Renewed global interest in India, “the rising star among Asian economies”, has catapulted the Economic Division (ED) of The Ministry of External Affairs into the limelight. Including, but not limited to facilitating export, import, foreign investment, lending, aid, free trade agreements and business policies, the primary role of Economic Division’s ‘IndBiz’ website is to promote India’s economic and commercial interests by acting as a window to the country’s integrated international network. National and state governments, national and international businesses, multinational corporations, international trade organisations, research institutions, environmental groups, and other non-governmental organisations form part of this network.
Business friendly policies and reforms, and inherent strengths in the Indian economy have made India one of the world’s most sought after investment destinations as well as trade partners. India’s integral role in world trade bodies such as BIMSTEC, WTO, ASEAN, APTA, SAARC, BRICS, World Economic Forum and others has resulted in the country being recognised as an emerging powerhouse of economic growth and development. Indbiz will provide insights and information on India’s economic interactions with the rest of the world.
IndBiz, along with the Indian Missions in every corner of the world, will help international exporters, importers and businesses to connect with buyers and sellers in India. This platform will endeavour to provide information on new export markets, and will provide guides, statistics, expert opinions on Indian and world markets.
For more information, please refer:
All export and import-related activities are governed by the Foreign Trade Policy (FTP), which is aimed at enhancing the country’s exports and uses trade expansion as an effective instrument of economic growth and employment generation.
The Central Board of Indirect Taxes and Customs (CBIC) has also developed an ‘integrated declaration’ process, leading to the creation of a single-window system that will provide importers and exporters with a single point interface for customs clearance for import and export of goods.
The Ministry of Finance is planning to ease the process for importers by uniting and expanding the scope of the Accredited Clients Programme (ACP) and the Authorised Economic Operator (AEO) scheme, which will extend direct port transfers, thereby allowing members to move their cargo as it arrives at a land or seaport, to a warehouse without checks.
India is presently known as one of the most important players in the global economic landscape. Its trade policies, government reforms, and inherent economic strengths have contributed to its standing as one of the most sought after destinations for foreign investments in the world. Also, technological and infrastructural developments being carried out throughout the country augur well for the trade and economic sector in the years to come.
For important Export-Import related information, including Acts, Rules, Policy & Procedures, see Directorate General of Foreign Trade.
For more information, see the Indian Trade Portal.