From the Desk of Director General
![](images/Alok-Vardhan-Chaturvedi-Large.jpg)
Dear Members,
As per Global Trade Outlook released by the World Trade Organisation in April 2024, World merchandise trade volume is projected to grow 2.6% in 2024 and 3.3% in 2025, following a larger-than-expected decline of -1.2% in 2023. The US Dollar value of world merchandise trade fell 5% in 2023 to US$ 24.01 trillion but this decline was mostly offset by a strong increase in commercial services trade, which rose 9% to US$ 7.54 trillion. The decline in merchandise exports was partly due to falling prices for commodities, such as oil and gas. Meanwhile, commercial services trade was lifted by recovering international travel and surging digitally delivered services.
Reflecting global trade, Indian merchandise exports contracted in FY24 by 3.1% to US$ 436.06 billion, while services exports expected to increase by 4.4% to US$ 339.62 billion, thus overall exports remaining at about the same level of US$ 776.68 billion. As regards SEZs, merchandise exports increased by 2% to US$ 63 billion, while services exports increased by ?% to US$ ? billion.
There are downside risks due to increasing trade fragmentation on account of increasing “friend-shoring” and “near-shoring” policies adopted by countries in the West to de-risk trade-flows. India needs to calibrate its trade policy accordingly.
There has been good news as on constant follow-up by EPCES, Government covered SEZs and EOUs under the RoDTEP scheme which was a long standing demand of SEZs and EOUs. IT integration of SEZs with ICEGATE is going on to implement RoDTEP in SEZs. EOUs are already on ICEGATE.
In addition, Government has also exempted imports by SEZs and EOUs from the mandatory Quality Control Orders issued by Ministry of Textile, Ministry of Steel and DPIIT. Government has also issued clarifications for implementation of SEZ Rule 11B for having DTA units in IT/ITES SEZs. EPCES had organised a webinar on “Clarifications regarding Demarcation of Non-Processing Area in IT/ITES SEZs under newly inserted SEZ Rule 11B” on 20.12.2023 at Vanijya Bhawan.
Let’s welcome and congratulate Shri Srikanth Badiga as the new Chairman, EPCES on the completion of two-year term by Shri Bhuvnesh Seth, past Chairman. We have requested for certain amendments in AoA and the elections for the CGCs and RGCs and the new Vice Chairmen of EPCES and RGCs will be held as soon as we receive Government approval.
With best wishes for a prosperous New Financial Year,
Alok Charturvedi