International Trade (Part – III)

The full form of EPCG is 'Export Promotion Capital Goods'. EPCG scheme helps in facilitating the import of capital goods for manufacturing quality goods and to augment the competitiveness of India's export. This scheme enables the import of capital goods that are used in the pre-production, production, and post-production without the payment of customs duty. However, the scheme is subject to an export value equivalent to 6 times of duty saved on the importation of such capital goods within 6 years from the date of issuance of the authorization.

In the Union Budget 2020-21, the Finance Minister Nirmala Sitharaman announced 'NIRVIK' (Niryat Rin Vikas Yojna; निर्यात ऋण विकास योजना) Scheme to provide enhanced insurance cover and reduce premium for small exporters. This scheme is aimed to achieve higher export credit disbursement with simplified procedures for claim settlements.

India Brand Equity Fund/Foundation (IBEF) is a Trust established by the Department of Commerce, Ministry of Commerce and Industry in 1996. It is an export promotion agency for the distribution and sale of Indian products internationally. IBEF's primary objective is to promote and create international awareness of the Made in India label in markets overseas and to facilitate dissemination of knowledge of Indian products and services.

Morgan Stanley had rated India as one of the most emerging markets in 1998 and had placed it at 3rd position. In this assessment of Morgan Stanley, Brazil and Mexico were ranked First and Second, respectively. As per a February, 2023 Report, among emerging markets, Morgan Stanley is 'most bullish' on India as favourable Union Budget has further boosted the India outlook.

In terms of India's potential and size, tourism industry in India is quite small compared to many other countries because in India the infrastructure required for attracting tourists is inadequate.

As per the question period as well as for 2022, option (a) is the correct answer. According to India Tourism Statistics 2023, France was the most visited place by tourists globally in the year 2022, followed by Spain and USA.

According to United Nations World Tourism Organization's Report 2010, France was the most visited country in the world. France is still the most visited country in 2022.

As per the question period, option (b) was the correct answer. According to the 'India Tourism Statistics 2023', top 5 destination countries for Indian Nationals Departures (IND) during 2022 were as follows:

According to the 'India Tourism Statistics 2023', Foreign Tourists Arrivals (FTAs) in India and percentage change over previous year is as follows:

As per the question period as well as at present among the given States, option (c) is the correct answer. According to the 'India Tourism Statistics 2023', the share of top 5 States/ UTs of India in number of Foreign Tourist Visits in 2022 is as follows: