provisions of the Foreign Trade Policy and fiscal incentives were made effective through the
      provisions of relevant statutes.
            The SEZ Act, 2005, supported by SEZ Rules, came into effect in 2006, providing
      simplification of procedures and single window clearance on matters relating to central and state
      governments. The main objectives of the SEZ Act are: generation of additional economic
      activity; promotion of exports of goods and services; promotion of investment from domestic
      and foreign sources; creation of employment opportunities; and development of infrastructure
      facilities.
      Export Credit
            Project exports are being encouraged, especially in the emerging markets with high
      infrastructure needs, through special lines of credit offered by the Ministry of External Affairs
      and the Buyers’ Credit Scheme of the Department of Commerce through Exim Bank of India and
      Export Credit Guarantee Corporation of India (ECGC). This will, inter alia, continue to enable
      Indian businesses to develop long term business relationships, facilitate easier acceptance of
      India’s exports and build visibility for Indian products. In addition, EXIM Bank will undertake a
      study on the concept of ‘revolving credit’ for promoting exports in new markets, especially in
      South Asia, Africa, CIS and Latin America. EXIM Bank will also explore developing strong ties
      with international lending agencies such as African Development Bank, Inter-American
      Development Bank, Caribbean Bank, etc. ECGC will be supported to enhance insurance cover to
      exporters particularly MSME’s exploring new or difficult markets. ECGC is a premier export
      credit agency and its portfolio has nearly 20,000 distinct exporters, 85 per cent of whom are
      MSMEs. ECGC will get a fresh capital infusion of ₹ 2,000 crore in 3 years, with ₹ 1,000 crore
      being added to enable it to support a larger number of exporters. ECGC has settled claims of
      nearly ₹ 7,000 crore in the last 10 years which has provided support to the exporters, and relief to
      the banking system.
      Digitisation and PFMS
            Successful implementation of the Public Financial Management System (PFMS) had been
      rolled out in all PAOS of this office Pay and Accounts Offices of Delhi, Chennai, Kolkata and
      Mumbai. For digitisation, EAT module and DBT module of PFMS has been implemented for
      end to end online payments. A part of pre-check as well as payment for bills is also done through
      electronic mode via PFMS.
      Quality Standards
            Government is committed to transforming India into a manufacturing and exporting hub.
      This will require focus on improving product quality. Many Indian products fail quality tests due
      to traces of pesticides, pathogens, illegal dyes, etc. An endeavour would be made to upgrade
      quality and infrastructure to help firms to move to higher quality standards and also protect
      Indian consumers from substandard imports. Setting up more globally accredited testing
      laboratories, enhancing the capacity of Indian testing laboratories and Mutual Recognition
      Agreements (MRA) with partner countries would be areas of focus. A roadmap has been
      developed on measures required to protect consumers, raise the quality of the merchandise
      produced and enhance India’s capacity to export to even the most discerning markets.