FTP’23 a game changer, opens new export growth avenues through e-commerce, third country trade reforms: FISME
New Delhi, Apr 1 (KNN) The Foreign Trade Policy 2023 released by Union Commerce and industry Minister Piyush Goyal in New Delhi on Friday has brought cheers among the exporting community including the Micro, Small and Medium Enterprises (MSMEs).
“The FTP 2023 would be remembered for broad-basing exports by including Districts and States into national export strategy and opening up e-commerce and Third Country Trading,” says Anil Bhardwaj, Secretary General of Federation of Indian Micro and Small & Medium Enterprises (FISME).
“Extending all FTP benefits to e-commerce and increasing the value of e-commerce consignment to Rs 10 lakh will give rise to exponential growth to courier exports and easing norms for Third-party trading would help give rise to global sized Indian trading companies,” he adds.
FISME has been raising these two issues for a long time. A delegation from FISME had submitted a memorandum to the Union Minister for giving parity to e-commerce and reforming norms for third party trading.
FISME has also welcomed emphasis on Districts and Clusters where the real action lies.
Firstly, four more towns namely Faridabad, Moradabad, Varanasi and Mirzapur, are added to the existing list of 39 towns of export excellence (TEE).
A range of cluster development and export schemes are being converged in the TEEs
According to Secretary General FISME, “The new emphasis on ‘Districts as Export Hubs’ could be a game changer not only for boosting exports but also in sensitizing and aligning the local administration towards promotion of business and issues of competitiveness of local industry.”
The policy lays out a detailed road map towards developing Districts as Exports Hub.
Each District is to have a District Export Promotion Committee (DEPC) proposed to be chaired by Collector/DM/DC of the District and co-chaired by designated DGFT Regional Authority with various other stakeholders as its members.
The primary function of the DEPC will be to prepare and implement District specific Export Action Plans in collaboration with all the relevant stakeholders from the Center, State and the District level. (KNN Bureau)