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:
|In Consumer Packs
|Plastic packing for accomodation connectors for various types
|Carboys, bottles, flasks, and similar articles
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%.
* Free import of second hand capital goods upto 10 years old.
Salient Points from the Speech of Commerce & Industry Minister
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 comprehensive information 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.