GOVERNMENT OF INDIA
English language

Home | MyGov

Accessibility
Accessibility Tools
Color Adjustment
Text Size
Navigation Adjustment
Screen Reader iconScreen Reader
Menus
Sticky Menu

Inviting Comments on the Draft Bill - The Indian Institute of Foreign Trade Bill, 2022

Inviting Comments on the Draft Bill - The Indian Institute of Foreign Trade Bill, 2022
Start Date :
Feb 03, 2023
Last Date :
Feb 12, 2023
23:45 PM IST (GMT +5.30 Hrs)
Submission Closed

The Indian Institute of Foreign Trade (IIFT) was established in 1963 as an autonomous body under the Ministry of Commerce & Industry to contribute to the skill building for the ...

The Indian Institute of Foreign Trade (IIFT) was established in 1963 as an autonomous body under the Ministry of Commerce & Industry to contribute to the skill building for the external trade sector of India. It has come a long way to successfully develop into a remarkable institution that imparts knowledge through research and training in international business, trade and Economics.

Draft Bill, including a statement of objects & reasons, for converting IIFT into an INI through an act of Parliament.MyGov and the Department of Commerce solicit comments/suggestions/views from the general public on the draft Bill for conferment of INI status to the Indian Institute of Foreign Trade (IIFT).

Last date of submission is 12th February 2023.

Reset
Showing 281 Submission(s)
DR SWAPNIL MANTRI
DR SWAPNIL MANTRI 3 years 3 months ago
The new FTP must provide policy guidance and a direction for future trade agreements. The benefits of FTAs must be strongly communicated to the industry, so that it can prepare itself for future trade deals. Moreover, the FTP should highlight the importance of data collection for utilisation rates of FTAs—both on imports and exports.
Dislike (0)
Reply
Report Spam
DR SWAPNIL MANTRI
DR SWAPNIL MANTRI 3 years 3 months ago
The government must work on building its digital capabilities and infrastructure in key export sectors through a ‘Digitally Informed Foreign Trade Policy’, with a focus on enhancing India’s trade competitiveness by developing digital infrastructure for trade; building digital skills in tradeable sectors; increasing the share of technology content in exports; and leveraging advanced technologies (Big Data Analytics, IoT, and Blockchain) for evidence-based and informed trade policy decisions.
Dislike (0)
Reply
Report Spam
DR SWAPNIL MANTRI
DR SWAPNIL MANTRI 3 years 3 months ago
Export awareness is an issue of high importance, so trade policy can make a provision for government workshops and awareness programmes that educate and inform traders about international laws and standards, global markets, intellectual property rights, patents and geographical indication (GI).
Dislike (0)
Reply
Report Spam
DR SWAPNIL MANTRI
DR SWAPNIL MANTRI 3 years 3 months ago
A new trade policy should cover upgrading the technology and upskilling the exporters which will eventually help Indian exporters to be competitive on their advantage rather than relying on government subsidies which can be achieved through tech upgradation and training. One area where India needs to focus more is free trade agreements, now under the new foreign trade policy. Various industries are demanding new strategies for their regional and bilateral trade agreements. Under the new trade policy, India can further explore avenues for tapping trade opportunities with leading economies using the services FTA.
Dislike (0)
Reply
Report Spam
DR SWAPNIL MANTRI
DR SWAPNIL MANTRI 3 years 3 months ago
Cutting down logistics costs are mandatory to make products competitive. Two government policies, one district one product and e-commerce policy should not work in silos but should complement each other.
Dislike (0)
Reply
Report Spam
DR SWAPNIL MANTRI
DR SWAPNIL MANTRI 3 years 3 months ago
In other countries, there is a mechanism for integrated tax neutralisation -- a single window. But in India, for example, there is a duty drawback scheme that provides the refund/ recoupment of custom and excise duties paid on inputs or raw materials etc, then there is GST, to get a refund for both you have to do documentation separately. On top of it, to get refunds of state-level taxes, you will have to do the documentation all over again, which is a huge burden. So just like other countries, we need to have a single window for this.
Dislike (0)
Reply
Report Spam
DR SWAPNIL MANTRI
DR SWAPNIL MANTRI 3 years 3 months ago
Another important industry demand is to have WTO compliant schemes. According to WTO, countries should not have many subsidising schemes for the exporters. The government has already taken some steps in this direction but some more steps are required in this direction.
Dislike (0)
Reply
Report Spam
DR SWAPNIL MANTRI
DR SWAPNIL MANTRI 3 years 3 months ago
One of the major challenges that need immediate attention is to boost domestic manufacturing. We are dependent on imports for a range of products, so the new trade policy should boost domestic manufacturing and should also suggest ways to make it competitive
Dislike (0)
Reply
Report Spam
Anurag Shukla
Anurag Shukla 3 years 3 months ago
It is good steps & its campus should be opened in all NIT & govt autonomous colleges.so that students of business community could utilise this knowledge for export. With Regards Anurag Shukla
Dislike (0)
Reply
Report Spam
BALBIR SINGH CHARAN
BALBIR SINGH CHARAN 3 years 3 months ago
Following points should be included in this bill 1 export and import facilities should be improvised by implementing ease of doing policy 2 GST slab should be easier and for all the taxpayers it must be same 3 SEZ should be established in every district of India 4 soft diplomatic relations should be maintained with other countries 5 levy on export and import must be reasonable thanks
Dislike (1)
Reply
Report Spam
Sticky Menu