Liberalizing Forex Regulation for improving Exports

As per recently unveiled foreign trade policy released by for 2015-20,India has
fixed an ambitious target of doubling merchandise and services exports to $900
billion from current $450 bn.It would,in turn,require exports to increase at a
compound annual growth rate of about 15% over the next five years.Now if dig into
the real scenario of export condition,we would rather see a bleak picture.
The top 20 categories accounted for 78.5% of total merchandise exports in the fiscal
year to March 2014. Exports of services are even more skewed, with information
technology
and
information technology
enabled
services
accounting for almost
50% of the total.Only
three
countries,US,UK
and Canada accounts for
more than two-third of
that export.
Because of Poor transport and logistics infrastructure, and an inefficient trade
facilitation regime added by sucessive decrease in ranking of ease of doing
business,has affected Indias merchandise export competitveness.