Year End Review 2021 for Department of Commerce, Ministry of Commerce and Industry

What is the news?

The Department of Commerce has taken several steps during the year 2021.

Measures taken by Commerce Ministry

Merchandise Exports: Department of Commerce has set a target of US$ 400 billion of merchandise exports by the year 2021-22. Currently, merchandise exports have reached 65% of the target of USD 400 Billion till November 2021.

Services Exports: India’s share in world commercial services exports has increased from 3.5% in 2019 to 4.1% in 2020 leading to improvement of India’s rank in leading exporters of commercial services from 8th to 7th in 2020.

India and Mauritius signed the Comprehensive Economic Cooperation and Partnership Agreement (CECPA)

Foreign Trade Policy(FTP) 2015-20 was extended for the year 2021-22 i.e. up to 31st March 2022.The policy outlines government strategies and steps to promote domestic production and exports to drive economic growth.

Scheme for Remission of Duties and Taxes on Exported Products(RoDTEP)

Service Exports from India Scheme (SEIS) 

India and the United Arab Emirates (UAE) have launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA)

India Pavilion at World Expo 2020 at Dubai: World Expo 2020 is being held in Dubai.The main theme of World Expo 2020 is “Connecting Minds, Creating the Future”. 

Government e-Marketplace (GeM)

National Logistics Policy: The Policy targets to reduce the cost of logistics by about 5% over the next 5 years, achieving a ranking in the top 25 of major global logistics-related performance indices, and encouraging environmentally sustainable, inclusive and future ready logistics.

PM Gati Shakti NMP

Trade Infrastructure for Export Scheme (TIES): The scheme aims to enhance export competitiveness by supporting development of export linked infrastructure that can be utilized by multiple exporters. The scheme has been extended further for 5 years, i.e. from 2021-22 to 2025-26.

Agriculture Export Policy

Blockchain Technology in GrapeNet: APEDA implemented a Blockchain solution as part of its GrapeNet traceability system. The Blockchain technology helped to track all the activities and steps involved in the grape life cycle, right from farm allocation to the delivery of grapes.

Coffee Development Programme in Odisha: Coffee Board has initiated a programme with the Government of Odisha to promote coffee and black pepper cultivation by tribals in Koraput District.

Rubber Census: Rubber Board is conducting national census on rubber by using digitized mobile application, ‘RUBAC’, developed in association with Digital University, Kerala. The census aims to ascertain the area under rubber, new-planted area, re-planted area, the age profile of trees among others.

Source: This post is based on the article Year End Review 2021 for Department of Commerce, Ministry of Commerce and Industrypublished in PIB on 8th Jan 2022.

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