Liberalizing Forex Regulation for improving Exports As per recently unveiled foreign trade policy released by for 2015-20,India has fixed an ambitious target of doubling merchandise and services exports to $900 billion from current $450 bn.It would,in turn,require exports to increase at a compound annual growth rate of about 15% over the next five years.Now if dig into the real scenario of export condition,we would rather see a bleak picture. The top 20 categories accounted for 78.5% of total merchandise exports in the fiscal year to March 2014. Exports of services are even more skewed, with information technology and information technology enabled services accounting for almost 50% of the total.Only three countries,US,UK and Canada accounts for more than two-third of that export. Because of Poor transport and logistics infrastructure, and an inefficient trade facilitation regime added by sucessive decrease in ranking of ease of doing business,has affected Indias merchandise export competitveness.
Liberalizing Forex Regulation for improving ExportsAs per
recently unveiled foreign trade policy released by for
2015-20,India has fixed an ambitious target of doubling merchandise
and services exports to $900 billionfrom current $450 bn.It
would,in turn,require exports to increase at a compound annual
growth rate of about 15% over the next five years.Now if dig into
the real scenario of export condition,we would rather see a bleak
picture.The top 20 categories accounted for 78.5% of total
merchandise exports in the fiscal year to March 2014. Exports of
services are even more skewed, with information technology and
information technology enabled services accounting for almost 50%
of the total.Only three countries,US,UK and Canada accounts for
more than two-third of that export.Because of Poor transport and
logistics infrastructure, and an inefficient trade facilitation
regime added by sucessive decrease in ranking of ease of doing
business,has affected Indias merchandise export competitveness.
