Government, India Trade Promotion Organisation (ITPO) has extended its support to ‘STARTUPS’ in terms of providing 50 per cent rental discount toSTARTUPsin the21stedition of India International Security Expo (IISE) to be organized from 7th-9thOctober,2021 in Hall 5 (GF), IECC Complex at Pragati Maidan, New Delhi. These Startups should be notified by the DPIIT, the Ministry of Commerce and Industry, Government of India.

Facilitating transfer of technology, joint ventures, and system integration, IISE 2021 is being organized as per   preventive measures to contain spread of the pandemic with the support of the Ministry of Home Affairs, Government of India while the co-organizers are CISF and BPR&D.  Significantly, this is the only security expo in South-Asia region which enjoys the support of all States Police Forces, NDMA, CRPF, BSF, ITBP, SSB, Delhi Police, SPG, DFS, etc.

The Expo will cover almost all aspects of security and safety. The event also showcase the new initiatives of the industry of promote manufacturing of the security equipment and gadgets under the ‘Make in India’ campaign.  Featuring a wide range of the latest products, services and innovations of homeland security, cross-spectrum technology-based security capabilities, the event highlights fresh avenues for development of cyber security and skilled task force.

IISE 2021 focuses on new range of gadgets and systems in the field of surveillance, explosive detection and disposal, firefighting, access control, radio communications, training equipment and home and automotive security sectors.  Over 100 leading companies are displaying a wide range of products on Homeland Security, Fire Safety, Traffic Management, Industrial Safety, Disaster Management and Information Security.  These includes: Access Control Systems, Perimeter Protection Devices, CCTV Surveillance Equipment’s& System, Explosive detection & Disposal Equipment, Disaster Management & NBCW Protection Equipment, Equipment for Bank and Hospital Security, Equipment for Forensic Science Laboratories, Fire Alarm & Fire Fighting Equipment, Equipment for Counter Terrorism, Insurgency, Anti-Naxalism and Security Enforcement agencies, Crowd Control Gadgets/Anti-Riot Drill Equipment, Rescue and Relief Equipment, Vehicle and Personnel GPS System, Electronic Gates/Flap Barriers, Bomb Suits/Bomb Blanket, Night Vision Devices, Indoor/outdoor shooting ranges, Drone Technologies, Cyber Security, Health Security, Software & Solutions, Baggage Screening System, Integrated critical Infrastructure Protection and Jammer/Cell Phone Monitoring System, etc. 

The concurrent seminars, delegation visits from within the country and overseas and on-the-spot demonstrations on Women Safety, ‘Selfie- Points’ and ‘Dog Shows’ will be among the added attractions.

Inviting applications to set up International Trade Financing Services Platform at GIFT IFSC

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Ministry of Finance Press Release dated 24th July 2021

The International Financial Services Centres Authority (IFSCA) has been established as a unified regulator to develop and regulate financial products, financial services, and financial institutions in the International Financial Services Centres (IFSCs) in India.

IFSCA vide circular dated 9th July 2021 issued the framework for setting up of International Trade Financing Services Platform (“ITFS”) at GIFT International Financial Services Centre (IFSC) for providing Trade Financing Services.

In this regard, IFSCA has invited application from eligible entities, which are desirous of setting up and operating the ITFS, to apply in the prescribed format along with supporting documents to the IFSCA by 15th of September 2021.

IFSCA upon satisfaction in the first instance will grant an in-principle approval to operate in IFSCA Regulatory Sandbox environment for such period as it may consider appropriate, before allowing regular operations.

The ITFS would be an electronic platform for facilitating the trade finance requirements of exporters and importers by providing access to multiple financiers. Once operational, it will play an instrumental role in arranging credit for exporters & importers from global institutions through Factoring, Forfaiting and other trade financing services at competitive cost. The platform is expected to be leveraged by exporters and importers across the world for availing trade finance services, thereby making GIFT IFSC a preferred location for international trade financing.

A copy of the circular dated 23rd August 2021 inviting applications to set up ITFS at GIFT IFSC is available on the website of the authority (www.ifsca.gov.in/circular).

Industry Associations to play a key role in achieving target of $400 billion merchandise exports in 2021-22: Shri Piyush Goyal

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Ministry of Commerce & Industry

Industry Associations to play a key role in achieving target of $400 billion merchandise exports in 2021-22: Shri Piyush Goyal


All issues and concerns will be looked into – Shri Goyal

Shri Piyush Goyal engages with Industry Associations to ensure all avail benefit of great growth opportunities.

India developing a SAFE ecosystem i.e. Sustainable, Agile, Futuristic & Efficient to make India a Global Hub of manufacturing: Shri Goyal


Shri Piyush Goyal interacts with the Industry Associates to discuss measures to enhance and increase exportsPosted Date:- Aug 23, 2021

Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal today interacts with the Industry Associates to discuss measures to enhance and increase exports. 

The Union Minister in his addressed said that today’s interaction will create a roadmap to build a vibrant & robust industry ecosystem. Shri Piyush Goyal appreciated the selfless spirit of all Industry Associations during COVID-19. He said that with collective will, agility & synergies we turned a ‘Crisis into an Opportunity,  as the Merchandise exports for first 2 weeks of Aug’21 up by 45% over 2020-21 & up 32% over 2019-20 and  Merchandise exports for 1 Apr – 14 Aug’ 21 up by 71% over 2020-21 and up 23% over 2019-20. 

Shri Goyal further added that it is also, time to reflect on how to achieve future targets. He said that India’s average applied import tariff dropped to 15% in 2020 from 17.6% in 2019, sharpest annual fall in about a decade and a half and our applied tariffs are way below the bound rate of 50.8% (permissible limit under the WTO), with a positive momentum, India is working in mission mode to achieve target of $400 billion merchandise exports in 2021-22. 

Speaking about aim of USD 2 tn contribution of exports by 2030 in economy, Shri Goyal said that economy is on a path of revival and India received the highest ever FDI inflow in 2020-21. It surged by 10% to USD 81.72 bn from USD 74.39 bn (2019-20) and FDI during May’ 21 is USD 12.1 bn i.e. 203% higher than May’20 & 123% higher than May’19. The Minister said that from EoDB to Exports and from Startups to Services, India is taking giant leaps in each sector. 

Speaking about employment, the Minister said that more than 54,000 start-ups were providing ~ 5.5 lakh jobs, and more than 20 lakh jobs will be created by 50,000 new start-ups in the next 5 years. He said, it is time for our Industry to expand our capacity, capability & commitment to develop resilient global supply chains. He further added that our relentless efforts are a testament to the world of our potential and India’s ability to scale and our Industries have truly inculcated spirit of “Sabka Sath, Sabka Vikas, Sabka Viswas, Sabka Prayas”

Speaking about Prime Minister’s clarion call on 6th August, 2021 “Local goes Global: Make in India for the World”, he said Quality, Productivity, & Efficiency, will make our export basket Bigger, Better & Broader and Transforming Industries & Transforming Lives through Initiatives.

Shri Goyal talked about Incentivising Manufacturing also, he said Governments focus will be on PLI worth Rs 1.97 Lakh Cr to 13 sectors in next 5 years, Focus on 24 sectors to attract investment, one-stop digital platform to facilitate businesses through Investment Clearance Cell (ICC), One District One Product under which creating a pool of 739 products from 739 districts, India Industrial Land Bank for providing a GIS-enabled database of industrial areas, he said that Centre expects that Indian Industry should suggest areas for intervention through research, handholding of exporters/manufacturers, deeper engagement with States, greater engagement with Missions, etc.

In his concluding remarks, Shri Goyal said that “The key to success is to focus on goals, not obstacles”.  He said that Indian industry through their conviction & commitment have demonstrated to the world that we can rise to any challenge and conquer it. He further added that Industry Associations will play a key role in developing a SAFE ecosystem i.e. Sustainable, Agile, Futuristic & Efficient to make India a Global Hub of manufacturing and together, we will achieve ‘Sarva Lok Hitam’ i.e. growth of industry with ‘Quality driven productivity’.

Minister of State for Commerce & Industry Shri Som Parkash and Minister of State for Commerce & Industry Smt. Anupriya Patel also addressed the meeting. 

DGFT, DPIIT, The SCALE committee (Steering Committee for Advancing Local Value-Add and Exports), CII, FICCI and ASSOCHAM made presentation on subject “Measures to Increase Exports & Achieve Export Targets of 2021-22”. 

Dr. Pawan Goenka Chairman, MD & CEO, Mahindra & Mahindra Limited,  Shri Dilip Chenoy, Member Secretary General, FICCI, Shri Deepak Sood, Member, Secretary General, ASSOCHAM,  Shri Deepak Bagla Member, CEO, Invest India, Shri Salil Singhal Member, Chairman and MD, PI Industries, Mr Gautam Nair, Chairman, CII Footwear and Leather Accessories Committee, Smt. Manmeet K. Nanda Member (Convener) Joint Secretary, DPIIT , Shri Chandrajit Benerjee Member Director General, CII,  Shri Seshagiri Rao MVS (through VC) Member JMD & Group CFO, JSW Steel,  Shri S. Suresh Kumar Member Joint Secretary, DoC of SCALE committee participated in the meeting. 

Mr Vijay Sharma Director  Federation of Indian Chamber of Commerce & Industry,  Senior Dr Vinod K Verma Vice President, Jindal Stainless Reliance Industries Limited , Vikash Agarwal, President Indian Chamber of Commerce,  Sh. Sanjay Aggarwal, President, Economics PHD Chamber of Commerce & Industry ,  Mr. Arun, President ,The Southern India Chamber of Commerce & Industry , Shri Vinesh Mehta, President,  Federation of Associations of Maharashtra, Mr. Juzar Khorakiwala, President, IMC Chamber of Commerce and Industry (formerly Indian Merchants’ Chamber),   Mr Praveen Khandelwal, Secretary General , Confederation of All India Traders and other Industry Associate,  Mr. Jagdish Fofandi, National President Mr. Elias Sait, Secretary General, The Seafood Exporters Association of India,  Rajiv Mehra, President Mr. Ravi Gosain, Vice President, Indian Association of Tour Operators Maj (Retd.) Nikhil Saini, Director Public Policy EICI Mr. Vasudevan Rajagopalan, Head Customs Compliance DHL , Express Industry Council of India,  Mr.Kiran Rambhia, President Mr.Paresh Thakkar, Hon.Secretary Brihan Mumbai Custom House Agents Associations, Mr. Shankar Shinde, Chairman – Elect Mr. Dushyant Mulani, Honorary Secretary, Federation of Freight Forwarders Associations of India, Mr.Vivek Jalan, Chairperson Mr. Jayanta Chakrabort, Chairperson, Bengal Chamber Commerce Industry Kolkata also attended the meeting. 

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Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman to launch the National Monetisation Pipeline

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Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman to launch the National Monetisation Pipeline tomorrow


The National Monetisation Pipeline comprises a four-year pipeline of the Central Government’s brownfield infrastructure assets

Posted Date:- Aug 22, 2021

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman, will launch the National Monetisation Pipeline tomorrow at New Delhi.

The National Monetisation Pipeline (NMP) comprises a four-year pipeline of the Central Government’s brownfield infrastructure assets. Besides providing visibility to investors, NMP will also serve as a medium-term roadmap for the Asset Monetisation initiative of the Government.

The Union Budget 2021-22 laid a lot of emphasis on Asset Monetisation as a means to raise innovative and alternative financing for infrastructure, and included a number of key announcements.

The National Monetisation Pipeline book will be released in the presence of Vice Chairman of NITI Aayog, Dr Rajiv Kumar, CEO, Shri Amitabh Kant, and Secretaries of relevant line ministries whose assets constitute the monetisation pipeline.

NITI Aayog Press Release dated 22 Aug 2021

Minister Exhorts Exporters To Rise To The Ambitious Challenge Of $400 Billion Export Target For 2021-22.And Target $2 Trillion Exports By 2030

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Union Commerce & Industry Minister Piyush Goyal Meets Export Community, Discusses Measures To Boost Exports


Minister Exhorts Exporters To Rise To The Ambitious Challenge Of $400 Billion Export Target For 2021-22.And Target $2 Trillion Exports By 2030

Commerce Minister –
“We Can Sort Out Ftas Fairly Quickly, If The Areas Where We Have The Ability To Compete Internationally Can Be Identified”

India Is Working Towards Early Harvest Agreements With Uk And Australia: Commerce Minister

Ministry of Commerce & Industry Press Release dated 19th Aug 2021

The Union Commerce and Industry Minister Shri Piyush Goyal has said that the nation is working towards making a quantum jump in merchandise exports.  He said this has been made possible, thanks to the structural changes initiated by the government under the leadership of Prime Minister Narendra Modi. The Minister said that the merchandise export target of $400 billion for the year 2021-22 has been set, in line with the Prime Minister’s clarion call, “Local goes Global: Make in India for the World”. The Minister said this during a meeting with Export Promotion Councils (EPCs), Commodity Boards and Authorities and other stakeholders in Mumbai today, to discuss measures to enhance and increase exports. 

“The target has been generated through a bottom-up and consultative approach, wherein specific targets for each country, product, Export Promotion Council and foreign mission has been set”, said Shri Goyal.  

“Act immediately to rise to the ambitious challenge of $400 billion export target”

The Minister exhorted all Export Promotion Councils to take immediate and effective steps to rise to the challenge of achieving the merchandise export target of $400 billion for 2021-22. “We need to maintain the export momentum for the next 8 months, with $34 billion exports per month to achieve this target, he informed. The goal is ambitious, but possible if all including EPCs and their members work together”, added Shri Goyal.

Target $2 trillion exports by 2030

The Minister asked the export community to also target $2 trillion exports by the year 2030, comprising $1 trillion merchandise exports and $1 trillion services exports. 

The Minister announced that two separate divisions are being set up in the Commerce Ministry focused on the services sector, in order to attain the $1 trillion services exports target.

New FTAs slated for early conclusion.

The Minister informed that the Free Trade Agreement (FTA) strategy is being revamped. “Free Trade Agreements are being formulated in a much more interactive process, we are engaging with industry to ensure that FTAs are fairly and equitably crafted. At the same time, FTAs cannot be a one-way traffic, we also need to open our markets, if we want a larger share in foreign markets. So, we need to identify areas where we can withstand competition. We can sort out FTAs fairly quickly, if the areas where we have the ability to compete internationally can be identified, as part of a collective effort.”

Informing about the progress of FTAs with various developed countries, the Minister informed that we are at a very positive momentum in terms of FTAs, with the UK, EU, Australia, Canada, UAE, Israel and the GCC countries. “Our effort is to ensure focus on countries where we have significant potential, where we can compete better and where market size is significant.”

Working towards Early Harvest Agreements with UK and Australia

Shri Goyal said that India is looking at identifying areas of immediate interest for India and UK, and conclude an Early Harvest Agreement with UK. Australia has shown the highest level of engagement and has shown significant interest to do an Early Harvest Agreement, this will help us engage with others too on similar lines, he informed. 

On the FTA with the EU, the Minister stated that it is only due to the Prime Minister’s good will and credibility that the EU has agreed to once again engage in negotiations for an FTA. India will be working very hard to speed this up, he said. 

He added: “If the FTA with UAE happens, FTAs with GCC countries too will get expedited. The USA has kind of indicated that they are not looking at new trade agreements, however, we will work with them to address market access issues on both sides, this will be a big opportunity for our export sector.

Let Quality be our mantra: Minister tells industry

The Minister exhorted the industry to study both domestic and international quality standards and work towards aligning the standards. “Let us accept and adopt quality standards voluntarily and happily and build our industries to meet global quality standards.”

Focus on shipping and semiconductor industries

The Minister spoke of two sectors which he said should occupy a more prominent role in the industrial landscape -shipping and semiconductors.  He also urged the textiles industry to  

“Do participate in World Expo, Dubai”

The Minister said that World Expo is going to be a big opportunity for Indian industry. “The Indian Pavillion at World Expo, Dubai is going to be absolutely fabulous, it will make you proud, I can assure you.” 

“Time to take exports to the next level”

The Minister told the export community that they – Export Promotion Councils, and Commodity Boards can play a key role in export promotion. They can provide market intelligence, explore new markets and destinations, arrange trade fairs and buyer-seller meets, handhold exporters and work closely with Ministries/Departments, he said. 

Shri Goyal told the export community that India needs to once again become “Duniya ka Bazar” and “Duniya ka Karkhana”, reclaiming its historical position as a great trading nation. 

Policy Measures taken to Boost Exports

Underlining various steps taken to boost exports, the Minister recalled that the Draft National Logistics Policy has been introduced. Districts are being developed as Export Hubs and Free Trade Agreements are being fast-tracked. Compliance requirement has been reduced, Production Linked Incentive Scheme has been introduced for 13 sectors and SEZ reforms have been brought in. Trade facilitation is being done on digital platforms and a comprehensive Agriculture Export Policy has been made. 

A New Foreign Trade Policy will be announced on October 1, 2021 and Indian missions abroad will play an active role in its implementation. A single-window customs clearance has been extended for exporters.

The Commerce & Industry Minister thanked all EPCs who he said have served selflessly during the challenging times of COVID-19. He recalled that India became the pharmacy of the world, supplied high-quality and critical health items and sent millions of vaccine doses. It also became a reliable supplier of food to the world during the pandemic and met all our international service commitments even during the lockdown. This has helped India earn the trust of the world, said the Minister.  

Shri Goyal said “Our Exporters have made us proud by achieving record trade volumes in April- July 2021.” Exports in July 2021 was $35 billion, the highest-ever monthly export in Indian history, and an increase of 35% with respect to July 2019. Merchandise exports in Apr-July 2021 was $130 billion, an increase of 22% with respect to April-July 2019. 

Speaking on the ocassion, 

Commerce Secretary Shri B.V.R Subrahmanyam said, Government of India has set a very solid export target of $ 400 billion for 2021-22. The target has been arrived at through a systematic assessment of export potential. “Trade has been laid down as the top priority for our diplomats, foreign missions will help in facilitating exporters. We are working on creating state-level export commissioners, district-level export hubs and other infrastructure for export facilitation”, informed Shri Subrahmanyam.  

Engagement with states and districts is a key focus area. Through their role in District Export Promotion Councils, the EPCs should actively contribute in preparing strategy for promoting exports of identified products/services from the districts, said Shri Yadav. 

The participants

The Export Promotion Councils (EPCs), Commodity Boards and Authorities present in the meeting included IOPEPC (Indian Oilseeds & Produce Export Promotion Council), EEPC India, PLEXCONCIL (The Plastics Export Promotion Council), Services Export Promotion Council, SRTEPC (Synthetic & Rayon Textiles Export Promotion Council), Export Promotion Council for EOUs & SEZs, Powerloom Development & Export Promotion Council, Texprocil, GJEPC (Gem & Jewellery Export Promotion Council), AEPC (Apparel Export Promotion Council), CII, FIEO (Federation of Indian Exports Organization), Project Export Promotion Council of India and others. The EPCs and other participants joined physically in Mumbai as well as online from other places. 

The Minister and senior officials of the government took note of the various issues and suggestions given by the industry and assured them to continue to address them suitably, in line with the Government’s goal of boosting exports and the economy.

Ministry of Commerce & Industry Press Release dated 19th Aug 2021

Government of India developed robust mechanism for Online Trading of Energy Saving Certificates

Posted on by Business So Simple in Entrepreneurship, Public Affairs

Ministry of Power

Government of India developed robust mechanism for Online Trading of Energy Saving Certificates


Government rewarded energy efficiency industries through energy saving certificatesPosted Date:- Aug 19, 2021

As part of “Azadi Ka Amrut Mahotsav”, Ministry of Power organised an event yesterday here to issue Energy Saving Certificates to best performing Industrial units. Shri Alok Kumar, Secretary, Ministry of Power issued more than 57 lacs Energy Saving Certificates to 349 industrial units because they saved more energy than the targets. These units will be able to trade certificates through Power Exchange Portal after a month to those units who could not achieve their targets.

Addressing the gathering, Shri Alok Kumar emphasised that all these initiatives will go a long way to make India more energy-efficient, and it will form a replicable model across the globe. Shri Kumar complemented the large industries in taking energy efficiency measures by upgrading their technologies. He highlighted the leadership role being played in the energy transition efforts and India, being the only G-20 country who is on the track for below 2 degree rise as per the Paris agreement. Shri Kumar interacted with CEOs of large industries from Steel, Cement, Refinery, Fertiliser and other sectors. Industry leaders appreciated the efforts of Ministry of Power and assured all possible contribution for making the industrial sector cleaner and efficient in coming years.

Ministry of Power has taken several initiatives to enhance energy efficiency of major industrial sectors. The objective is to reduce consumption of fossil fuel, coal, oil and gas thereby leading to low carbon economy. This will not only enhance energy security for India but will also contribute towards climate goals as per the Paris Agreement.

            One of the flagship initiative known as Perform, Achieve and Trade (PAT) was implemented under Cycle II (during 2016-19) covering 621 large industries from 11 sectors. Bureau of Energy Efficiency who is piloting this initiative completed the verification of energy savings achieved by these industries called as Designated Consumers (DCs). As per the audit reports received by BEE, total energy saving was more than 14 million tonne of oil equivalent (MTOE) which has also avoided 66 million tonnes CO2 emission. This initiative has resulted in energy saving of Rs. 31,445 crores and industries have reported an investment of over Rs. 43,721 crores. In order to incentivise the exemplary performance, Ministry of Power issued Energy Saving Certificates (ESCerts) to those units who exceeded their targets.          

PAT scheme as a market-based mechanism, under National Mission for Enhanced Energy Efficiency (NMEEE) is to enhance cost effectiveness through certification of excess energy savings in energy intensive industries that can be traded. The scheme seeks to reduce the specific energy consumption (SEC), i.e. energy used per unit of production in energy intensive large industries. Under this scheme, an Energy Audit is done to verify the baseline data (current level of efficiency) and thereafter energy saving targets are given. Energy Saving Certificates (ESCerts) are issued to those plants that have achieved excess energy savings over their targets. Units that are unable to meet the targets either through their own actions or through purchase of ESCerts are liable to financial penalty under the Energy Conservation Act, 2001.

After Issuance of ESCerts DCs are required to register with the Registry as Eligible Entity before registering with the power exchanges for trading of ESCerts and book keeping of ESCerts. The Trading of ESCerts takes place on the Power Exchange platform.

“Azadi Ka Amrit Mahotsav”, is the Government’s initiative to mark 75 years of India’s Independence. The idea behind the Mahotsav that starts the celebration of 75 years of India’s Independence 75 weeks before 15th August, 2022 and extends up to Independence Day 2023 is to showcase accomplishments since 1947 so as to instil a sense of pride and to create a vision for ‘India@2047’. The commemorations will include 75 events for 75 weeks with one prominent event every week.

About BEE:

The Government of India has set up the Bureau of Energy Efficiency (BEE) on 1st March 2002 under the provision of the Energy Conservation Act, 2001. The mission of the Bureau of Energy Efficiency is to assist in developing policies and strategies with a thrust on self-regulation and market principles with the primary objective of reducing energy intensity of the Indian economy within the overall framework of the Energy Conservation Act, 2001. This will be achieved with active participation of all stakeholders, resulting in accelerated and sustained adoption of energy efficiency in all sectors.

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