Foreign trade policy of India gives importance to export promotion. Diﬀerent steps have been taken to increase the export of both traditional and non-traditional goods. Increase in export needs means an increase in the demand for our goods in the foreign market. To achieve this, the Government has given importance to market-related research and survey.
Trade fairs and exhibitions are organized by our Government in foreign countries to develop and generate interest for our products. Representatives are sent to foreign countries to create a market for our products. The bilateral trade agreement is also signed and improved among diﬀerent countries.
Generation of interest for our produced goods is not enough to boost export but it needs to ﬁx an accepted price to the foreigners. It needs modernization of export units and the use of new techniques to make it more competitive. Keeping these things in mind our Government has given importance to modernize export units.
Diﬀerent steps have been taken for export promotion. In some sectors, a subsidy is given to the export units. In other sectors, permission is granted to import raw materials and machinery etc. against exported goods. Except these, taxes are also reduced on the commodities which are used by export units for producing their goods.
In some cases, export duties are reduced or exempted on exported goods. Credit is granted at a cheaper rate to the exporter through Reserve Bank of India, State Bank of India, Industrial Development Bank of India and Export-Import Bank. Except for these facilities, diﬀerent organizations are established. Important among them are the Export Advisory Council, Export Promotion Council, Foreign Trade Board, Directorate of Export Promotion, etc. to boost export.
It means diﬀerent steps like the creation of the market for our goods, increasing competitiveness among export units and inspiring the exporters to export more are taken to boost exports.
FOWCHAM Federation started when our country was going through rapid globalization, which assisted towards the growth of our organization, as well as overall international trade. India once suﬀered under a system of self- dependency in the past but much has changed since then. The ratio of our country’s trade has shot up after the Economic reforms of 1991 but especially in the ﬁrst decade of the current century. The most astonishing fact according to the latest economic survey is that since 2011, India has traded more with the rest of the world than China does and our nation continues to maintain its lead on this front.
Our Federation, along with events and exhibitions organizing companies focuses on export and import of goods and services because trade enriches countries and extends the scope for eﬃcient division of labor and thus raises productivity. Our country has a robust trading culture and we feel it’s our duty to make people understand its necessity and contribute towards the growth of this sector.
Our current Prime Minister has announced that he wants India to become the most open economy in the world and in addition to this, started the “Make in India” government program.
Subsidized trade policies have helped hundreds of millions of Indians emerge from the shackles of poverty by providing employment to all sections of society and increasing the value of Indian arts and handicrafts in the international market. We all have seen the beneﬁts of trade over the past 25 years and we are working towards making an international benchmark in this ﬁeld by bringing hundreds and thousands of deserving national businesses into the international market. This is not just our profession but it gives us immense satisfaction that we are able to utilize all our experience and knowledge in uplifting our nation and leaving a positive impression in the global market.
We are working towards becoming a one-stop global destination for all your export-import related services.
It means that along with our primary focus on export, import, exhibitions, and events we also provide international branding service of your product or business and help you earn both business and fame in the international market. Our eﬃcient networks in various countries can help boost your business in any country within very little time.