Description
EXPORT IMPORT : PROCEDURES AND DOCUMENTATION
2013-2014
WHAT IS FOREIGN TRADE POLICY?
? The Union Commerce Ministry, Government of India announces the integrated Foreign Trade Policy (FTP) in every five year. ? It is also called as EXIM policy. ? Export-Import (EXIM) Policy frames rules and regulations for exports and imports of a country. ? This policy is updated every year with some modifications and new schemes. ? New schemes come into effect on the first day of financial year i.e. April 1, every year.
OBJECTIVES
? To Increase Exports. ? To Provide Additional Support, Mainly To Those Sectors Which Have Been Hit By Recession In The Developed World. ? To Double India?s Export Of Goods And Services By 2014. ? To Double India?s Share In Global Trade By 2020.
? Highlights of Special Initiatives : 1. Higher Support For Market Development & Product Diversification ? 27 New Markets Have Been Added Under Focus Market Scheme. ? The Incentive Available Under Focus Market Scheme (Fms) Has Been Raised From 2.5% To 3%. ? There Has Been A Significant Increase In The Outlay Under „Market Linked Focus Product Scheme? By Inclusion Of More
? Highlights of Special Initiatives :
2. Technological Upgradation
? EPCG Scheme at Zero Duty has been introduced.
? This scheme is available for : • Engineering Products • Electronic Products • Basic Chemicals And Pharmaceuticals • Apparels And Textiles • Chemicals And Related Products
? Highlights of Special Initiatives :
3. New Towns of Export Excellence
THE FOLLOWING CITIES HAVE BEEN RECOGNIZED AS TOWNS OF EXPORT EXCELLENCE ? Handicrafts : Jaipur, Srinagar and Anantnag.
? Leather Products : Kanpur, Dewas and Ambur. ? Horticultural Products : Malihabad.
? Highlights of Special Initiatives :
4. Scheme for Status Holders
? The Government Recognized „Status Holders? Contribute Approx. 60% Of India?s Goods Exports.
? Additional Duty Credit Scrips Can Be Used For Import Of Capital Goods By These Status Holders @ 1% Of The Fob Value Of Past Exports Accelerate Exports And Encourage Technological Up Gradation.
? The Status Holder Incentive Scrip Scheme Is Being Expanded To Cover More Export Product Groups.
? Highlights of Special Initiatives :
5. Marine Sector
? Fisheries Have Been Included In The Sectors Which Are Exempted From Maintenance Of Average EO Under EPCG Scheme, On The Condition That Fishing Trawlers, Boats, Ships And Other Similar Items Shall Not Be Allowed To Be Imported. ? This Will Help In Providing Encouragement To The Marine Sector Which Has Been Affected By The Present Downturn In Exports.
? Highlights of Special Initiatives :
6. Gems & Jewellery Sector
? To Neutralize Duty Incidence On Gold Jewellery Exports, It Has Now Been Decided To Allow Duty Drawback On Such Exports.
? In An Endeavour To Make India A Diamond International Trading Hub, It Is Planned To Establish “Diamond Bourses”. ? A New Facility To Allow Import On Consignment Basis Of Cut & Polished Diamonds For Grading /Certification Purposes Has Been Introduced.
? Highlights of Special Initiatives :
7. Agriculture Sector
? To Reduce Transaction And Handling
Costs, A Single Window System To Facilitate Export Of Perishable Agricultural Produce Has Been Introduced. ? The System Will Create Multi-functional Agencies To Be Accredited By Agricultural Products Exports Development Authority (Apeda).
? Highlights of Special Initiatives :
8. Leather Sector
? Leather Sector Shall Be Allowed Re-export Of Unsold Imported Raw Hides And Skins And Semi-finished Leather From Public Bonded Ware Houses, Subject To Payment Of 50% Of The Applicable Export Duty.
? Highlights of Special Initiatives :
9. Tea Sector
? Domestic Tariff Area (DTA) Sale Limit Of Instant Tea By EOU Units Has Been Increased From The Existing 30% To 50%. ? Export Of Tea Has Been Covered Under Vishesh Krishi And Gramin Udyog Yojna (Vkguy) Scheme Benefits. ? Minimum Value Addition Under Advance Authorisation Scheme For Export Of Tea Has Been Reduced From The Existing 100% To 50%.
? Highlights of Special Initiatives :
10. Pharmaceutical Sector
? Export Obligation Period For Advance Authorizations Issued Has Been Increased From The Existing 6 Months To 36 Months, As Is Available For Other Products.
? Pharma Sector Has Been Extensively Covered Under Market Linked Focus Product Scheme (Mlfps) For Countries In Africa And Latin America; Some Countries In Oceania And Far East.
? Highlights of Special Initiatives :
11. Handloom Sector
? To Simplify Claims Under Focus Product Scheme (FPS), Requirement Of „Handloom Mark? For Availing Benefits Under FPS Has Been Removed.
? Export Oriented Units (Eous) Have Been Allowed To Sell Products Manufactured By Them In Domestic Trade Area (Dta) Upto A Limit Of 90% Instead Of Existing 75%.
? Highlights of Special Initiatives :
12. Encouragement to Value Added Manufacturing
? To Encourage Value Added Manufactured Export, A Minimum 15% Value Addition On Imported Inputs Under Advance Authorisation Scheme Has Now Been Prescribed.
? Duty Entitlement Passbook (Depb) Rate Shall Also Include Factoring Of Custom Duty Component On Fuel Where Fuel Is Allowed As A Consumable In Standard Input-output Norms.
? Highlights of Special Initiatives :
13. Flexibility Provided To Exporters
? Payment Of Customs Duty For Export Obligation (EO) Shortfall Has Been Allowed By Way Of Debit Of Duty Credit Scrips. ? Time Limit Of 60 Days For Re-import Of Exported Gems And Jewellery Items, For Participation In Exhibitions Has Been Increased To 90 Days In Case Of USA
? Highlights of Special Initiatives :
14. Reduction of Transaction Costs
? No Fee Shall Be Charged For Grant Of Incentives Of Foreign Trade Policy. ? For All Licence Applications, Maximum Applicable Fee Is Being Reduced To Rs. 1,00,000 From The Existing Rs. 1,50,000 For Manual Applications And Rs. 50,000 From Rs.75,000 For EDI Applications.
? Highlights of Special Initiatives :
15. Directorate of Trade Remedy Measures
? A Directorate Of Trade
Remedy Measures Shall Be Set Up To Provide Support To Indian Industry And Exporters In Getting Their Rights Through Trade Remedy Measures.
Conclusion
? India Needs To Try Diversifying Its Exports. ?Although India Has Made Major Strides In Diversifying Its Exports But A Lot Needs To Be Done Not Only To Diversify The Export Basket But Also Have A Perceptible Share In The Top Items Of The World Trade. ? Thus In Conclusion We Can Say That India Is Trying To Be More Liberal In Its Foreign Trade Policy.
doc_754426901.pptx
EXPORT IMPORT : PROCEDURES AND DOCUMENTATION
2013-2014
WHAT IS FOREIGN TRADE POLICY?
? The Union Commerce Ministry, Government of India announces the integrated Foreign Trade Policy (FTP) in every five year. ? It is also called as EXIM policy. ? Export-Import (EXIM) Policy frames rules and regulations for exports and imports of a country. ? This policy is updated every year with some modifications and new schemes. ? New schemes come into effect on the first day of financial year i.e. April 1, every year.
OBJECTIVES
? To Increase Exports. ? To Provide Additional Support, Mainly To Those Sectors Which Have Been Hit By Recession In The Developed World. ? To Double India?s Export Of Goods And Services By 2014. ? To Double India?s Share In Global Trade By 2020.
? Highlights of Special Initiatives : 1. Higher Support For Market Development & Product Diversification ? 27 New Markets Have Been Added Under Focus Market Scheme. ? The Incentive Available Under Focus Market Scheme (Fms) Has Been Raised From 2.5% To 3%. ? There Has Been A Significant Increase In The Outlay Under „Market Linked Focus Product Scheme? By Inclusion Of More
? Highlights of Special Initiatives :
2. Technological Upgradation
? EPCG Scheme at Zero Duty has been introduced.
? This scheme is available for : • Engineering Products • Electronic Products • Basic Chemicals And Pharmaceuticals • Apparels And Textiles • Chemicals And Related Products
? Highlights of Special Initiatives :
3. New Towns of Export Excellence
THE FOLLOWING CITIES HAVE BEEN RECOGNIZED AS TOWNS OF EXPORT EXCELLENCE ? Handicrafts : Jaipur, Srinagar and Anantnag.
? Leather Products : Kanpur, Dewas and Ambur. ? Horticultural Products : Malihabad.
? Highlights of Special Initiatives :
4. Scheme for Status Holders
? The Government Recognized „Status Holders? Contribute Approx. 60% Of India?s Goods Exports.
? Additional Duty Credit Scrips Can Be Used For Import Of Capital Goods By These Status Holders @ 1% Of The Fob Value Of Past Exports Accelerate Exports And Encourage Technological Up Gradation.
? The Status Holder Incentive Scrip Scheme Is Being Expanded To Cover More Export Product Groups.
? Highlights of Special Initiatives :
5. Marine Sector
? Fisheries Have Been Included In The Sectors Which Are Exempted From Maintenance Of Average EO Under EPCG Scheme, On The Condition That Fishing Trawlers, Boats, Ships And Other Similar Items Shall Not Be Allowed To Be Imported. ? This Will Help In Providing Encouragement To The Marine Sector Which Has Been Affected By The Present Downturn In Exports.
? Highlights of Special Initiatives :
6. Gems & Jewellery Sector
? To Neutralize Duty Incidence On Gold Jewellery Exports, It Has Now Been Decided To Allow Duty Drawback On Such Exports.
? In An Endeavour To Make India A Diamond International Trading Hub, It Is Planned To Establish “Diamond Bourses”. ? A New Facility To Allow Import On Consignment Basis Of Cut & Polished Diamonds For Grading /Certification Purposes Has Been Introduced.
? Highlights of Special Initiatives :
7. Agriculture Sector
? To Reduce Transaction And Handling
Costs, A Single Window System To Facilitate Export Of Perishable Agricultural Produce Has Been Introduced. ? The System Will Create Multi-functional Agencies To Be Accredited By Agricultural Products Exports Development Authority (Apeda).
? Highlights of Special Initiatives :
8. Leather Sector
? Leather Sector Shall Be Allowed Re-export Of Unsold Imported Raw Hides And Skins And Semi-finished Leather From Public Bonded Ware Houses, Subject To Payment Of 50% Of The Applicable Export Duty.
? Highlights of Special Initiatives :
9. Tea Sector
? Domestic Tariff Area (DTA) Sale Limit Of Instant Tea By EOU Units Has Been Increased From The Existing 30% To 50%. ? Export Of Tea Has Been Covered Under Vishesh Krishi And Gramin Udyog Yojna (Vkguy) Scheme Benefits. ? Minimum Value Addition Under Advance Authorisation Scheme For Export Of Tea Has Been Reduced From The Existing 100% To 50%.
? Highlights of Special Initiatives :
10. Pharmaceutical Sector
? Export Obligation Period For Advance Authorizations Issued Has Been Increased From The Existing 6 Months To 36 Months, As Is Available For Other Products.
? Pharma Sector Has Been Extensively Covered Under Market Linked Focus Product Scheme (Mlfps) For Countries In Africa And Latin America; Some Countries In Oceania And Far East.
? Highlights of Special Initiatives :
11. Handloom Sector
? To Simplify Claims Under Focus Product Scheme (FPS), Requirement Of „Handloom Mark? For Availing Benefits Under FPS Has Been Removed.
? Export Oriented Units (Eous) Have Been Allowed To Sell Products Manufactured By Them In Domestic Trade Area (Dta) Upto A Limit Of 90% Instead Of Existing 75%.
? Highlights of Special Initiatives :
12. Encouragement to Value Added Manufacturing
? To Encourage Value Added Manufactured Export, A Minimum 15% Value Addition On Imported Inputs Under Advance Authorisation Scheme Has Now Been Prescribed.
? Duty Entitlement Passbook (Depb) Rate Shall Also Include Factoring Of Custom Duty Component On Fuel Where Fuel Is Allowed As A Consumable In Standard Input-output Norms.
? Highlights of Special Initiatives :
13. Flexibility Provided To Exporters
? Payment Of Customs Duty For Export Obligation (EO) Shortfall Has Been Allowed By Way Of Debit Of Duty Credit Scrips. ? Time Limit Of 60 Days For Re-import Of Exported Gems And Jewellery Items, For Participation In Exhibitions Has Been Increased To 90 Days In Case Of USA
? Highlights of Special Initiatives :
14. Reduction of Transaction Costs
? No Fee Shall Be Charged For Grant Of Incentives Of Foreign Trade Policy. ? For All Licence Applications, Maximum Applicable Fee Is Being Reduced To Rs. 1,00,000 From The Existing Rs. 1,50,000 For Manual Applications And Rs. 50,000 From Rs.75,000 For EDI Applications.
? Highlights of Special Initiatives :
15. Directorate of Trade Remedy Measures
? A Directorate Of Trade
Remedy Measures Shall Be Set Up To Provide Support To Indian Industry And Exporters In Getting Their Rights Through Trade Remedy Measures.
Conclusion
? India Needs To Try Diversifying Its Exports. ?Although India Has Made Major Strides In Diversifying Its Exports But A Lot Needs To Be Done Not Only To Diversify The Export Basket But Also Have A Perceptible Share In The Top Items Of The World Trade. ? Thus In Conclusion We Can Say That India Is Trying To Be More Liberal In Its Foreign Trade Policy.
doc_754426901.pptx