You are on page 1of 4

AMENDMENTS AND HIGHLIGHTS OF FOREIGN TRADE POLICY

Submitted by
S.BAGIYALAKSHMI
(Reg.No. 15-PI-11)

Submitted to
MS.SARANYA.,

Foreign Trade Policy 2015-2020 of India is ready to declare on 1st of April,


2015 at Vigyan Bhawan at 3.30PM.
The new foreign trade policy 2015-2020 is kept ready to make necessary
shape after forming new Government,on 1st of April, 2015. However, the validity
of Foreign Trade Policy 2015-2020 will be with effect from the first notification at
the time of declaration of FTP 2015-20. The FTP 2015-20 comes in to force with
effect from 01st April 2015.
Changes in schemes and incentives are expected in new Foreign Trade
Policy 2015-20. However, the status quo might be maintained under some of the
schemes. The priorities of policies taken by new government also are likely to be
incorporated in new Foreign Trade Policy 2015-2020 (FTP 2015-20).
The new Foreign Trade Policy 2015-2020 (FTP 2015-20) is made product
wise and location wise and tried to maximize the foreign trade from the country.
Although some exporters could not make benefit out of Foreign Trade Policy of
2009 -14, those exporters can contact local office of Director General of Foreign
Trade DGFT to get assistance.
Pre policy suggestions to Foreign Trade Policy 2015-2020 (FTP 201520)have been sent from different government departments concerned, Export
Promotion Councils, Commodity Boards, Manufacturers associations, Traders
forum, and other export promotion agencies of government and non government to
the concerned authorities to shape new Foreign Trade Policy 2015-2020. Customs
and Banking related matters also have been updated after discussing all concerned
to mold Foreign Trade Policy 2015-2020 (FTP 2015-20) in such a way to
safeguard exporters of the county by resolving their previous issues under Foreign
Trade Policy. Federation of Indian Exporters Association has submitted their

reports in regional wise to strengthen the contents of new Foreign Trade Policy
2015-2020 (FTP 2015-20). We expect most of the recommendations and
suggestions on the issues have been incorporated in new foreign trade policy 20152020 (FTP 2015-20).
The Foreign Trade Policy 2015-2020 has been designed by including long
term and medium term strategy to boost overall growth of Indias foreign trade by
enhancing trade competitiveness.
Today, Foreign Trade Policy 2015-2020 has been announced by Ministry of
Commerce & Industry which shall be effective from 1st Apr15 to 31st Mar20.
The glimpse of the same has been produced herein below:
1. Five different schemes(Focus Product Scheme, Market Linked Focus Product
Scheme, Focus Market Scheme, Agri Infrastructure Incentive Scrip, VKGUY)
merged into single unconditional scheme named as Merchandise Export from India
Scheme(MEIS);
2. SFIS(Serve from India Scheme) has been replaced by Service Exports from
India Scheme(SEIS) so as to allow benefits to all services providers located in
India, instead of Indian Service Providers. This amendment has been made to abide
by the recent verdict pronounced by Honble Delhi High Court in case of YUM
RESTAURANTS(I) Pvt. Ltd. V. UOI & Ors.;
3. Scrips as well as goods under both the aforesaid schemes shall be fully
transferable;
4. MEIS benefit shall be computed on basis of FOB value of exports, whereas
benefit under SEIS shall be based on Net foreign exchange earned;
5. Rates under SEIS shall be 3% and 5%, depending on nature of industry notified;

6. Import of capital goods under EPCG Authorisation Scheme shall not be eligible
for exemption from payment of anti-dumping duty, safeguard duty and transitional
product specific safeguard duty;
7. Scrips under both the schemes can be used for the payment of customs duty,
excise duty and service act at the time of procurement;
8. Certificates by CA/CS/CWA, etc. shall be allowed to be uploaded
electronically(digitally signed). - See more at: http://taxguru.in/dgft/8-importantforeign-trade-policy-20152020.html#sthash.EPDLDd32.dpuf