Question

In: Economics

India’s share in world trade increased from 0.5 to 2% over the last 7 years. The...

India’s share in world trade increased from 0.5 to 2% over the last 7 years. The Government believes that this is on account of the trade policy initiatives. Do you agree? Explain.

Solutions

Expert Solution

Answer: I agree that the increase in the share of exports from .5 percent to 2 percent over the last seven years is contributed by government policies to enhance exports from India. The major policies and programs introduced by the government of India to increase its Export share in World Market are:-

1, Market Development Assistance Scheme.

2, Export Oriented Unit Scheme.

3, Software Technology Park Scheme

4, Services Export from India Scheme.

5, Market Access Initiative Scheme.

6, Export Promotional Capital Goods Zero Duty Scheme.

7, The Merchandise Export from India Scheme.

8, Advance Authorization Scheme.

9, Advance Authorization for Annual Requirement.

10, Customs, Central Excise and Export Duty Drawback Scheme.

11, GST Tax Rebate.

12, Duty Free Import Authorization.

13, Post Export Promotional Capital Goods Duty Credit Scrip Scheme.

14, Towns of Export Excellence.

15, Fright Assistance to Exporters.

16, Rebates of State Levies etc.

These are some of the schemes to enhance Exports of India. All these schemes were helped in the growth of Exports from India in the World Market. Thus we cannot disagree with the above argument of the government.

Rahul Sunny answered 1 year ago
Next > < Previous

Related Solutions

4) what is the general assessment of India’s risk? Has the risk increased or decreased over...
4) what is the general assessment of India’s risk? Has the risk increased or decreased over the past year? What factors caused this change? Each member of the group needs to access a different resource here and provide an independent/objective view. Briefly discuss your findings.
Over the last 5 years, Kansas Whiskey has increased their production from 4,000 units per year...
Over the last 5 years, Kansas Whiskey has increased their production from 4,000 units per year to 6,000 units per year. Over that same time period its costs per unit (long-run ATC) has decreased from $8.50 per unit to $6 per unit. This means that Kansas Whiskey is experiencing a. Economies of Scale b. Constant Returns to Scale c. Diseconomies of Scale
Does increased World Trade mean increased risk? Please explain
Does increased World Trade mean increased risk? Please explain
Over the decades trade volume has increased due to reduction in tariffs, increased trade agreements, and...
Over the decades trade volume has increased due to reduction in tariffs, increased trade agreements, and subsidies among other trade enhancing measures. Gerber (2018) observed that the trade system has established trading rules and reduced tariffs under the GATT and WTO umbrellas. Although there has been significant reduction in tariffs and trade barriers there are still advances to eliminate tariffs even further. One might argue that such a move would only have diminishing returns to trade negotiations and a minor...
Over the decades trade volume has increased due to reduction in tariffs, increased trade agreements, and...
Over the decades trade volume has increased due to reduction in tariffs, increased trade agreements, and subsidies among other trade enhancing measures. Gerber (2018) observed that the trade system has established trading rules and reduced tariffs under the GATT and WTO umbrellas. Although there has been significant reduction in tariffs and trade barriers there are still advances to eliminate tariffs even further. One might argue that such a move would only have diminishing returns to trade negotiations and a minor...
The incidence of chronic illness has increased over the last several years in both developing and...
The incidence of chronic illness has increased over the last several years in both developing and developed countries. Please explain why for both.
Question 1: Table 1. India’s trade Years Exports Imports Balance of trade ($millions) $millions % Growth...
Question 1: Table 1. India’s trade Years Exports Imports Balance of trade ($millions) $millions % Growth $millions % Growth 2012 289,562 N/A 488,975 N/A -199,413 2013 336,609 466,044 -129,435 2014 317,542 459,368 -141,826 2015 264,378 390,744 -126,366 2016 260,324 356,704 -96,380 Table 2. India’s trading partners (2016) Export trading partners Import trading partners Countries $millions % Countries $millions % 1. United States 41,992 16.1 1. China 60,483 16.9 2. Hong Kong, China 13,209 5.1 2. United States 20,395 5.7 3....
Student debt has significantly increased over the last few years and it has become a major...
Student debt has significantly increased over the last few years and it has become a major national debate in countries like the US, Canada and UK. I 1- Give a brief overview of the student debt in Canada. 2- What is the impact of student loans on: students (before college, during college and after college); the economy ; the society at large 3- What are some policies that Canada and other nations have implemented to mitigate student debt? What policies...
Discuss the major causes of fraud over the last few years. What areas have increased and...
Discuss the major causes of fraud over the last few years. What areas have increased and what areas have decreased? Why is this the case? Have the costs of fraud increased or decreased? What is the single most effective method to prevent fraud from occurring according to the report?
Who is/are the major beneficiary, meaning “winner” from globalization and increased world trade: Select one: a....
Who is/are the major beneficiary, meaning “winner” from globalization and increased world trade: Select one: a. Business b. Workers c. Governments d. The Environment e. Consumers
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT