e-platform to enable small-scale manufacturers to find overseas buyers

11/28/2014 Government may consider e-platform to enable small-scale manufacturers to find overseas buyers - Economic Times

http://articles.economictimes.indiatimes.com/2014-05-15/news/49873484_1_services-exports-e-commerce-platform-fieo 1/3

Tags: Wholesale price index | VAT | overseas buyers | open | net worth | MSME | markets | Insurability |FTP | foreign trade policy | FIEO

Tweet

0 0

Recommend

StumbleUponSubmit

Government may consider e-platformto enable small-scale manufacturersto find overseas buyersDilasha Seth, ET Bureau May 15, 2014, 04.55AM IST

NEW DELHI: In order to boost exports, government couldconsider an e-commerce platform to enable small-scalemanufacturers to find overseas buyers.

The five-year foreign trade policy (FTP) 2014-19,which willbe announced after the new government takes over, couldalso look at ways to give a thrust to services exports, andgo big on 'Made in India' branding initiatives. "We areexploring to push exports through an e-commerce platform.It has its complexities, but we will try to work that out. Thiswill definitely open up avenues for small exporters andmanufacturers," said a commerce department official.

India's outbound shipments touched $312 billion in 2013-14, registering a 3.96% growth over the previousfiscal but missed the annual target of $325 billion for the second straight year. Exports fell slightly short ofthe $330 billion estimated during the five-year period.

The government is also open to considering a long-term export target as suggested by the apex exporter'sbody FIEO.

In its presentation to the government, FIEO has recommended a target of $750 billion exports by 2018-19."Rather than setting annual targets, it is a better idea to work on a long-term export target while having mid-term sectoral trade reviews," the official said.

FIEO has also recommended the use of e-commerce platform, which can be used both for business-to-business and business-to-customer transactions.

"There will be a need to define e-commerce-led retail exports in the FTP. These must be exempted fromVAT, CST and also be allowed duty drawback and other export benefits," said FIEO director-general AjaySahai.

The worldwide e-commerce sale has reached over $960 billion, growing at nearly 20%.

The FTP is also expected to include identification of markets, providing branding assistance, assessingneed for a free trade agreement with a particular country or a specific package for exporting high-valueproducts to countries such as the US, the official said.

RELATED ARTICLES

SFI Scheme: Incentives to IT, other servicesexporters...January 20, 2011

Services exports up 9% at $ 12.28 billion in

FOLLOW ET:Log In / Join

Foreign Trade

Agriculture Finance Foreign Trade Indicators Infrastructure Policy

SENSEX28,693.99 255.08

NIFTY8,588.25 94.05

GOLD (MCX) (Rs/10g.)25,967.00 -280.00

USD/INR62.03 0.15

LOGIN to Trackyour Investments

04:04 PM | 28 NovMARKET STATS

EOD

Home News Company Industry Economy Politics and Nation International Emerging Businesses

Indiatimes The Times of India The Economic Times More

You are here: Home > Collections > Ftp

(Indias outbound shipments)



How a two-year-old firm ishitting a daily turnover of Rs4,000 crore today

Apple cuts online price ofiPhone 5S to clear stocks;ties up with Amazon, Flipkartand Snapdeal

BITS-Goa student KrunalKishorbhai Patel lands Rs1.4-crore offer from Google

India's first e-reader Wink unveiled, supporting

15 languages

BITS-Goa student Krunal Kishorbhai Patel

lands Rs 1.4-crore offer from Google

Fed warns of catastrophe if $14.3-trn debt limit

not raised

Tableau Software, Atlassian prepare for IPO

amid market woes

Government may bundle internet, eServices

projects into one

Barack Obamas announcement on

immigration: Whats in it for Indians in US

More from The Economic TimesBJP eyes 'return gift' to PM Narendra Modi forLok Sabha clean sweep 18 Nov 2014

Xiaomi 'discontinues' Mi 3 just a month afterlaunch 27 Aug 2014

How a two-year-old firm is hitting a dailyturnover of Rs 4,000 crore today 16 Sep 2014

Government asks internet service companiesto block pornography sites 11 Nov 2014

More from the webWhy we should all have Africa on our mindsStandard Chartered

Simple Reasons Why Time Management IsSo Important Citi Blog

There's Amazing Content Online. How toKnow What to Read Next Sphere

10 Countries with the Largest Gold ReservesEscapeHere

Recommended by

Indian exports clocked a compounded annual growth rate of 17.2% between 2003-04 and 2013-14. However,the compounded annual growth rate came down to 11.01% between 2008-09 and 2013-14, FIEO noted in itsreport.

The other items on the policy could be adoption of higher standards, promotion of currency trading andservices exports.

"In the current FTP, there is no focus on the services sector. When we are earning $148 billion from servicesexports, there is no reason why there shouldn't be special incentives for services exports," commercesecretary Rajeev Kher had told ET on an earlier occasion.

FIEO has suggested an extension of the 3% interest subvention scheme to the services exports sector forMSMEs (micro, small and medium enterprises) to begin with. Services exports have just one scheme atpresent - Served From India Scheme - where service providers are entitled for a duty credit scrip.

FIEO has also recommended creation of an export development fund with a corpus of a minimum 0.5-1% ofthe preceding year's exports. In order to replenish the fund, FIEO has suggested a cess of 0.25-0.5% ofexports on raw material exports, with a similar contribution by the government.

China Imports Productshktdc.com

Connect with over 120,000 suppliers from Hong Kong,China and Taiwan

Packaging Solutionsdupont.co.in/Know_More

Extensive mix of adhesive, barrier, peelable lidding& sealant resins.

FEATURED ARTICLES

More:

Readers' opinions (NaN)

Sort by: Newest | Oldest

FebruaryApril 15, 2013

Foreign trade policy to focus on servicesexports, branding...April 15, 2014

IN-DEPTH COVERAGEFtp

Currency Trading

Red Tape to Red Carpet

Starting a business to becomeeasier by April 2015The government will move to an onlineapproval system for more than 200 permitsrequired by different industries from central andstate departments.

Intel wants govt to strengthen protection fortrade secrets under IPRTelangana's new industrial policy to ensureright to timely clearances

Push for renewable energy

Rs 4,000 crore push for 25 solarparksThese measures would save additionalexpenditure by developers and reduce projectcost. Goyal pegged the project cost at Rs 0.95crore per mw.

Renewable energy will change the energylandscape as we know itPiyush Goyal says govt will act soon toresolve fuel scarcity issue

SPOTLIGHT

http://articles.economictimes.indiatimes.com/2014-09-16/news/53983463_1_daily-turnover-institutional-broking-business-direct-market-accesshttp://articles.economictimes.indiatimes.com/2014-09-04/news/53563459_1_iphone-5s-exclusive-apple-stores-16gbhttp://articles.economictimes.indiatimes.com/2014-11-08/news/55894368_1_computer-science-lands-rs-pilanihttp://articles.economictimes.indiatimes.com/2010-08-19/news/28663093_1_e-reader-wink-e-bookshttp://articles.economictimes.indiatimes.com/2014-11-08/news/55894368_1_computer-science-lands-rs-pilanihttp://articles.economictimes.indiatimes.com/2011-02-05/news/28432182_1_debt-limit-debt-ceiling-ben-bernankehttp://articles.economictimes.indiatimes.com/2012-06-08/news/32124237_1_software-companies-facebook-s-ipo-internet-companieshttp://articles.economictimes.indiatimes.com/2014-11-22/news/56362236_1_broadband-venture-universal-services-obligation-fund-national-optic-fibre-networkhttp://articles.economictimes.indiatimes.com/2014-11-21/news/56339544_1_dhs-green-cards-lprhttp://www.googleadservices.com/pagead/aclk?sa=L&ai=CBqbI46F4VLn6CYquuATpvoHgDYvT4-IFg52K4n7z2vffCxABIO3SmyEoAmDlouaDuA6gAcWgqv4DyAEBqQKpU_79HE-BPqgDAcgD4wSqBOgBT9BxrtLi5hqa4Ude3nOnnJgrh-08XIU5o9OKz6dKX23CrHRo6y4VzJ6PkYlJin1GwH4RXW-v0sxJ_421-WOqBix4yaW1mFkIDkkijl5NGLJvDtv54RvJF_ZBGrc72oALr-mgCLCfZjxhDQEBUK6ljnVNlgeXAJMWVV6rzDVo21VDyi3lONLvTMCebmvqE2DD0e73G7-Yz8CxHpb0ZY_ueCgivcGMKNltbe6rLqM3OLsIYmtBLQ2emD1uCIYOW3zDlu4HgQSt2ICyIVinpSkyasjSGXr7RBlzmpKMlyl3hdOfmQOCKN_oNIgGAYAHo9_VAQ&num=1&cid=5GgCBRs82I1KglQHQhRffiYQ&sig=AOD64_1bHwyWshIQHh5pLmF7-m5VL4x7Wg&client=ca-pub-8415620659137418&adurl=http://web01.optimix.asia/agclk%3Fdistribution%3Dcontent%26mobile%3D%26keyword%3D%26matchtype%3D%26placement%3Darticles.economictimes.indiatimes.com%26adgrp%3D%7Badgroup%7D%26creative%3D33960899187%26opxseid%3D398%26opxagid%3D1791227187%26opxurl%3Dhttp://www.hktdc.com/asia-china-suppliers-and-manufacturers%3FWT.srch%3D1%26DCSext.dept%3D2%26WT.mc_id%3D1737445http://www.googleadservices.com/pagead/aclk?sa=L&ai=CBqbI46F4VLn6CYquuATpvoHgDYvT4-IFg52K4n7z2vffCxABIO3SmyEoAmDlouaDuA6gAcWgqv4DyAEBqQKpU_79HE-BPqgDAcgD4wSqBOgBT9BxrtLi5hqa4Ude3nOnnJgrh-08XIU5o9OKz6dKX23CrHRo6y4VzJ6PkYlJin1GwH4RXW-v0sxJ_421-WOqBix4yaW1mFkIDkkijl5NGLJvDtv54RvJF_ZBGrc72oALr-mgCLCfZjxhDQEBUK6ljnVNlgeXAJMWVV6rzDVo21VDyi3lONLvTMCebmvqE2DD0e73G7-Yz8CxHpb0ZY_ueCgivcGMKNltbe6rLqM3OLsIYmtBLQ2emD1uCIYOW3zDlu4HgQSt2ICyIVinpSkyasjSGXr7RBlzmpKMlyl3hdOfmQOCKN_oNIgGAYAHo9_VAQ&num=1&cid=5GgCBRs82I1KglQHQhRffiYQ&sig=AOD64_1bHwyWshIQHh5pLmF7-m5VL4x7Wg&client=ca-pub-8415620659137418&adurl=http://web01.optimix.asia/agclk%3Fdistribution%3Dcontent%26mobile%3D%26keyword%3D%26matchtype%3D%26placement%3Darticles.economictimes.indiatimes.com%26adgrp%3D%7Badgroup%7D%26creative%3D33960899187%26opxseid%3D398%26opxagid%3D1791227187%26opxurl%3Dhttp://www.hktdc.com/asia-china-suppliers-and-manufacturers%3FWT.srch%3D1%26DCSext.dept%3D2%26WT.mc_id%3D1737445http://www.googleadservices.com/pagead/aclk?sa=L&ai=Cn8-V46F4VLn6CYquuATpvoHgDdmZ56MF6cGUnuwBwI23ARACIO3SmyEoAmDlouaDuA6gAe_8h9UDyAEBqQLIqnmHMUJRPqgDAcgD4wSqBOgBT9Bxytvs5hma4Ude3nOnnJgrh-08XIU5o9OKz6dKX23CrHRo6y4VzJ6PkYlJin1GwH4RXW-v0sxJ_421-WOqBix4yaW1mFkIDkkijl5NGLJvDtv54RvJF_ZBGrc72oALr-mgCLCfZjxhDQEBUK6ljnVNlgeXAJMWVV6rzDVo21VDyi3lONLvTMCebmvqE2DD0e73G7-Yz8CxHpb0ZY_ueCgivcGMKNltbe6rLqM3OLsIYmtBLQ2emBdIEOEOW3zDlu4HgQSt2ICyIVinpSkyasjSGXr7RBlzmpKMlyl3hdOfmQOCdrmZHIgGAYAH-YL4Kg&num=2&cid=5GgCBRs82I1KglQHQhRffiYQ&sig=AOD64_14vzhehEKXk6IQV3dxGj5aevXjUQ&client=ca-pub-8415620659137418&adurl=http://www.dupont.co.in/corporate-functions/our-approach/global-challenges/shunya/food-safety-protection-solutions.html%3Fsiteid%3DGoogleS%26adunit%3DTexthttp://www.googleadservices.com/pagead/aclk?sa=L&ai=Cn8-V46F4VLn6CYquuATpvoHgDdmZ56MF6cGUnuwBwI23ARACIO3SmyEoAmDlouaDuA6gAe_8h9UDyAEBqQLIqnmHMUJRPqgDAcgD4wSqBOgBT9Bxytvs5hma4Ude3nOnnJgrh-08XIU5o9OKz6dKX23CrHRo6y4VzJ6PkYlJin1GwH4RXW-v0sxJ_421-WOqBix4yaW1mFkIDkkijl5NGLJvDtv54RvJF_ZBGrc72oALr-mgCLCfZjxhDQEBUK6ljnVNlgeXAJMWVV6rzDVo21VDyi3lONLvTMCebmvqE2DD0e73G7-Yz8CxHpb0ZY_ueCgivcGMKNltbe6rLqM3OLsIYmtBLQ2emBdIEOEOW3zDlu4HgQSt2ICyIVinpSkyasjSGXr7RBlzmpKMlyl3hdOfmQOCdrmZHIgGAYAH-YL4Kg&num=2&cid=5GgCBRs82I1KglQHQhRffiYQ&sig=AOD64_14vzhehEKXk6IQV3dxGj5aevXjUQ&client=ca-pub-8415620659137418&adurl=http://www.dupont.co.in/corporate-functions/our-approach/global-challenges/shunya/food-safety-protection-solutions.html%3Fsiteid%3DGoogleS%26adunit%3DText



2014 Bennett, Coleman & Co. Ltd. All rights reserved Index by Keyword|Index by Date

www.economictimes.com Feedback|Privacy Policy|Terms of Use|Advertise with us

http://www.economictimes.com/http://articles.economictimes.indiatimes.com/keywordshttp://articles.economictimes.indiatimes.com/2014/nov/26http://economictimes.indiatimes.com/feedback.cmshttp://www.indiatimes.com/privacypolicy/http://www.indiatimes.com/policyterms/3441503.cmshttp://advertise.indiatimes.com/

e-platform to enable small-scale manufacturers to find overseas buyers

Documents