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Home » Exim Policy

Exim Policy


EXIM policy highlights

EXIM POLICY HIGHLIGHTS

Highlights of the Exim Policy are mentioned below for your ready reference.

1. MARKET ACCESS INITIATIVE (MAI)

The Government would assist the industry in research & development, market research, specific market and product studies, warehousing and retail marketing infrastructure in select countries and direct market promotion activities through media advertising and buyer seller meets. A plan scheme has been evelved for this purpose.

2. SPECIAL ECONOMIC ZONES

* Items reserved for SSI do not require any licence for setting up units in SEZ.

* Units in SEZ can bring back their export proceeds in 365 days as against normal period of 180 days and can retain 100% of the proceeds in the EEFC account.

3. REMOVAL OF Qrs.

The QRs have been removed in respect of the following plastic items:

391990
01.90

In Consumer Packs

Free

392310
09.10

Plastic packing for accomodation connectors for various types

Free

392310
09.90

Other

Free

392330 00

Carboys, bottles, flasks, and similar articles

Free


4. EXPORT PROMOTION CAPITAL GOODS SCHEME

* Imports of jigs, fixtures, dies, moulds, to be allowed for the full CIF value of the licence instead of restricting to 20% of the CIF value of license.

* No penalty for valuewise shortfall under EPCG except for the customs duty together with interest.

5. ANNUAL ADVANCE LICENCE

* The entitlement for Annual Advance Licence increased from 125% to 200% of the    FOB value of preceding year's exports.

6. DUTY FREE REPLENISHMENT CERTIFICATE SCHEME

* Validity of Duty Free Replenishment Certificate Scheme (DFRC) to be extended from 12 months to 18 months.

* Coverage of additional ports under DFRC.

7. DUTY ENTITLEMENT PASSBOOK SCHEME

* Provision made for claiming DEPB against advance payment.

* Validity of DEPB extended upto the last day of the month in which the same is expiring.

* Rationalization of DEPB rates in line with changes in custom duty on account of Union Budget - DEPB rates on ball-pens has been reduced to 8%.

8. MISCELLANEOUS

* Free import of second hand capital goods upto 10 years old.

Salient Points from the Speech of Commerce & Industry Ministe Thru Murasoli Maran

* 20% growth for the merchandise exports during the period - April 2000 to February 2001.


* Target to achieve GDP per capita of the order of 7% per year over the next 10 years.


* Export growth to achieve 1% share of global trade by the year 2004-05.


* Export growth rate of 18% for the year 2001-02.

  • Ministry of Commerce to set up a Business-cum Trade Facilitation Centre and trade Portal in Pragati Maidan, New Delhi in order to build up a comprehensivei nformation base and easy accessibility to relevant information for the exporters and importers.


    * India's import basket has not been significantly affected with the QR phase out. The top 20 product groups continue to constitute 86-88% of total imports.


    * Safeguard measures to counter surge in impports/serious injury to domestic industry:

(a)Imposition of Safeguard Duties

(b)Imposition of temporary Qrs


* Creation of a standing group consisting of Commerce Secretary, Revenue Secretary, Secretary SSI & ARI, Secretary AHD, and Director General of Foreign Trade, to function as a "War-room" for tracking, collating and analysing data on 300 sensitive items, which are of importance to the public.









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