Trade policies of India Vs Developed Nations: Study

New Delhi, Feb 13 (KNN) Export of India is continuously declining from last 13 months raising several questions over the present trade promotion policies.
 
There are several questions in the minds for entrepreneurs, economists and all stakeholders that- What kind of support we provide to MSMEs? What kind of technical and professional support government provides?
 
In order to get the best answers for the questions, a detailed study has been conducted by students of Bimtech with the support of industry body FISME to analyse the policies that the developed countries are practicing.

The study has been conducted on the policies of eight countries - USA, UK, Singapore, South Korea, China, Australia, Germany and Taiwan.

1. UNITED STATES OF AMERICIA (EXPORT- USD1.62 trillion)

USA provides exhibition support in HANNOVER MESSE, has country commercial guide and top market series to facilitate market research by specific country and industry respectively. It also has single website called export.gov which is linked to all the departments and provide all relevant information.
 
2. UNITED KINGDOM (EXPORT- USD 503 billion)
UK has very unique policies like E-export program which helps businesses to grow online support, E expertise bank, Post graduate program in which government provides business MBA- international business professionals. Some of the other policies are Trade sow access program, overseas market induction program and Small and medium business development program.
 
3. SOUTH KOREA (EXPORT-USD 572 billion)
South Korea has business match making program an online portal which help foreign importers to find suppliers for South Korea. It has its whole exhibition industry, paperless trade initiative and cultural business promotion.
 
4. CHINA (EXPORT- USD 2.2 trillion)
China has favourable income tax policies for small business; it promotes networking among enterprises, export tax rebate, marketing support and private firms like CHINAWHY which provides multiple international trade services.
 
5. SIGAPORE (EXPORT-USD 515 billon)
SIGAPORE has numerous multilateral, bilateral, regional, double tax avoidance and investment guarantee agreements signed with various countries. It is also the member of  various trade blocks like ASEAN, APEC and ASEM. It had support programs like Local Enterprise and Association Development, International Marketing Activities Programme and Trade Facilitation Scheme.
 
Other 3 countries namely Taiwan, Australia and Germany also have their unique and interesting policies which are in sync with modern world. All the policies are mentioned in detail in the full report. We should ponder on how we could use these policies and have our own unique policies which suits id India context.

To view the full study click the link below:
http://www.fisme.org.in/document/FULL-REPORT.docx


(KNN/ BIMTECH/ Aayush Makkar)