Import and Export Policy

Now let us discuss the highlights of the Annual Supplement 2010-11 to the Foreign Trade Policy 2009-14:

·      256 new products added under FPS (at 8 digit level), which shall be entitled for benefits @ 2% of FOB value of exports to all markets.

·      Additional benefit of 2% bonus, over and above the existing benefits of 5%/2% under Focus Product Scheme, allowed for about 135 existing products.

·      Clarification on the availability of 4% SAD refund benefit.

·      Concessional Export Credit: Interest subvention of 2% for pre-shipment credit for export sectors namely, Handloom, Handicraft, Carpet and SMEs for all export sectors.

·      Duty Entitlement Passbook (DEPB) scheme has been extended beyond 31.12.2010 till 30.06.2011.

·      Duty free import of specified trimmings, embellishments etc. shall be available on Handloom made-ups exports @ 5% of FOB value of exports.

·      Exporters shall now have the flexibility to get a high value EPCG authorisation by filing their EPCG application on Annual basis.

·      Facility of a data preparation module for Advance Authorization and Export Promotion Capital Good (EPCG) has been provided on an offline mode.

·      Finished Leather export shall be entitled for Duty Credit Scrip @ 2% under FPS.

·      Readymade Garment sector granted enhanced support under MLFPS for a period of further 6 months.

·      Tea and CSNL Cardinol included for benefits under VKGUY @ 5% of FOB value of exports.

·      Zero duty EPCG scheme, introduced in August 2009 and valid for only two years up to 31.3.2011, has been extended by one more year till 31.3.2012.

Export Import Policy or better known as EXIM Policy or foreign trade policy is a set of guiding principle and orders related to the import and export of goods.

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