Promotion of Services Sector Exports

Government of India has taken a number of measures to boost export of services. The Foreign Trade Policy (FTP) 2009-14 of Government of India aims at accelerating the growth of export of services so as to create a powerful and unique ‘Served from India’ (SFIS) brand. As per para 3.12 of the Foreign Trade Policy (2009-14), which is available on the website of Directorate General of Foreign Trade (DGFT) at www.dgft.gov.in, incentive is available to providers of specified services in the form of duty credit scrip equivalent to 10% of free foreign exchange earned. With effect from 18.04.2013, the entitlement is on the basis of the net foreign exchange earned.

In addition, financial assistance is provided by Department of Commerce to Services Export Promotion Council (SEPC), Telecom Exports Promotion Council (TEPC) and Electronics & Computer Software Export Promotion Council (ESC EPC) under Market Access Initiative (MAI) and Market Development Assistance (MDA) schemes for promotion of exports. In order to move further in this direction, Services Conclave was organized by Department of Commerce in November, 2013 to discuss issues and bottlenecks hindering export of services from India. Government has decided to make this event an annual feature.

Year wise figures of incentives in the form of duty credit scrip granted during last 3 years, and exports of services are as under:

The information was given by the Minister of State (Independent Charge) of the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today.