Yojana 2020: Export Strategy

Export Strategy
  • Import substitution unlike its general perception is not undesirable.
  • It is not inward looking in the sense of closing door to imports.
  • It is focussed on developing domestic capability and prowess to reduce dependence on imports.
  • Disruption of supply chains can deprive of critical inputs⟋products.

Aatmanirbhar Bharat Abhiyan

  • Agriculture food stuffs including cereals, edible oils, oilseeds, pulses, onions and potatoes to be deregulated.
  • Stock limit to be imposed under very exceptional circumstances:
    • National calamities,
    • Famine with surge in prices.
    • No such stock limits shall apply to processors or value chain participant.
      • Subject to their installed capacity.
      • To any exporter subject to the export demand.
  • Government will amend Essential Commodities Act.

Making India a Global Leader in Textile Industry

  • Mission to be implemented during FY 2020 - 21 TO 2023 - 24 with an outlay of ₹ 1480 crore.
  • Mission has 4 components:
    • R&D
    • Market Development
    • Export Promotion
    • Education & Skill Development
  • Focus on usage of technical textiles in various flagship schemes of the government.
  • Will bring an overall improvement in cost economy & promote Make in India.

MSME Definition Revised

  • MICRO
    • Investment in P&M⟋Equipment.
    • Not more than ₹ 1 crore & Annual Turnover not more than ₹ 5 crore.
  • SMALL
    • Investment in P&M⟋Equipment.
    • Not more than ₹ 10 crore & Annual Turnover not more than ₹ 50 crore.
  • MEDIUM
    • Investment in P&M⟋Equipment.
    • Not more than ₹ 50 crore & Annual Turnover not more than ₹ 250 crore.

Ricardo՚s Theory of Comparative Advantage

  • International trade is the result of differences in the relative opportunity.
  • Costs of countries in the production of different goods.
  • Even if a country is self-sufficient it should still trade.

Examrace Team at Aug 25, 2021