Business-Standard

Under the ambit of the new five-year foreign trade policy unveiled on Wednesday by the central government, 108 MSME clusters have been identified to help India meet its export target of $900 billion by 2019-20.

The central government in this endeavour has revised and restructured the Niryat Bandhu Scheme (NBS) aimed at mentoring and promoting entrepreneurship for international business, said an official statement.

“The NBS has been galvanised and repositioned to achieve the objectives of Skill India,” it said.

With the objective of promoting the MSMEs in international trade, the central government will organise activities for the MSME (micro, small and medium enterprise) in a “structured way” at the identified clusters under partnership models involving the private players and industry players and bodies.

It has also initiated a scheme of self-certification for export status-holder manufacturers to self certify their manufactured goods in phases, as originating from India with a view to qualifying for preferential treatment under various forms of bilateral and regional trade agreements.

“This Approved Exporter System will help these manufacturer exporters considerably in getting fast access to international markets,” the statement said.

Union Commerce and Industry Minister Nirmala Sitharaman said the new trade policy aimed at boosting exports will result in increasing the nation’s exports to $900 billion by 2019-20 from $465.9 billion for the period 2013-14.

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