12 years of NDA: A mixed record in foreign trade

Last week, Narendra Modi became the longest continuously serving elected Prime Minister of India. As expected, the occasion brought tributes to his leadership and policies, and reminders of unfinished work. For exporters and importers, his government's record is mixed: Neither as impressive as admirers claim, nor as disappointing as critics suggest.

- TNC RAJAGOPALAN

In 2015, better targeted schemes such as the Focus Product Scheme and Focus Market Scheme were replaced with the Merchandise Exports from India Scheme (MEIS). A WTO panel ruled that MEIS was inconsistent with WTO disciplines. Although the government appealed to the dysfunctional WTO Appellate Body, it eventually withdrew MEIS and introduced the Remission of Duties and Taxes on Exported Products scheme. Similarly, the Served from India Scheme gave way to the Services Exports from India Scheme, which was discontinued after 2019.