Merchandise exports touched US$ 276.5 billion and rebounded with a growth of 5.44% in 2016-17 after two years of non-positive growth.
Services exports contributed US$ 160.68 billion and imports remained at US$ 95.47 billion, leaving a surplus of US$ 65.21 billion in 2016-17.
Source: DGCIS (for Merchandise) and RBI (for Services)
Total exports reached US$ 437.23 billion in 2016-17
USA was India’s top export market in 2016-17 with exports reaching US$ 42.33 billion, a growth of 4.94%. It was followed by UAE (US$ 31.26 billion) and Hong Kong (US$ 14.16 billion).
The Policy introduced two new schemes to replace multiple schemes.
(a) ‘Merchandise Exports from India Scheme’ (MEIS) for export of specified goods to specified markets.
(b) ‘Services Exports from India Scheme’ (SEIS) for increasing exports of notified services.
Redevelopment to include a comprehensive Traffic Intervention providing an underground tunnel through Pragati Maidan to decongest traffic around IECC.
Increase in exports from SEZs in the last 3 years.
Exports valued at ₹5.23 lakh crore in 2016-17.
Additional employment in last 3 years.
Employment reached 17.31 lakh in March 2017.
₹1.27 lakh crore
Additional investment in the last 3 years.
New SEZs approved.
New business units started.
The third edition of Global Exhibition on Services (GES) was inaugurated by Shri Pranab Mukherjee, President of India at Rashtrapati Bhawan Auditorium on April 17, 2017 at India Expo Centre & Mart, Greater Noida.
CIM Smt. Nirmala Sitharaman’s speech at 3rd GES
The Department of Commerce in association with Services Export Promotion Council (SEPC), India Trade Promotion Organization (ITPO) and Confederation of Indian Industry (CII) organised the second edition of the Global Exhibition on Services during April 21-23, 2016 at India Expo Centre and Mart, Greater Noida.
The 1st Indian Global Exhibition on Services (GES) was held during April 23-25, 2015 at Pragati Maidan, New Delhi. The Prime Minister of India inaugurated the exhibition. The main objective of this Exhibition was to enhance trade in services between India and the rest of the world.
E-BRC (Bank Realisation Certificate), electronic evidence of foreign exchange extended to 14 State Governments and 3 Central Government Organisations including GSTN.
About 4,000 tweets handled by DGFT in 2016-17 with average reply time of 4 hours (active Twitter handle @dgftindia).
Business made easier – SEZs made paperless through SEZ Online, connected to Customs ICEGATE System. A mobile app launched to share real time info.