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Trading with the world: Export promotion schemes provided by Government of India
Aug 14, 2019

After the Make in India initiative by the Modi government, Indian exports have increased manifold. There are numerous export schemes, financial aids and other benefits provided by the Government of India to exporters which have led to this increase in exports. 
The following are the various export schemes provided by the Government of India so that the Indian economy grows with a corresponding increase in foreign exchange reserves: 
Advance authorization scheme: This scheme allows businesses to import inputs within the country without paying any duty. However, such inputs should be utilized further for the production of an export item.
Advance authorization for annual requirement: This scheme is for those exporters who have had excellent export performance for the last two years. Such exporters can benefit from the Advance Authorization for Annual requirement scheme.