New Delhi: The US has emerged as India's top destination for merchandise exports during April-December this fiscal at USD 59.7 billion, Parliament was informed on Friday. In a written reply to the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said the government has taken a series of measures to promote the country's exports.
The steps include an extension of existing foreign trade policy till March 31; an extension of interest equalisation (subsidy) scheme on pre and post-shipment rupee export credit till March 31 next year; and a roll-out of Remission of Duties and Taxes on Exported Products (RoDTEP) scheme.
According to the data provided by the minister in his reply, the US was followed by UAE (USD 23.31 billion); Netherlands (USD 14.1 billion); China (USD 11 billion); Singapore and Bangladesh (about USD 9 billion each).
In reply to a question on startups, Minister of State for Commerce and Industry Som Parkash said that Startup India Seed Fund Scheme (SISFS) is implemented from April 2021.
"Under the Scheme, Rs 477.25 crore has been approved to 133 incubators of which Rs 211.63 crore has been disbursed as on 31st December 2022," Parkash said.
Read more at: https://economictimes.indiatimes.com/news/economy/foreign-trade/us-emerges-as-indias-top-destination-for-goods-exports-during-april-dec-2022/articleshow/97608498.cms