EXIM POLICY

Why do we need exports?

Export means trade across the boundaries of the nation.

No country is self sufficient hence the countries all over the world have become interdependent.

Exim policy
Export import policy (EXIM) or Foreign Trade Policy is a set of guidelines and instructions established by the DGFT in matters related to the import and export of goods in India. The Foreign Trade Policy of India is guided by the Export Import known as EXIM Policy of the Indian Government and is regulated by the Foreign Trade Development and Regulation Act, 1992.

 History of Exim Policy of India

In the year 1962, the Government of India appointed a special Exim Policy Committee to review the governments previous export import policies. The committee was later on approved by the Government of India. Mr. V. P. Singh, the then Commerce Minister and announced the Exim Policy on the 12th of April, 1985

 Objectives Of The Exim Policy : The main objective of the Government's EXIM Policy is to promote exports to the maximum extent. Exports should be promoted in such a manner that the economy of the country is not affected by unregulated exportable items specially needed within the country. To stimulate sustained economic growth by providing access to essential raw materials, intermediates, components,' consumables and capital goods required for augmenting production.

 To generate new employment Opportunities To Encourage the attainment of internationally accepted standards of quality. To provide quality consumer products at reasonable prices.

 Governing Body of Exim Policy The Government of India announces the Exim Policy every five years under Section 5 of the Foreign Trade (Development and Regulation Act), 1992 The Exim Policy is updated every year on the 31st of March and the modifications, improvements and new schemes became effective from 1st April of every year.

INDIAS FOREIGN TRADE POLICY

2009-14

Aim in General

The policy aims at developing export potential, improving export performance, boosting foreign trade and earning valuable foreign exchange. FTP assumes great significance this year as India's exports have been battered by the global recession. A fall in exports has led to the closure of several small- and medium-scale export-oriented units, resulting in large-scale unemployment.

Targets:

Export Target : $ 200 Billion for 2010-11 Export Growth Target: 15 % for next two year and 25 % thereafter.

Towns of Export Excellence (TEE)

The following cities have been recognized as towns of export excellence (TEE) Handicrafts : Jaipur, Srinagar and Anantnagar Leather Products : Kanpur,Dewas and Ambur Horticultural Products: Malihabad

Announcements for Gems & Jewellery Sector

Duty Drawback is allowed on Gold Jewellery exports to neutralize duty incidence. Introduction of a new facility to allow import on consignment basis of cut & polished diamonds for the purpose of grading/ certification.

 Announcements for Automobile Industry

Those Automobile industries which have their R&D establishment will be allowed free import of reference fuels (petrol and diesel), upto a maximum of 5 000 L per annum, which are not manufactured in India

 Announcements for Handloom Exports

The claims under Focus Product Scheme, the requirement of " Handloom mark" was required previously. This has been removed.

Announcements for Leather Exports :

On the payment of 50 % applicable export duty, Leather sector shall be allowed re-export of unsold imported raw hides and skins and semi finished leather .

Thank you