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Banking
> Policies>
EXIM Policy 2000-2001
TEXT OF SPEECH (EXIM POLICY 2000-01)
[Text of the speech delivered by Hon’ble Commerce
Minister on the occasion of release of the Exim policy is an important
document for all associated with financial sector.]
The Export Promotion Capital Goods Scheme has been extended uniformly to all sectors and to all capital goods, without any threshold limits on payment 5% customs duty. The 10% countervailing duty on imports under EPCG has been withdrawn. This will also benefit domestic suppliers to EPCG holders because they will be able to get raw materials for manufacture of these goods without payment of duty. The changes in the EPCG Scheme will particularly benefit the small scale units because earlier they could import Capital Goods under this Scheme only on payment of 10% duty. d) Rationalisation of procedures: i) Duty exemption licence facility on the basis of self-declaration has been extended to deemed exports and intermediate supplies. Thus all types of licences for import of capital goods and raw materials and inputs where there are no standard norms can now be obtained on the basis of self-declaration. ii) Registration-cum-Membership Certificate shall now be required to be filed only once in 4 years instead of filing it with each application. iii) Trading House Certificates can now be obtained from the regional offices of the DGFT, instead of applying to the headquarters office in Delhi. iv) Second hand capital goods, which are less than 10 years old, can now be imported directly on surrender of SIL without obtaining an import licence. e) Deemed export benefits: have been made uniform for all sectors.
Definition of capital goods has been expanded to include all items/components/spares/accessories/tools etc.which go into the making of capital goods. These benefits have been extended for supplies to all UN organisations as also for the modernisation and renovation of power plants. f) Agro-chemicals, Biotechnology and Pharmaceuticals: We are recommending that these knowledge-intensive sectors be allowed to import laboratory equipment, chemicals and reagents upto 1% of the FOB value of exports duty free for research and development. For products conforming to the standard pharmacopoeia as per the declaration on the label, the requirement of NOC from the Drug Controller has been dispensed with. g) Silk: Input-output norms have been rationalised to promote the export of silk and silk products. Pre-export inspection of silk products by the Central Silk Board has been discontinued. The import of silk has been allowed under SIL. h) Leather, handicrafts and garments: Duty free import of trimmings, embellishments and other items has been increased from 2% to 3% of FOB value of exports.
Requirement
of endorsement from Export Promotion Councils for export of non-quota
textile items to quota countries and textile items to non-quota countries
has been dispensed with. I) Granites & Minerals: Export Oriented Units
engaged in export granite, marble and other mineral products ha-ve been
allowed to move the capital goods outside their manufacturing premises for
the purpose of excavation. j) EOU/EPZ units having an investment of Rs.5
crore and above in plant and machinery will be required to maintain only
positive value addition. All EOU/EPZ units have been allowed to carry out
job works for DTA units in all sectors. Earlier this facility was
available only for agriculture, marine and garment sectors. k) Projects:
Project exporters/construction companies/service providers with a domestic
turnover of more than Rs.100 crores can apply for International Service
House Status on signing an MOU with the DGFT undertaking to achieve export
performance of Rs. 15 crores per year over the next three years. This is
being done to enable such companies with a proven track record to
participate effectively in overseas construction projects. l) SIL : All
items on the SIL list shall be freely importable on surrender of SILs
equivalent to 5 times the cif value of the imported goods. m) Gem and
Jewellery: In order to develop India as a major trading centre for
diamonds the following steps have been taken : l A Diamond Dollar Account
Scheme has been introduced, wherein export proceeds will be retained in
Dollar Account and such DDA holder will be allowed to utilise funds in the
account for import of rough diamonds and for purchase of rough
diamonds/cut and polished diamonds from another Diamond Dollar Account
holder. This will go a long way in developing India as a major trading
centre for diamonds. l EPZ/SEZ units have been allowed to import studded
jewellery for repairs, re-make and re-export. l Personal carriage of
import parcels for Gems & Jewellery has been allowed. l Replenishment
licence, for duty free import of consumables required for Gems and
Jewellery items, has been introduced. l Replenishment licence for import
of Jewellery samples, upto 2.5% of exports of preceding year, has been
introduced. l Status holders have been allowed to import Gold directly
from foreign buyers to make jewellery and re-export. They have also been
allowed to import semifinished jewellery directly for re-export. l Exports
have been extended the facility of exporting jewellery by Speed Post. l
Value addition norms for export of plain jewellery have been rationalised
further to permit export of plain jewellery with imitation stones/cubic
zirconia etc. with the same value addition. m) Lastly, as a gesture of
bonhomie to my colleague in the Ministry, Thiru Omar Abdullah, I have
decided to give double weightage to exporters from Jammu and Kashmir for
the purpose of determining the entitlement for status certificates. This
facility is already available for exports from the North-East. The
Government attaches great importance to the development of border areas.
For this purpose it has been decided that apart from the barter trade at
the land customs checkpost at Moreh on the Indo-Burmese border, the normal
imports and exports on payment of applicable duties will also be
permitted.
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