Transcription of Chapter-3 Foreign Trade Policy
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Chapter-3 Foreign Trade Policy
27 Chapter-3 Foreign Trade PolicyExport Performance and the Foreign Trade Policy (FTP)Global economic outlook is a major determinant of export performance of any country. India s output and exports were not completely immune to the global economic slowdown of 2008-09. India s exports declined by in 2009-10. Export growth rate was in 2010-11 and it was around during April - December 2011-12 over the same period last year. The immediate and the short term objective of FTP 2009-14 Policy was to arrest and reverse the declining trend of exports which was successfully achieved by providing additional support especially to those sectors which were hit badly by recession in the developed world.
30 Annual Report 2011-12 Box 3.3 gives a glimpse of the additional Trade policy Measures announced in the backdrop of D. Services: • FTP also provided fillip to services sector (Hotels) by doubling duty free entitlement under Served from India Scheme (SFIS) from 5% to 10% of foreign exchange earnings.
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