banking
overview
| news
| basics
|
lendings
|advanced banking
| products
| IT
in banking
articles
& policies |
banking software|
deposits|
bank directory|
internet banking|
bank results|
banking & you
Click for "Policy Guidelines"
Click for "Features on Banking"
Click for "Daily News"
7. Export Promotion Schemes:
Foreign Trade Policy 2004-09
(a) Target Plus:
A new scheme to accelerate growth of exports called ‘Target Plus’ has been introduced.
Exporters who have achieved a quantum growth in exports would be entitled to duty free credit based on incremental exports substantially higher than the general actual export target fixed. (Since the target fixed for 2004-05 is 16%, the lower limit of performance for qualifying for rewards is pegged at 20% for the current year).
Rewards will be granted based on a tiered approach. For incremental growth of over 20%, 25% and 100%, the duty free credits would be 5%, 10% and 15% of FOB value of incremental exports.
(b) Vishesh Krishi Upaj Yojana:
Another new scheme called Vishesh Krishi Upaj Yojana (Special Agricultural Produce Scheme) has been introduced to boost exports of fruits, vegetables, flowers, minor forest produce and their value added products.
Export of these products shall qualify for duty free credit entitlement equivalent to 5% of FOB value of exports.
The entitlement is freely transferable and can be used for import of a variety of inputs and goods.
(c) ‘Served from India’ Scheme:
To accelerate growth in export of services so as to create a powerful and unique ‘Served from India’ brand instantly recognized and respected the world over, the earlier DFEC scheme for services has been revamped and re-cast into the ‘Served from India’ scheme.
Individual service providers who earn foreign exchange of at least Rs.5 lakhs, and other service providers who earn foreign exchange of at least Rs.10 lakhs will be eligible for a duty credit entitlement of 10% of total foreign exchange earned by them.
In the case of stand-alone restaurants, the entitlement shall be 20%, whereas in the case of hotels, it shall be 5%.
Hotels and Restaurants can use their duty credit entitlement for import of food items and alcoholic beverages.
(d) EPCG:
(i) Additional flexibility for fulfillment of export obligation under EPCG scheme in order to reduce difficulties of exporters of goods and services.
(ii) Technological upgradation under EPCG scheme has been facilitated and incentivised.
(iii) Transfer of capital goods to group companies and managed hotels now permitted under EPCG.
(iv) In case of movable capital goods in the service sector, the requirement of installation certificate from Central Excise has been done away with.
(v) Export obligation for specified projects shall be calculated based on concessional duty permitted to them. This would improve the viability of such projects.
(e) DFRC:
Import of fuel under DFRC entitlement shall be allowed to be transferred to marketing agencies authorized by the Ministry of Petroleum and Natural Gas.
(f) DEPB:
The DEPB scheme would be continued until replaced by a new scheme to be drawn up in consultation with exporters.
<<<< Back to Main Page of Foreign Trade Policy 2004-09
about us | contact us |
associate | terms of use | disclaimer
©copyright banknetindia.com All rights reserved worldwide.