Consider the following statements regarding Foreign Trade Policy 2015 20 1 It aims to increase ...........

Economic Affairs Foreign Trade - Trends and Policy

Consider the following statements regarding Foreign Trade Policy 2015-20-

1. It aims to increase India’s export of merchandise and services to $ 900 billion by 2019-20.

2. It aims to increase India’s share in world exports to 3.5 per cent.

3. ‘Merchandise Exports from India Scheme (MEIS)’and ‘Services Exports from India Scheme (SEIS)’ has been introduced under the policy.

Which of the above statements is/are correct?

1 Only

2 Only

1 and 3 Only

1, 2 and 3

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Explanation:

Foreign Trade Policy 2015-20, the government aims to increase India's export of merchandise and services from $465.9 billion to about $900 billion by 2019-20 and to raise India's share in world exports (goods and services) from two per cent to 3.5 per cent,

FTP 2015-20 introduces two new schemes, namely ‘Merchandise Exports from India Scheme (MEIS)’ for export of specified goods to specified markets and ‘Services Exports from India Scheme (SEIS)’ for increasing exports of notified services.