India is one of the fastest growing economies today. The government has created a number of economic policies that have helped our nation's economy grow. An endeavour to improve the state of exports to other nations has been launched under the amended laws. As a result, the government has made a few decisions that will help export-oriented enterprises. The primary goal of these advantages is to streamline and increase the flexibility of the exporting process. These changes have combined liberalisation with socio-democratic programmes on a larger scale.

Since the beginning of the liberalization plan in the 1990s, the economic reforms have focussed on open market economic policies. Foreign investments have been received in various sectors, and there has been better growth in the standard of living, per capita income, and GDP. Also, there has been a greater focus on flexible business and doing away with excessive delay and government regulations. Some different types of export incentive schemes that the government has initiated are:

• Advance Authorization Scheme: Under this scheme, businesses are allowed to import in the country without having to pay duties, if this import is for the production of an export item. Also, the licensing authority has fixed the value of the other export products below 15%. The scheme has a validity duration of a year for imports and a year and a half for carrying out the Export Obligation from the date of issue
• Export Duty Drawback for Customs, Central Excise, and Service Tax: Under a few schemes, the duty or tax paid for inputs for the exported products are repaid to the exporters. This repayment is carried out through a Duty Drawback. In like cases, the duty drawback scheme goes unmentioned in the export schedule, exporters can approach the tax authorities for getting a brand rate under the duty drawback scheme.
• Post Export EPCG Duty Credit Scrip Scheme: Under this scheme, exporters who are unsure about payment of the export obligation can obtain an EPCG license and pay the duties directly to the customs officials. Once they fulfill the EO, they can claim a refund of the taxes paid.
• Towns of Export Excellence: Towns that produce and export goods above a specific value in the identified sectors are known as towns of export status. Towns will receive this status based on their performance and future potential in exports to enable them to reach new markets.
• Market Access Initiative (MAI) Scheme: MAI is an effort to provide financial guidance to eligible agencies for undertaking direct and indirect marketing activities like market research, capacity building, branding, and compliance in importing markets.
• Marketing Development Assistance (MDA) Scheme: This scheme aims to promote export activities abroad, assist export promotion councils to develop their products, and other initiatives to carry out marketing activities abroad.
• Merchandise Exports from India Scheme (MEIS): This scheme applies to the export of certain goods to some specific markets. Rewards for exports under MEIS will be payable as a percentage of their realized free-on-board value. Due to all these schemes, exports have increased by a certain margin, and there is a favorable atmosphere among the business community. The government is, therefore, also coming with many other benefits to strengthen the export sector of the country further.