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Latest Exim Policy 2004-09

Latest Exim Policy 2004-09

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Published by Heavy Gunner

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Published by: Heavy Gunner on Jan 11, 2009
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05/10/2014

 
ANNUAL SUPPLEMENT 2007 TO FOREIGN TRADEPOLICY (2004-09)New Delhi: April 19, 2007
A FIVE-YEAR FOREIGN TRADE POLICY REGIME WASANNOUNCED BY THE COMMERCE AND INDUSTRY MINISTER,MR KAMAL NATH IN THE YEAR 2004. STABILITY OF TRADEPOLICY REGIME HAS YIELDED VERY POSITIVE RESULTS ANDIN THE THREE YEARS SINCE THEN, INDIA’S MERCHANDISEEXPORTS HAVE ALMOST DOUBLED. INDIA’S SHARE OFWORLD TRADE HAS MOVED FROM 0.76% TO ABOVE 1%.INCREMENTAL EXPORTS IN LAST 3 YEARS HAVE CREATEDADDITIONAL 75 LAKHS JOBS.CONSISTENT GROWTH KEPT PACE WITH TARGET. EXPORTSTOUCHED US$ 125 BILLION DURING LAST FINANCIAL YEAR.EXPORT TARGET FOR 2007-08 FIXED AT US$ 160 BILLION, TOBE RAISED TO US$ 200 BILLION FOR 2008-09.CURRENT ANNUAL SUPPLEMENT TO FTP AIMS TO PROVIDEFURTHER MOMENTUM TO EXPORTS GROWTH. CHANGESINCLUDE THE FOLLOWING MAJOR INITIATIVES:-ENCOURAGEMENT TO AGRO EXPORTS AND EMPLOYMENTGENERATION IN THE AGRICULTURE SECTOR.NEW INITIATIVE FOR INFRASTRUCTURE DEVELOPMENTNAMELY COLD STORAGE UNITS, PACK HOUSES, REEFERVANS/CONTAINERS, ETC., FOR AGRO SECTOR, IS BEINGLAUNCHED.IN LINE WITH THE GOVERNMENT OBJECTIVE OF HAVING ALLINCLUSIVE GROWTH, VISHESH KRISHI AND GRAM UDYOG YOJANA SCHEME EXPANDED FURTHER TO INCLUDE FORESTBASED AND AGRICULTURAL PRODUCTS.
 
A NEW SCHEME TO GIVE IMPETUS TO EXPORTS OF HIGHTECH PRODUCTS, IS BEING LAUNCHED. EXPORTS OFSPECIFIED HIGH TECH PRODUCTS ARE PROPOSED TO BEREWARDED.LONG STANDING MAJOR GRIEVANCE OF TRADE IS BEINGADDRESSED BY PROVIDING SERVICE TAXEXEMPTION/REMISSION ON SERVICES RENDERED IN INDIAAND UTILISED BY EXPORTERS. THIS SHOULD BRING CHEERSTO THE EXPORTING FRATERNITY.IN LINE WITH THE GOVERNMENT APPROACH TO ADDRESSGENUINE GRIEVANCES, SERVICES RENDERED ABROAD ANDCHARGED ON EXPORTS FROM INDIA TO BE EXEMPTED FROMSERVICE TAX.FOR EFFECTIVELY ENSURING ALL INCLUSIVE GROWTH FORFARMERS AND TRIBALS, FOCUS PRODUCTS SCHEMEEXPANDED FURTHER TO INCLUDE NEW AGRO AND FORESTPRODUCTS.FOR DIVERSIFYING EXPORTS TO TAP HITHERTOUNEXPLORED MARKETS, SCOPE OF FOCUS MARKET SCHEMEIS BEING EXPANDED TO INCLUDE 16 NEW COUNTRIESINCLUDING 10 CIS COUNTRIES,EXPORTS AND EMPLOYMENT IN HANDLOOM ANDHANDICRAFT SECTORS PROVIDED FURTHER PUSH THROUGHDUTY FREE ACCESS TO MACHINERY AND EQUIPMENT FOREFFLUENT TREATMENT PLANTS.TO SHARPEN CORE STRENGTH OF PROMISING GEMS ANDJEWELLERY SECTORS AND HANDICRAFT SECTOR, DUTYFREE ACCESS TO TOOLS, MACHINERY AND EQUIPMENTPROPOSED TO BE PROVIDED TO GIVE THEM COMPETITIVEEDGE.EXPORT OF RHODIUM POLISHED SILVER JEWELLERY TO BEENCOURAGED FURTHER.
 
TO REDUCE TRANSACTION COST FOR DIAMOND SECTOR,TESTING FACILITY AT DUBAI INCORPORATED IN THE LIST OFCERTIFYING AGENCIES.EMPLOYMENT, MANUFACTURING AND VALUE ADDITIONS INTHE EOU SCHEME TO BE ENCOURAGED FURTHER BYEXTENDING THE BENEFIT OF FOCUS PRODUCTS, FOCUSMARKET, AND VISHESH KRISHI AND GRAM UDYOG YOJANASCHEME.MAJOR SIMPLIFICATION ATTEMPTED THROUGH FINE TUNINGOF EXISTING PROCEDURES UNDER VARIOUS SCHEMES FORTRANSPERANCY, ACCOUNTABILITY, AND REDUCINGTRANSACTION TIME.EFFORTS TO BE MADE TO PROVIDE TIMELY DISBURSEMENTOF CENTRAL SALES TAX, DUTY DRAWBACK, AND TERMINALEXCISE DUTY. IN CASE OF ANY DELAY, INTEREST TO BEPROVIDED WITH EFFECT FROM 1.4.2006.EXPORTERS AFFECTED BY FORCE MAJEURE OR OTHERUNFORESEEN CIRCUMSTANCES/REASONS, TO BE PROVIDEDMORE TIME FOR COMPLETING THEIR EXPORT OBLIGATION.FOR ENCOURAGING PRODUCT DEVELOPMENT &DIVERSIFICATION FOR COMPETING IN THE INTERNATIONALMARKET, THE LIMIT FOR DUTY FREE IMPORT OF SAMPLESINCREASED TO RS.75,000/-RATIONALISATION IN THE THRESHOLD CRITERIA AND RE-CLASSIFICATION OF STATUS HOLDER SCHEME.DUTY ON FUEL AND 4% SPECIAL ADDITIONAL DUTY TO BEFACTORED IN THE DEPB SCHEMEEPCG SCHEME REVAMPED TO ACHIEVE SIMPLIFICATION ANDMAKE IT USER FRIENDLY.BENEFIT OF ALL DUTY EXEMPTION AND REMISSION SCHEMESSUCH AS ADVANCE AUTHORISATION SCHEME, DEPB AND

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