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EXIM policy and Promotional

measures

Foreign trade policy

EXIM policy introduced for a period of


5 yrs.
EXIM policy renamed as FTP in 2004.
Provides list of initiatives and
procedural guidelines to importers
and exporters.

Main objectives of Indias FTP

Strengthen base for export production


Special emphasis on exports
To simplify procedures for import licensing and
export promotion
To facilitate technological upgradation
To promote import substitution and self reliance
Employment generation
To provide export incentives to exporters
To provide continuity and stability to FTP.
To encourage high standards of quality.
To establish framework for globalisation.

Highlights of FTP 2009-14


Focus product scheme:
- Includes engineering products, value added
products of jute and plastic, green technology
products, vegetables, etc.
- Incentives increased from 1.25% to 2% of
FOB value of exports.
Focus market scheme:
- 26 new markets are added.
- 16 countries from Latin America and 10 from
Asia-Oceanic.
- Incentives increased from 2.5% to 3% of FOB
value of exports.

Green products from North east:


- FPS extended to export of green products and
other export items from NE region.
- To generate employment opportunities in NE.
Agriculture sector:
- Focus on export of agricultural items.
- Reduction in transaction and handling costs.
Technological upgradation:
- EPCG scheme at zero duty is introduced.
- Available to apparels, basic chemicals,
engineering, electronics, etc.

Gems & Jewellery sector:


- DBK allowed on export of gems and jewellery.
- Reduces impact of duty.
Automobile sector:
- Free import of reference fuels like petrol and
diesel upto a maximum of 5KL per annum.
Tea sector:
- DTA (domestic tariff area) sale limit of instant
tea by EOUs increased from 30% to 50%.

Leather sector:
- FPS also extended to leather products where
incentives are upto 2% of FOB value of
exports.
- Also allowed to re-export unsold imported raw
hides and skins.
EPCG scheme:
- Export obligation reduced to 50% of normal
export obligation.
- This would enable Indian firms to import
quality spares to increase life of existing plant.

Negative list of exports

Contains those export items which


are either banned or cannot be freely
exported.
3 parts:
- Prohibited items
- Restricted items
- Canalised items

Prohibited items:
- Banned from exporting
- Includes all forms of wild animals,
exotic birds, all items of plants,
humans skeletons, chemicals as
notified by DGFT, sandalwood items.

Restricted items:
- Allowed to export only with special
licensing by DGFT.
- at present, 31 items including
cattle, camel, chemical fertilisers, fur
of domestic animals, hides and skins.

Canalised items:
- To be exported only through designated
canalised agencies.
Petroleum products IOC
Mica waste and scrap MMTC (Metals &
Minerals Trading Corp) and MITCO
Mineral ores Indian rare earth ltd, Kerala
minerals and metals ltd, MMTC & MOIL
Nigar seeds NAFED, TRIFED

DGFT

Director General of Foreign Trade


32 regional offices
Assists ministry of commerce in
formulation and implementation of
FTP.

Role of DGFT

Implementation of FTP
Granting of IEC
Regulates transit of goods
Resolving of export related problems
Interaction with trade and industry
Coordination with other offices
Trade facilitator
Publications
Forthcoming e-governance initiatives

FTP 2015-20

Announced on 1st April, 2015.


Aims to nearly double Indias exports to US
$900 billion by 2020.

Highlights :
Merchandise exports from India scheme (MEIS)
- Notified goods exported to notified markets
would get incentives from 2%-5% of FOB value
of exports.
- Benefits to be provided as duty-credit scrips.
- Scrips can be used for payment of customs
duty, excise duty and service tax.

Services export from India Scheme (SEIS)


- Shall apply to service providers loacted in
India.
- Rate of reward based on net foreign exchange
earned.
- In form of duty credit scrip that is freely
transferable and usable for all types of goods.
- SEIS scrip of 3%-5% of net foreign exchange
earned.