send mail to support@abhimanu.com mentioning your email id and mobileno registered with us! if details not recieved
Resend Opt after 60 Sec.
By Loging in you agree to Terms of Services and Privacy Policy
Please specify
Please verify your mobile number
Login not allowed, Please logout from existing browser
Please update your name
Subscribe to Notifications
Stay updated with the latest Current affairs and other important updates regarding video Lectures, Test Schedules, live sessions etc..
Your Free user account at abhipedia has been created.
Remember, success is a journey, not a destination. Stay motivated and keep moving forward!
Refer & Earn
Enquire Now
My Abhipedia Earning
Kindly Login to view your earning
Support
The recent global economic slowdown has adversely affected the world trade growth. India is also not immune from it as the export growth has slipped into negative territory at 15.5% in 2015-2016.India’s merchandise export performance is the outcome of the complex interplay of global as well as internal factors.
1.The economic slowdown in China, Japan and EU, great commodity price crash and a decline in the trade elasticity has led to lower demand for Indian goods. 2.Increased competition to India’s export in third country markets as India competes with China in several products from apparel and footwear to steel and chemicals. 3.Growing sentiment against globalization, slow progress on bilateral trade negotiations (for example with EU; Brexit poses new uncertainties). 4.Increasing competition from LDC’s as they have labour cost advantage over India.
1.Limited diversification of export basket. 2.Due to India’s increased demand for petroleum products, the export of refined crude and petroleum products has fallen. This is further affected by fall in petroleum prices.
1.Ratified the Trade Facilitation Agreement (TFA) of the WTO. The pact aims to expedite the movement, release and clearance of goods, including goods in transit. 2.GST regime has a fast-track process for refund of duties and taxes to exporters; this will boost India’s exports. 3.Under the Foreign Trade Policy 2015-20, the government introduced ‘Merchandise Exports from India Scheme’ for diversification of India’s export markets and products. 4.Improving `Ease of doing business’: By introducing measures like online submission of documents, online payment, and electronic fund transfer for facilitating trade. 5.Providing better access to various markets: Through regional, bilateral and multilateral trade negotiations with various countries and trade blocks. 6.Promoting exports-the State governments have been requested to develop their export strategy, appoint export commissioners, address infrastructure constraints restricting movement of goods and address other issues relating to various clearances and build the capacity of new exporters.
The government should continuously monitor the export performance of different sectors and take need based measures keeping in view the emerging global financial situation and overall economic implications.
By: Harman Sandhu ProfileResourcesReport error
Access to prime resources