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India Boosts Exports, Entrepreneurship with New Initiatives

India's new initiatives aim to boost exports and entrepreneurship. Streamlined processes and supportive policies are set to strengthen the country's economic growth.

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India Boosts Exports, Entrepreneurship with New Initiatives

The Indian government and market regulators have introduced several initiatives to boost exports, promote entrepreneurship, and simplify foreign investment processes. These moves aim to strengthen the country's economic growth and support businesses, particularly small and medium enterprises (SMEs).

The Securities and Exchange Board of India (Sebi) has launched the India Market Access Portal, streamlining the registration and compliance process for foreign portfolio investors. Additionally, Sebi has introduced the Swagat-FI framework, offering single-window access and a ten-year registration cycle to attract overseas capital.

In a bid to support SMEs in e-commerce, the government is proposing an inventory-based model for exports. This model aims to simplify compliance, logistics, and customs procedures. Furthermore, a third-party export facilitation model is being set up to manage these aspects for SMEs in e-commerce trade.

To foster entrepreneurship and promote sustainable non-farm opportunities in rural areas, the government is launching the Yogya Bharat Mission. This mission will focus on developing entrepreneurship skills and promoting sustainable livelihoods.

The government also plans to introduce a national employability and entrepreneurship measure. This initiative will track data and make policy interventions to enhance employability and entrepreneurship skills across the country.

To encourage strategic investments and technological advancements, the government plans to promote entrepreneurship in sectors like IT, manufacturing, renewable energy, and clean energy. This will be supported by favorable policy frameworks and international trade partnerships.

These initiatives, coupled with the liberalisation of anchor investor rules and the increase in the overall quota to 40%, are expected to boost foreign investments and support the growth of Indian businesses. The recent 6.7% rise in Indian exports to $35.1 billion in August, and a 6.1% increase in the first five months of the current fiscal year, reflect the positive impact of these measures on the country's economic landscape.

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