ternal 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