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24005460-change-in-exim-policy

24005460-change-in-exim-policy

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CHANGE IN EXPORT IMPORT POLICY

Presented By: Manandeep Singh Rana Rajwanti Negi

EXIM POLICY
EXIM stands for export and import. import. EXIM POLICY OR FOREIGN TRADE POLICY is a set of guidelines and instructions and various policy decision taken by the government in the sphere of foreign trade i.e. with respect to import and export of the country. country. It is prepared and announced by the central government(Ministry OF Commerce)

Aspect of EXIM Policy: Policy:
Import policy:- which is concerned with regulation and policy: management of imports. imports.  Export policy:- which is concerned with exports not only policy: promotion but also regulation. regulation. 

Legal framework 

Legal framework for foreign trade has provided by Foreign Trade (Development And Regulation) Act 1992 which replaced the Imports and Exports (Control) Act 1947. 1947. Beside this act there are some other laws also which control the trade in certain items like export of coffee is regulated by Indian Coffee Act 1942 and export of tea is regulated by Tea Act 1953 etc. etc. SectionSection-5 of this act gives power to central government to announce the Export Import policy for the country. country.  

General objective of EXIM policy:policy:  Promoting exports and augmenting foreign exchange earnings. earnings.  Regulating export when ever it is necessary for the purpose of either avoid competition among the Indian exporters or ensuring domestic availability of essential items. items.  To restrict country¶s imports and provide a sheltered market for domestic industries for rapid growth. growth. Initially the EXIM Policy was introduced for the period of three years with main objective to boost the export business in India. India. After 1992, it is being made for 5 years. 1992, years. Some change has also been introduced annually in it. it.

EXIM Policy 1985
In the year 1985, the government of India 1985, adopted three year EXIM Policy for first time which was advocated by Alexandra committee in 1978. 1978. Its main objectives were: were:  To stablize the export and import policy. policy.  To remove uncertainity so that industries could frame long term goals. goals.

Relaxation in imports to promote exports. Import substitution method in selected spheres. Relaxing the process of getting inputs. production. . inputs. spheres. market. To help Indian products to compete in foreign market. Improvement in administration. administration. improvements. To provide facility for technological improvements. exports.Following steps were announced:announced: Strengthening the base of export production.

export. 1990 a new export 30. Objectives: Objectives:     To encourage rapid and sustained growth in export. To support research and development institution for building up their scientific and technological capability. To promote efficient import substitution and self reliance. reliance. To facilitate availability of necessary imported inputs. promotion. To simplify and streamline the procedures of import licensing and export promotion. capability.EXIM POLICY 1990 The government announced on April 30. period. inputs. import policy for a 3 year period. .

agencies. Number of capital goods item permitted under OGL was increased was increased from 1261 to 1343. 1343. expanded.Sailent feature of policy are:are:  List of items imported under open general licence(OGL) were expanded. fertilizers. An automatic licensing was introduced under which upto some percent of the value of previous year¶s licence can be imported. seeds etc. imported. agencies. were canalised through public sector etc. Import of certain raw materials such as petroleum.    . products.

 For registered exporters. period. the average annual of net foreign exchange earning for base period should not be less than Rs. the preceeding three licensing period of the base period. Under the scheme of registration of export house. Rs. 10 crore in the preceeding three Rs. the concept of net foreign exchange earning was made a guiding criterion for issue of licences. Under the Duty Exemption Scheme. Scheme of Star Trading House was introduced for exported with average annual of net foreign exchange earning of Rs.    . years. crores. 20 crores. 5 crores and for trading houses. Blanket Advance licensing was introduced for manfacturer exporters having a minimum net foreign exchange earning of Rs. licences. be less than Rs. years. it should not Rs. 75 crore in Rs.

industries. Import policy likely to hit small scale industries. upgrading. .Evaluation of policy:policy:Critics have noted following points:points: Adverse effect on the growth of capital goods industry in india. Technological degrading in the name of technological upgrading. Adverse effect on indigeneous industry. industry. india.

In order to bring stability and continuity. . the Central Government reserves the right in public interest to make any amendments to the trade Policy in exercise of the powers conferred by Section-5 of the Act. 1992. the Export Import Policy was made for the duration of 5 years. However. Objective: liberalise imports  boost exports.the Government of India for the first time introduced the Indian Exim Policy on April I.

Export Import Policy is believed to be an important step towards the economic reforms of India Main steps taken are:are:introduction of the duty-free Export Promotion Capital Goods (EPCG) scheme strengthening of the Advance Licensing System waiving of the condition on export proceeds realisation rationalisation of schemes related to Export Oriented Units and units in the Export Processing Zones. .

Import has been further liberalized and better efforts have been made to promote Indian exports in international trade. 1997-2002. This policy has further simplified the procedures and reduced the interface between exporters and the Director General of Foreign Trade (DGFT) by reducing the number of documents required for export by half . the Government of trade. Hence. and a 1992New Export Import Policy was need for the smooth functioning of the Indian export import trade.EXIM POLICY(1997 -2002) 2002) With time the Exim Policy 1992-1997 became old. India introduced a new Exim Policy for the year 1997-2002. trade. .

intermediates. industry and services.' consumables and capital goods. attainment of internationally accepted standards of quality To give quality consumer products at practical prices. goods. Opportunities and encourage the employment. To improve the technological strength and efficiency of Indian agriculture. thereby. opportunities.  To motivate sustained economic growth by providing access to essential raw materials.Objectives:Objectives: To accelerate the economy from low level of economic activities to high level of economic activities by making it a globally oriented vibrant economy and to derive maximum benefits from expanding global market opportunities.  . improving their competitiveness. components.   . competitiveness. To create new employment. prices.

quantitative restrictions and other regulatory and discretionary controls. All goods. It has substantially eliminated licensing.A very important feature of the policy is liberalization. Imports Liberalization:.Of 542 items from the restricted list Liberalization:150 items have been transferred to Special Import Licence (SIL) list and remaining 392 items have been transferred to Open General Licence (OGL) List. may be freely imported or exported. except those coming under negative list. .Policy were:were:Liberalization:Liberalization:.

the duty on scheme: imported capital goods under EPCG scheme has been reduced from 15% to 10%. for agricultural and allied sectors. made in freely convertible currency. payment of 1 % of the value of unfulfilled exports. Under the zero duty EPCG scheme.Export promotion capital goods (EPCG) scheme:. packaging materials. purpose. . the scheme: period for export obligation has been extended from 12 months to 18 months. Duty entitlement pass book scheme:. parts. 20 crore to rs. the 15% 10% threshold limit has been reduced from rs. as a specified percentage of fob value of exports. can be can be utilized for import of raw materials. 5 crore rs. Advance licence scheme:. sectors.under advance license scheme.under the depb scheme scheme: an exporter may apply for credit. components. etc for export purpose. intermediates. A further extension for six months can be given on months. Such credit currency. rs. exports.

Implications of Exim Policy 1997 ±2002  The Exim Policy 1997-02 proposed with an aim to prepare a 1997framework for globalizations of Indian economy. Self-reliance. products. The Exim Policy 1997-2002 successfully fulfills one of the 1997India¶s long terms objective of Self-reliance. It encourage foreign investment in India. India.  In the EXIM policy 1997-02. It encouraged Indian industries to undertake research and development programmers and upgrade the quality of their products. economy. sector.    . been introduced in order to give boost to India's industrial growth and generate employment opportunities in non-agricultural nonsector. a series of reform measures have 1997-02.

intermediates. Former commerce minister announced the exim policy 2002 .Exim Policy 2002 2007 Mr. Murasoli maran.4. Mr. It is worth mentioning here services.1999.2002 had accorded a status of policy: exporter to the business firm exporting services with effect from1 1999. . Objectives: Objectives:o To encourage economic growth of India by providing supply of essential raw materials. Such business firms are known as service providers. from1. thereby improving their competitive strength o To facilitate sustained growth in exports to attain a share of atleast 1% of global merchandise trade. it deals with both the export and import of merchandise and services. providers. o To improve the technological strength and efficiency of Indian agriculture. consumables and capital goods required for augmenting production and providing services. that the exim policy: 1997 .2007 . industry and services. services. components.

offshore banking units (sezs): shall be permitted in sezs to indian banks. producers.o To provide consumers with good quality products and services at internationally competitive prices while at the same time creating a level playing field for the domestic producers. SLR. sezs. It has also been decided to standbasis. would be permitted to undertake hedging of commodity price risks. Units in SEZ banks. Policy are:are: Special economic zones (sezs):. It is exempted from CRR and SLR. . provided such transactions are undertaken by the units on stand-alone basis. permit external commercial borrowings for a tenure of less than three years in sezs.

Quantitative and packaging removed. These units shall be entitled to the industry. except jute and onion.5 crore as against Rs. under Market Access Initiative (MAI) has been earmarked for promoting cottage industry. To removed. removed. In order to promote diversification of notified. units in handicraft sector shall be entitled to duty free imports of an enlarged list of items as embellishments upto 3% of FOB value of their exports.EmploymentEmployment-Oriented a) Agriculture: Export restrictions like registration and packaging Agriculture: requirement are removed. exports. 5 crore Handicrafts: Rs. Restrictions on export of all removed. agriculture. 15 crore for others. b) Cottage Sector and Handicrafts: An amount of Rs. available. promote export of agro and agro based products. others. 20 agri export zones have been notified. The Rs. . Rs. transport subsidy shall be available. cultivated varieties of seed. benefit of Export House status on achieving lower average export performance of Rs. restrictions have been removed.

Entitlement for Export House status at Rs. blended fabrics to have the lowest rate as applicable to different constituent fabrics. Duty Entitlement Passbook embellishments. Rs. receive priority for assistance for identified critical infrastructure gaps from the scheme on Central Assistance to States. States. Such permitted. Licensing regime for rough diamond is being abolished. This should help the country emerge as a major abolished. (DEPB) rates for all kinds of blended fabrics permitted. d) Textiles: Sample fabrics permitted duty free within the 3% limit Textiles: for trimmings and embellishments. international centre for diamonds . 5 crore. fabrics. crore. e) Gem & Jewellery : Customs duty on import of rough diamonds is being reduced to 0%.c) Small Scale Industry: Common service providers in these areas Industry: shall be entitled for facility of EPCG scheme. Such areas will scheme.

term capital requirement as per conditions notified by RBI. Priority Finance for medium and long priority. year. agreement). Fixation of Inputselfbasis. Exemption from compulsory negotiation of documents through banks. RBI. Projects: Projects: Free import of equipment and other goods used abroad for more than one year. InputOutput norms on priority. . GrowthGrowth-Oriented Strategic Package for Status Holders:-The status holders shall Holders: be eligible for the following new/ special facilities: facilities: Licence/Certificate/Permissions and Customs clearances for both imports and exports on self-declaration basis.TechnologyTechnology-oriented Electronic Hardware: The electronic hardware technology park Hardware: (EHTP) scheme is being modified to enable the sector to face the zero duty regime under ita(information technology agreement). banks.

Implications: This policy focused on all round development of India whather it was technology oriented or growth oriented. . It also focused on small and medium sector enterprises. The cottage industry has also started to contribute to exports. The contribution of agriculture and allied sector was also increased to exports with the help of certain privilleges and incentives. It also helped in developing the industrial sector by importing capital and raw material goods duty free.

Kamal Nath. To act as an effective instrument of economic growth by giving a thrust to employment generation especially in semi-urban or rural areas. 2004. 2009.  .7% in 2003 to 1. Union Commerce Minister announced the foreign trade policy for 5 years on 31 august 2004.EXIM POLICY(2004-2009) POLICY(2004Mr. semiareas. Objectives: Objectives: To double India¶s percentage share of global merchandise trade from 0. Mr.5% in 2009.

development. Creating an atmosphere of trust and transparency. control. Simplifying procedures and bringing down transaction costs. transparency. trading and services  Identifying and nuturing special focus areas to facilitate development.     .Strategies to achieve these objective are:are:Unshackling of control.  Facilitating technological and infrastructural upgradation of all the sectors of Indian Economy.  Facilitating development of India as a global hub for manufacturing. Adopting fundamental principle that duties and levies should not be exported. exported. costs. Economy.

A new scheme called the Vishesh Krishi Upaj Yojana (Special Agricultural Produce Scheme) for promoting the export of fruits. Import of capital introduced. and their value added products has been introduced. Scheme. vegetables. certain special focus initiatives have been identified for the agriculture. Agriculture: Agriculture:. flowers.With a view to doubling percentage Initiatives: share of global trade within 5 years and expanding employment opportunities. sectors. especially in semi urban and rural areas. minor forest produce. . goods shall be permitted duty free under the EPCG Scheme. handlooms.Policy are:are: Special Focus Initiatives:. gems & jewellery and leather sectors. handicraft.

Handlooms and Handicraft:. notified. Duty exports. free import entitlement of specified trimmings and embellishments shall be 5% of FOB value of exports during the previous financial year. entitlement of consumables for metals other than Gold. rejewellery shall be 2% of the FOB value of exports . Duty free import scheme. threshold limit of Rs 250 crore shall be notified.Import of gold of 18 carat and above shall Jewellery: be allowed under the replenishment scheme.specific funds would be Handicraft: earmarked for promoting handloom and handicraft exports. Platinum shall be 2% of FOB value of exports during the previous financial year. Gems & Jewellery:. New towns of export excellence with a year. Duty free re-import entitlement for rejected year.

There Policy. of fob value of incremental export. 10% and 100% 10% 15% 15% respectively. exporters on incremental exports. 20% 25% 20%.   . 25% and 100%. earning. export. would be a process of continuous interaction between the Board of Trade and Government in order to achieve the desired objective of boosting India Export promotion scheme: A new scheme called ³ target plus´ scheme: has been introduced. For incremental growth of over exports. Service export: Scheme called ³served from india´ as a brand export: instantly recognized abroad in which individual service providers earning foreign exchange of Rs. the duty free credit would be 5%. Duty free credit would be entitled to introduced. 10% 10% of total foreign exchange earning. Board of Trade: The Board of Trade shall be revamped and Trade: given a clear and dynamic role in advising government on relevant issues connected with Foreign Trade Policy. 10 lakh would be elligible for Rs.

Capital goods would be allowed at 0% duty for exports of agricultural products. house: Rs. five star export house: Rs. 500 crore. It will be entitled to a number of privileges including fast track clearance procedure. 25 crore. etc.One star export house: Rs. two star export house: Rs. products. New stautus hoder categorization:. four star export house: Rs. services. Duty free import under EPGC (Export promotion Capital goods): goods): The scheme allows import of capital goods for pre production. 100 crore. Export Oriented unit(EOUs):. 5000 crore house: Rs. exemption from furnishing back guarantees etc. production and post production at 5% Customs duty.EOUs shall be exempted from unit(EOUs): service tax in proportion to their exported goods and services. 1500 crore and house: Rs. house: Rs. categorization: house: Rs. three star export house: Rs.   . duty.

Duty Drawback scheme. before removal of goods from the factory premises. Indian claim. Customs Duty paid on the imported goods and Central Excise Duty paid on indigenous raw materials or components. Duty Drawback: The Duty Drawback Scheme is administered Drawback: by the Directorate of Drawback.e. Excise Duty Refund: Excise Duty is a tax imposed by the Refund: Central Government on goods manufactured in India. duty is collected at source. Import of second hand capital goods shall be permitted without any age restriction Bio technology park is setup. i. an exporter is entitled to claim. components. excise duty.    . Ministry of Finance. Export goods are totally exempted from central premises. setup. duty.. Excise India. Under Finance.

ReRe-location of industries: To encourage re-location of reindustries to India. products.Neutralising high fuel costs: Fuel costs to be rebated costs: by it in Standard Input Output Norms (SIONs) for all export products. competitiveness of our export products. This would enhance the cost products. . where the depreciated value of such relocating plants exceeds Rs. 50 crores. plant and machineries would be permitted to be imported without a licence.

2006. Duty Free Import Authorisation is product. Norms(SION). development of the infrastructure facilities.Foreign Trade Warehousing Zones: Proposals for setting up of FTWZs may Zones: be made by public sector undertakings or public limited companies or by joint ventures in technical collaboration with experienced infrastructure developers. sq. catalyst etc. must entail a minimum outlay of Rs. and fuel. Direct Investment would be permitted up to 100% in the development and 100% establishment of the zones and their infrastructural facilities. DFIA in short is issued to allow duty free import of inputs which are used in the manufacture of the export product (making normal allowance for wastage). operation and maintenance of such FTWZ.mts. for the development. Foreign FTWZ. The proposal facilities. . DFIA: DFIA: Effective from 1st May. developers. issued on the basis of inputs and export items given under Standard Input and Output Norms(SION). the developer will be issued a letter of permission Commerce. The proposals shall be considered by the Board of Approval in the Department of Commerce. their use to obtain the export product. Duty Free Import Authorisation or 2006. On approval. energy. which are consumed or utilised in the course of etc.mts.100 crores for the creation and Rs. with a minimum built up area of five lakh sq.

As the deemed export is also a source of foreign exchange. so the Government of India has given the benefit duty free import of inputs . The payment can be done in Indian Rupees or in Foreign Exchange.Deemed Export is a special type of transaction in the Indian Exim policy in which the payment is received before the goods are delivered.

It also focussed on service industry. it helped in encouraging small export house. handlooms etc. But in it there is not anything significant about import development. enterprises so it helped in boosting export and generating employment. Target plus scheme act as an incentive to exporter.      . tax. which are dominated by small and medium etc. exporter. house. development.Implication of policy:policy: It is claimed that first time the nation has presented such a comprehensive policy. By rationalizing star export houses into five star export house. policy. This policy provide benefit to some thrust areas which are agriculture. All goods and services were exempted from service tax. employment. handicrafts. industry.

 All goods and services were exempted from service tax  Uneffective implementation make difficult to achieve the real objective of the policy. policy. house.additional custom duty on import of capital goods for marine and electronic sector. sector. they are given triple weightage to include in export house or trade house.  In an attempt to encourage small scale sector.  No .

commerce minister to announce on 31ST March 1999 the exim policy for 1999-2000. Rs. textile. route. All export promotion zone is converted into Free Trade Zone. Zone.  Under the EPCG Scheme the threshold limit for zero duty capital goods was reduced from Rs.EXIM POLICY 1999-2000 1999Failure to increase exports and facilitate imports as well as to keep the trade balance gap within reasonable limits during 1996199697 and 1998-99 forced Mr. implemented. plastic and textile. former 1998Mr. 1999-2000. 1 crore for Rs. chemicals. . Ramkrishna Hedge.  The concept of free trade zones without customs intervention and with ³greater operational freedom in export activity´ would be implemented. 20 crore to Rs. Main highlights: highlights:  894 items were added to free list of imports and an additional 414 items put on special import licence route.

Alligning EXIM procedures with WTO norms. It deemed to be foreign territory for the purpose of free. trade and tarrifs and goods going to it treated as deemed export. norms. India negotiated with many countries and aggreed to phase out it by 2003. items. products.EXIM POLICY 2000-2001 2000The policy highlighted two important measures: measures: Setting up of special economic zone This unit would be able to import raw material and capital goods duty free. duty. India did not remove quantitative restrictions on its import fully with respect to consumer products and certain agriculture products. export. Policyout of 1429 items. It would be able to obtain products from the domestic tariff area(DTA) without paying terminal excise duty. EXIM Policy-2000 removed it on 714 items 2003. .

allowed. Agri economic zones were formed. formed. Imports of the second hand good. . items. Import of farm products were permitted only through state trading agencies. Import restriction of the remaining 715 items were removed. removed. EPCG Scheme and DES eas extended to agriculture export as well.EXIM POLICY 2001-02 2001It highlighted: highlighted: Removal of quntitative restrictions from all remainig items. agencies. meat and primary agriculture product were allowed. well.

1 and 2 star hotels and Stand Alone Restaurants extended the benefits of duty free imports admissible to Tourism Sector. However. import of Prototypes shall be allowed to Actual Users without any limit (presently restricted to 10 nos. Sector. Import of all kinds of Capital Goods including office and professional equipment allowed under the Duty Free Entitlement scheme. Boost to Tourism Heritage Hotels.EXIM Policy 2003-2004 2003Poicy suggested:suggested: Promotional measures To promote export related infrastructure. Duty Free Entitlement Certificate scheme liberalized . of agriculture/dairy products and cars shall not be permitted. rupee payments received for Port handling services admissible for discharge of export obligation under EPCG To boost R &D activity. per annum) nos. permitted. import scheme.

exporters. . Project Exports Equity base of ECGC being raised from Rs 500 crores to Rs 800 crores for a better risk management of Indian exporters.Duty Exemption Scheme To offset the high power costs faced by the manufacturing industry. allowed. duty free Fuel shall be allowed. with Ministry of Finance. Details will be worked out in consultation abroad. RBI. Gold Card Scheme for credit worthy exporters with good track record for easy availability of export credit on best terms being worked out by RBI. Finance. National Export Insurance Account being created for ECGC to underwrite high value projects implemented by Indian Companies abroad.

periods. duty. . BIS Mandatory Quality Certification scheme on imports amended for importers having captive consumption and in-house intesting facilities. facilities. Removal of Quantitative Restrictions Imports allowed freely for Gold and Silver Technical Regulations on Imports Technical regulations applicable on imports for export production rationalised for food & textile items. items.Deemed Exports Deemed export facility extended for items having Zero% basic Zero% Customs duty. Deemed export facility extended to Fertiliser & Refinery projects spilled over from 8th and 9th Plan periods.

duty free imports of samples upto Rs.EXIM POLICY 2005-06 2005The main focus of this policy is not only to increase export earning but the creation of more job also. allowed. etc. . 3 lakh are allowed. A package of incentives and strategy has been put. The main area for boosting export and job creation are: are: agriculture. marine etc. For jems and jewellery sector. put. diary. polutory. Rs. also.

. vishesh krishi and gram udyog yojana scheme expanded further to include forest based and agricultural products. rewarded. sector. In line with the government objective of having all inclusive growth. etc. New initiative for infrastructure development namely cold storage units. products. is being launched. Exports of specified high tech products are launched. reefer vans/containers. pack houses.. proposed to be rewarded. A new scheme to give impetus to exports of high tech products. sector. is being launched.For agro etc.EXIM POLICY 2007-2008 2007It highlighted: highlighted: Encouragement to agro exports and employment generation in the agriculture sector. launched.

In line with the government approach to address genuine grievances. Exports and employment in handloom and handicraft sectors provided further push through duty free access to machinery and equipment for effluent treatment plants.Long standing major grievance of trade is being addressed by providing service tax exemption/remission on services rendered in India and utilised by exporters. . tax. products. focus products scheme expanded further to include new agro and forest products. This should bring cheers to the exporters. plants. fraternity. For effectively ensuring all inclusive growth for farmers and tribals. services rendered abroad and charged on exports from India to be exempted from service tax. exporting fraternity.

duty free access to tools. machinery and equipment proposed to be provided to give them competitive edge.To sharpen core strength of promising gems and jewellery sectors and handicraft sector. edge. scheme. criteria and . Rationalisation in the threshold reclassification of status holder scheme. Export of rhodium polished silver jewellery to be encouraged further. further.

Djibouti.   Refund of service tax on almost all the services. SplitSplit-up facility under DFIA Scheme introduced. 2009. Bosnia-Herzegovina. introduced. Income tax benefit to 100% EOUs has been extended by 100% Government. Honduras. Coverage of FMS has been increased and additional 10 countries have been included. Croatia. These are Mongolia. Sudan. included. BosniaAlbania. services. Ghana and Colombia. Government. Macedonia.   .EXIM POLICY 2008-2009 2008Policy highlighted:highlighted:  DEPB scheme has been extended till May 2009. Colombia.

    . US$ 50.000. instead of the present system of paying duty on consignment basis. EOUs shall be allowed to pay excise duty on monthly basis. 00. basis. through Foreign Post Office is raised to US$ 75. Setting up a new Export Promotion Council for Telecom Sector.000.000.000. Value of jeweler parcels.000. US$ 75.75 000 Rs. Rs. Customs duty payable under EPCG Scheme has been reduced from 5% to 3%. Earlier it was from US$ 50. Duty free import of samples has been increased from Rs. 1. 00. Sector.000. to Rs.

09. for exports made with effect etc.EXIM POLICY 2009-2010 2009IT HIGHLIGHT Rupees 325 Crores would be provided under Promotional Schemes for Leather. Technical textiles and stapling machine have been added under Focus Product Scheme.4 of Foreign Trade Policy for the purpose of import of precious metals. MSTC Limited. procedure and monitoring provisions for implementation of these additional agencies would be notified separately in line with RBI guidelines.The metals. Diamond India Limited. 09. Scheme. from 1. Gem & Jewellery Export Promotion Council and Star Trading Houses (for gem and jewellery sector) have been added under the list of nominated agencies notified under Para 4A.4. guidelines. Textile etc. STCL Limited. .

. slowdown. products. is now extended for payment of duty for import of restricted items also. the export obligation for all exporters of that product(s) is to be reduced proportionately. This proportionately. in case of decline in exports of a product(s) by more than 5%. Under EPCG scheme. DEPB/Duty Credit Scrip can be used for payment of duty only on items which are under free category. The utilization category. for exports 2009-10.Export obligation period against advance authorizations has been extended upto 36 months in view of the present global economic slowdown. provision has been extended for the year 2009-10. during 2008-09. Value cap applicable under DEPB have been revised upwards for products. At present. also. 2008-09.

the threshold limit for recognition as Premier Trading House has now been reduced to Rs. (DGHS). Srinagar.In view of the prevailing global slowdown. for textiles and diamonds respectively.7500 crores. respectively. . crores. Independent office of DGFT being opened at Srinagar. Rs. Bhilwara in Rajasthan and Surat in Gujarat have been recognized as Towns of Export Excellence. Export of blood samples is now permitted without license after obtaining µno objection certificate¶ from Director General of Health Services (DGHS).

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