Government policy thinktank NITI Aayog proposes to undertake a study to analyse the role and significance of export promotion bodies in promoting international trade as it believes that there is a growing perception amongst exporters and other stakeholders on their lack of ‘dynamism.’
“There has been a growing perception across the country regarding the lack of dynamism among Export Promotion Councils (EPCs) to effectively impact international trade of India. Most of the exporters are of the view that the EPCs are lacking in international marketing strategies and measures to promote India’s brand image across the globe. This has hurt India’s export performance over the years,” per the letter of invitations to research institutes for proposals to carry out the study on export promotion bodies.
The study is to analyse the role and relevance of export promotion bodies, especially the EPCs and the exporters’ umbrella body Federation of Indian Export Organisations (FIEO) , the letter stated.
The Commerce Department has set an ambitious export target of $400 billion for 2021-22 against exports worth $292 billion attained in 2020-21.
“A need is felt to reorganise and develop alternative institutional frameworks and strategies that can facilitate Indian exporters and therefore augment exports which can drive economic growth,” it said.
The study would analyse the existing architecture of export promotion in India all levels, Central, State and district. It can examine the role and achievements of the existing export promotion institutional structures that exist at all levels.
Focus should also be on assessing the existing domestic best practices with respect to export promotion, the letter said. These can either be initiatives taken by the government or change sin policies with respect to export promotion with a view to make recommendations on how EPCs and the current institutional framework for export promotion in India can be strengthened, it added.
On the need to assess existing best practices at the global level, the letter stated that the focus should mainly be on institutional export promotion in economies that have a significant presence in international trade.
The study will then identify the gaps in the existing framework and make recommendations for the creation of an efficient and effective architecture for institutional promotion of exports from India, the letter said.