Foreign Trade Policy 2023 And eCommerce Exports

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The potential of e-commerce export from India is expected to reach a range of $200 to $300 Billion by 2030.

With the eCommerce exports sector making surging sales and revenue in foreign markets, the Foreign Trade Policy 2023 has brought in multiple incentives and regulations in place to help Indian exporters make it in the world market.

What Is The Foreign Trade Policy (FTP) 2023
The Foreign Trade Policy, commonly known as FTP, is a detailed policy that outlines all the updates in schemes deployed to facilitate export from India.

The Foreign Trade Policy of 2023 was released on the 31st of March, to be in effect macedonia phone number list from the 1st of April 2023, by the Union Ministry of Commerce and Industry, Consumer Affairs, Food, and Public Distribution and Textiles.

Prime Pillars Of FTP 2023
Duty Remission: Schemes for the remission of duties and taxes on exported products. For example, the import of requisite spare parts which are exported with the finished products will be permitted duty-free passage up to 10% of CIF value.
Export promotion – Empower MSMEs and small-scale industries to get the benefit of export opportunities in overseas markets via export hubs in more districts.
Easy Business Initiation In Exports: Exporters can do business with a reduction in transaction costs across borders as well as be provided financial assistance.