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New Foreign Trade Policy 2015-2020: a Boost to Make in India”

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New Foreign Trade Policy 2015-2020: a Boost to Make in India” Hindi Vidya Parachar Samiti’s R J COLLEGE OF ARTS & SCIENCE AND COMMERCE GHATKOPAR (W), MUMBAI- 40086. NACC Re-Accredidated "A" Grade College Department of Commerce Organises ONE DAY NATIONAL CONFERENCE ON “NEW FOREIGN TRADE POLICY 2015-2020: A BOOST TO MAKE IN INDIA” PROCEDDINGSS OF THE SEMINAR Published By: Department of Commerce, Ramniranjan Jhunjhunwala College SATURDAY, 8TH AUGUST, 2015 ISBN : 978-81-925489-7-5 Hindi Vidya Parachar Samiti’s R J COLLEGE OF ARTS & SCIENCE AND COMMERCE NACC Re-Accredidated "A" Grade College Ghatkopar (W), Mumbai- 40086 DEPARTMENT OF COMMERCE ORGANISES ONE DAY NATIONAL CONFERENCE ON “NEW FOREIGN TRADE POLICY 2015-2020: A BOOST TO MAKE IN INDIA” 0n SATURDAY, 8TH AUGUST, 2015. PROCEDDINGSS OF THE SEMINAR EDITORS Dr. Vilasini Patkar Mr. Subodh S. Barve Associate Professor Assistant Professor R. J. College, Ghatkopar R. J. College, Ghatkopar Mumabi- 400086 Mumabi- 400086 PUBLISHED BY DEPARTMENT OF COMMERCE, RAMNIRANJAN JHUNJHUNWALA COLLGE ISBN: 978-81-925489-7-5 DISCLAIMER: We do not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these articles. We accept no liability for any loss, damage or inconvenience result from reliance on such content. Only the author is the authority for the subject content and may be contacted. All rights are reserved. No parts of this publication may be reproduced in any way form or by way any means, without the written permission of the publishers. Authors of the articles are responsible for the contents and the references in their article and the publisher shall not be responsible in any way. Publish for: R. J. College, Ghatkopar, Mumbai - 400086 Published by: Department of Commerce Ramniranjan JhunJhunwala College, Ghatkopar - West, Mumbai - 400086 Publishing Team: Dr. Vilasini G. Patkar - Convenor. Mr. Subodh S. Barve - Co-convenor. Mrs. Laxmi Podoli - Secretary. Edition : 08thAugust, 2015 ISBN : 978-81-925489-7-5 WORDS FROM MANAGEMENT It is a moment of great pride that our Commerce Department is hosting a National Conference on, “New Foreign Trade Policy 2015-20: A Boost to Make in India” on 8th August 2015. The theme of the conference is of great relevance from academic, industry and economic point of view. It offers an opportunity for the educationist, corporate, professionals & government to share a common platform and deliberate on the policy matters which would shape India’s future. The 5 year foreign trade policy seems to be a road map for boosting our global trade. On behalf of the HVPS, I wish the organizers- the faculty of Commerce Department a great success. Dr. Rajendra Singh Hon. Secretary, Hindi Vidya Prachar Samiti WORD FROM THE PRINCIPAL India represents a robust emerging economy based on the set of guidelines under the aegis of RBI. The Foreign Trade Policy would strengthen the existing pillars of economy by taking a forward leap in terms of attracting investors and manufacturers to establish a strong industrial base in our country. Digitalization would ease the formalities required for start ups and will bring transparency with minimum interface. It will ensure single window solution within the given time frame. The 'Make in India' policy would not only generate employment but would fulfil the needs of foreign markets by ensuring quality of products. The Generation Y can look forward to a plethora of opportunities, not only in terms of employment but also in terms of providing employment for others as entrepreneurs. The conference has been well thought off in the current scenario and as the Head of the Institution I wish all the success and a very fruitful academic deliberation in the conference. Dr. Usha Mukundan Principal, R.J.College, Ghatkopar, Mumbai- 86 WORDS FROM EDITOR Editors Words: India is a stable democracy and it is one of the largest markets in the world. It has the potential to be a significant force in the global trade in services and merchandise but for a long time its economy has been operating far below its inherent potential. Apparently, barring a few instances, the political will to be resolute has been missed out by successive governments. The government of Prime Minister Shri Narendra Modi however has right from the inception earnestly initiated steps to weed out the maladies of red- tapism, corruption and lack of accountability, to which the government machinery as well as the industry was accustomed, and in a way tolerant to. The government under him has initiated steps to achieve synergic and cohesive interaction between the private and public sector and also ith the foreign powers and the global industry; to make Indian industry a global force by making it efficient, technologically able, and accountable; and is determined not to let the industry walk with the crutches of subsidies, concessions and irrelevant incentives. The government has recited “Make in India” mantra. In order to achieve this, streamlining of the taxation system and the foreign trade policy was first step towards the paradigm changes and welfare measures envisaged. In the light of this scenario, the New Foreign Trade Policy 2015-20 was declared on 1st April 2015. With a view to understand the purport, salient features and the practical impact of this policy, it’s a vigorous interaction between government and industry representatives, professionals, taxation experts, academicians, and economists is considered necessary. Hence, this National Conference was conceptualized. Resource erudite inputs from the Jt. Director of DGFT, Region Head of FIEO; Representatives of - GSW Steel, the Pharma Industry, Global Trade Facilitation and the learned paper presenters would definitely be of great value for the delegates and students. The day long deliberations and interaction would be academically as well as practically rewarding. The published papers / articles would serve as advantageous inputs for academic studies and government policy decisions. Our students would definitely be the beneficiaries of this conference. Wishing all the participants and delegates a great learning experience and success in all their endeavours! Dr. Vilasini G. Patkar Mr. Subodh Barve Conference Convener Conference Co-convenor ACKNOWLEDGEMENTS We take this opportunity to thank the Management members of HVPS for being highly supportive and for providing us with excellent infrastructure facilities enabling us to organize such a prestigious event. We thank our Honorable Secretary Dr. Rajendra Singh for his continuous involvement, Co- operation and encouragement. We profusely thank our Principal Dr. Usha Mukundan whose constant inspiration and enthusiasm motivates us to organize activities of such dimension. We are thankful to all the Resource Persons and Experts for their willingness to spend their valuable time and knowledge; and for sharing their thoughts and experiences which helped in making the conference a success. We also thank the chairpersons of the Technical Sessions, the authors of Research papers, Paper presenters and Delegates for participating and deliberating actively on the theme of the conference and making it meaningful. We wish to thank and put on record, the assistance rendered by the teaching and supporting staff of our college and the student volunteers who extended their whole hearted cooperation, to make this conference a grand success. We finally thank the Printer for publishing the proceedings of the conference & our Photographer for making the conference memorable. Dr. Vilasini Patkar Convener INDEX SR. PAPER TITILE PAGE NO NO. FTP 2015-20: SPECIAL FOCUS ON SMES ESSENTIAL TO BOOST EXPORTS - 1 1 Dr. Vilasini G. Patkar THE NEW FOREIGN TRADE POLICY2015-2020 A BOOST TO MAKE IN 2 INDIA WITH REFERENCE TO GEMS AND JEWELLARY- 9 Dr. Shripad Joshi Dr.Kailash Anekar MERCHANDISE EXPORTS FROM INDIA SCHEME (MEIS) UNDER FOREIGN TRADE POLICY ( 2015 – 2020 ) : A BOOSTER FOR MAKE IN 3 19 INDIA VISION. - Dr. Deepali Moghe FLORICULTURE A SUNRISE EXPORT IN INDIA: FUTURE POTENTIAL AND GOVERNMENT INITIATIVES - 4 27 Prof. Laxmi Podoli A STUDY OF SEZ POLICY WITH RESPECT TO INCENTIVES PROVIDED TO SEZ UNITS. - 5 33 Dr. Anupama Narayan Nerurkar THE MEGA REGIONAL AGREEMENTS: IMPACT ON INDIA 6 40 Dr. Bageshree P. Bangera-Bandekar MERCHANDISE EXPORT FROM INDIA SCHEME: BOON TO 7 45 EXPORTERS. - Prof. Poonam Srivastava THE FOREIGN TRADE POLICY 2015-20: AN OVERVIEW 8 50 Dr. Jayesh K. Pandya RELEVANCE OF 3 D PRINTING TECHNOLOGY TO MANUFACTURING 9 58 PROCESS. - Mr. Rajesh Kumar COMPARATIVE ANALYSIS OF FTP 2009-2014 WITH FTP 2015-2020. - 10 62 Ms. Devanjali Dutta FOREIGN TRADE POLICY (FTP) 2015-20 AND "SERVICES EXPORTS 11 68 FROM INDIA SCHEME (SEIS). - Dr. Lali Rajan MAKE IN INDIA CAMPAIGN – A CRITICAL ANALYSIS WITH 12 73 REFERENCE TO HUAWEI’S ENTRY IN INDIA - Dr. Pramila S. Patil AN OVERVIEW OF FOREIGN TRADE POLICY WITH SPECIAL 13 80 REFERENCE TO FTP 2004-2020 - Mrs.Usha V Bhandare A STUDY ON SERVICE EXPORT PERFORMACNCE OF INDIA - 14 85 Mr. Vinod H. Kamble TRANSFORMATIONAL FOOTSTEPS IN FOREIGN TRADE POLICY OF 15 97 INDIA - Mrs. Vaishali.P. Garkal A STUDY ON MERCHANDISE EXPORTS FROM INDIA SCHEME - 16 105 MAKE IN INDIA INITIATIVE. Mrs. Kankana Banerjee E-EXPORTS. - 17 110 Mr. Ashutosh Saxena Mr. Nital Kothari TO STUDY THE INCENTIVES AVAILABLE TO EXPORTERS IN 18 MANUFACTURING SECTOR - 114 Mr. Himanshu Lapashia 19 THE FOREIGN TRADE POLICY 2015-20: AN OVERVIEW OF SERVICE 120 EXPORT FROM INDIA SCHEME - Mr. Subodh S Barve 20 NEW FOREIGN TRADE POLICY 2015-2020: DOING RIGHT, DOING 126 GOOD Ms. Shubhangi Vartak "NEW FOREIGN TRADE POLICY 2015-2020: A BOOST TO MAKE IN INDIA" ISBN: 978-81-925489-7-5 “FTP 2015-20: SPECIAL FOCUS ON SMES ESSENTIAL TO BOOST EXPORTS” Dr. Vilasini G. Patkar Associate Professor & Head, Dept. of Commerce, Ramniranjan Jhunjhunwala College, Ghatkopar (West), Mumbai – 400 086. Contact: (M) 9869684055 / 9221401854 E Mail: [email protected] Abstract The New FTP 2015-20 is futuristic, pragmatic and contemporary in its outlook, and aims at an export target of USD 910 billion by 2020 in merchandise and services exports.
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