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Kerala PSC Indian Economy Book Study Materials Page 433
Book's First Pageternal e tor in ndia 15.19 India--SACU (South Africa, Botswana, improving the ‘ease of doing business’. The special Lesotho, Swaziland and Namibia) PTA: Five features of the FTP 2015–20 are as follows: rounds of negotiations have been held so far. (i). Two new schemes have been intorduced, The Ninth Joint Ministerial Commission (JMC) namely— meeting was held at Durban in March 2015. (a) Merchandise Exports from India BIMSTEC (Bangladesh, India, Myanmar, Sri Scheme (MEIS) for export of specified Lanka, Thailand, Bhutan and Nepal) FTA: Twenty goods to specified markets. meetings of the Trade Negotiating Committee (b) Services Exports from India Scheme (TNC) have taken place. The 20th meeting was (SEIS) for increasing exports of held in September 2015 in Khon Kaen Province, notified services, in place of a plethora Thailand. of schemes earlier, with different India-Canada FTA: Nine rounds of conditions for eligibility and usage. negotiation on the India-Canada Comprehensive There would be no conditionality Economic Partnership Agreement (CEPA) have attached to any scrips issued under these so far been held. The ninth round was held in schemes. Duty credit scrips issued under Ottawa, Canada by March 2015. MEIS and SEIS and the goods imported India--Australia CECA: Nine rounds of against these scrips are fully transferable. negotiations have been held so far. The ninth For grant of rewards under MEIS, the round was held between by September 2015 in countries have been categorized into 3 Delhi. Groups, whereas the rates of rewards Regional Comprehensive Economic Partnership under MEIS range from 2 per cent to 5 (RCEP) Agreement among ASEAN + Six FTA per cent. Under SEIS the selected Services Partners (Australia, China, India, Japan, would be rewarded at the rates of 3 per South Korea and New Zealand): Based on the cent and 5 per cent. Declaration of the Leaders during the ASEAN (ii) Measures have been adopted to nudge Summit in November 2012, negotiations for a procurement of capital goods from comprehensive economic partnership between the indigenous manufacturers under the 10 ASEAN member states and its six FTA partners EPCG scheme by reducing specific export commenced in May 2013. Fourteen rounds of obligation to 75 per cent of the normal negotiations have so far been held. export obligation. This will promote the domestic capital goods manufacturing industry. Such flexibilities will help new foreign traDe Policy exporters to develop their productive The GoI announced the new Foreign Trade capacities for both local and global Policy 2015–20 on April 1, 2015. The new five consumption. year Foreign Trade Policy, 2015–20 provides a (iii) Measures have been taken to give a boost framework for increasing exports of goods and to exports of defense and hi-tech items. services as well as generation of employment At the same time e-Commerce exports of and increasing value addition in the country, in handloom products, books/periodicals, keeping with the Make in India. The focus of the leather footwear, toys and customized new policy is to support both the manufacturing fashion garments through courier or and services sectors, with a special emphasis on foreign post office would also be able