Describe the role played by the Public Sector in Export Promotion in India. (ACF 2018)

Providing financial assistance: 

  • The public sector provides financial assistance to exporters through a variety of schemes, such as the Export Credit Guarantee Corporation of India (ECGC) and the Export-Import Bank of India (Exim Bank). 
  • These schemes help exporters to obtain loans at lower interest rates and to insure their export shipments against risks such as political and commercial risks.

Providing technical assistance: 

  • The public sector provides technical assistance to exporters through a variety of schemes, such as the Technology Development and Transfer Fund (TDTF) and the National Manufacturing Competitiveness Council (NMCC). 
  • These schemes help exporters to improve their product quality, production processes, and marketing strategies.

Providing marketing assistance: 

  • The public sector provides marketing assistance to exporters through a variety of schemes, such as the Trade Promotion Council of India (TPCI) and the Indian Trade Promotion Organisation (ITPO). 
  • These schemes help exporters to identify new export markets, to participate in international trade fairs and exhibitions, and to obtain market research reports.

Providing infrastructure: 

  • The public sector provides infrastructure to exporters through a variety of schemes, such as the Special Economic Zones (SEZs) and the Export Processing Zones (EPZs). 
  • These schemes provide exporters with access to world-class infrastructure, such as ports, airports, roads, and railways.

The public sector’s role in export promotion is essential for India’s economic development. Exports help to generate foreign exchange, create jobs, and boost economic growth. The public sector’s initiatives help to make Indian exporters more competitive in the global market.

Schemes and programs:

Export Credit Guarantee Corporation of India (ECGC):

  • The ECGC is a government-owned corporation that provides export credit insurance to exporters. This insurance covers exporters against the risk of non-payment by overseas buyers.

Export-Import Bank of India (Exim Bank):

  • The Exim Bank is a government-owned bank that provides financial assistance to exporters. This assistance can take the form of loans, guarantees, and risk cover.

Technology Development and Transfer Fund (TDTF):

  • The TDTF is a government-funded fund that provides financial assistance to exporters to develop and adopt new technologies.

National Manufacturing Competitiveness Council (NMCC):

  • The NMCC is a government-industry partnership that provides advisory services to exporters on how to improve their manufacturing competitiveness.

Trade Promotion Council of India (TPCI):

  • The TPCI is a government-owned organization that helps exporters to identify and develop new export markets.

Indian Trade Promotion Organisation (ITPO):

  • The ITPO is a government-owned organization that helps exporters to participate in international trade fairs and exhibitions.

Special Economic Zones (SEZs):

  • SEZs are designated areas where exporters can enjoy a number of tax and other benefits.

Export Processing Zones (EPZs):

  • EPZs are similar to SEZs, but they are located within customs bonded areas.

These are just some of the schemes and programs that are run by the public sector to promote exports in India. The public sector plays a vital role in helping Indian exporters to compete in the global market.

Leave a Comment

Your email address will not be published. Required fields are marked *

error: Content is protected !!