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0 INTRODUCTION
India is looked upon as a country with immense resources available through its length and
breadth. By the time India gained Independence from the Britishers in 1947, the economy was
entirely geared to only trade. There were hardly any manufacturing facilities to suffice the needs
of the growing Indian population. The past couple of decades in the history of Indian Trade have
seen the country struggle to create manufacturing capacities across the board to be self sufficient.
The government has been focusing on the same to enable broad basing the development to move
the economy from an underdeveloped status to being a developed nation.
India today stands at an over a trillion economy. Darjeeling tea, Indian khadi cotton, Bombay
Duck, Kashmiri carpets, Indian spices and dry fruit are just a few of the famous gifts India has
given to the world. The economic levels have improved in the urban and semi-urban areas. With
economic reforms, globalisation of the Indian economy has been the guiding factor in
formulating the trade policies. The reform measures introduced in the subsequent policies have
focused on liberalization, openness and transparency. They have provided an export friendly
environment by simplifying the procedures for trade facilitation. The announcement of a new
Foreign Trade Policy for a five year period, replacing the hitherto nomenclature of EXIM Policy
by Foreign Trade Policy (FTP) is another step in increasing foreign trade. It takes an integrated
view of the overall development of India’s foreign trade and provides a roadmap for the
development of this sector. A vigorous export-led growth strategy of doubling India’s share in
global merchandise trade, with a focus on the sectors having prospects for export expansion and
potential for employment generation, constitute the main plank of the policy. All such measures
are expected to enhance India's international competitiveness and aid in further increasing the
acceptability of Indian exports. The policy sets out the core objectives, identifies key strategies,
spells out focus initiatives, outlines export incentives, and also addresses issues concerning
institutional support including simplification of procedures relating to export activities.
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Neutralizing incidence of all levies on inputs used in export products;
Facilitating development of India as a global hub for manufacturing, trading and services;
Avoiding inverted duty structure and ensuring that domestic sectors are not
disadvantaged in trade agreements;
Upgrading the infrastructure network related to the entire foreign trade chain to
international standards;
Revitalizing the Board of Trade by redefining its role and inducting into it experts on
trade policy; and
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2.0 FOREIGN TRADE POLICY 2009-2014
2.1CONTEXT
The UPA Government has assumed office at a challenging time when the entire world is facing
an unprecedented economic slow-down. The year2009 is witnessing one of the most severe
global recessions in the post-war period. Countries across the world have been affected in
varying degrees and all major economic indicators of industrial production, trade, capital flows,
unemployment, per capita investment and consumption have taken a hit.Though India has not
been affected to the same extent as other economies of the world, yet our exports have suffered a
decline in the last 10 months due to a contraction in demand in the traditional markets of our
exports. After four clear quarters of recession there is some sign of a turnaround and the
emergence of ‘green shoots’.Announcing a Foreign Trade Policy in this economic climate is
indeed a daunting task. We cannot remain oblivious to declining demand in the developed world
and we need to set in motion strategies and policy measures which will catalyse the growth of
exports.
2.2 OBJECTIVES
The short term objective of our policy is to arrest and reverse the declining trend of exports and
to provide additional support especially to those sectors which have been hit badly by recession
in the developed world. We would like to set a policy objective of achieving an annual export
growth of 15% with an annual export target of US$ 200 billion by March 2011. In the remaining
three years of this Foreign Trade Policy i.e. upto 2014, the country should be able to come back
on the high export growth path of around 25% per annum. By 2014, we expect to double India’s
exports of goods and services. The long term policy objective for the Government is to double
India’s share in global trade by 2020.
2.3 STRATEGIES
In order to meet these objectives, the Government would follow a mix of policy measures
including fiscal incentives, institutional changes, procedural rationalization, enhanced market
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access across the world and diversification of export markets. Improvement in infrastructure
related to exports; bringing down transaction costs, and providing full refund of all indirect taxes
and levies, would be the three pillars, which will support to achieve this target.
We need to encourage value addition in our manufactured exports
to take an initiative to diversify our export markets and offset the inherent disadvantage for our
exporters in emerging markets to deepen our trade engagement with other major economic
groupings in the world. The Government seeks to promote Brand India through six or more
‘Made in India’ shows to be organized across the world every year.
In the era of global competitiveness, there is an imperative need for
Indian exporters to upgrade their technology and reduce their costs. The status holders will be
permitted to import capital goods duty free (through Duty Credit Scripts equivalent to 1% of
their FOB value of exports in the previous year), of specified product groups.
For upgradation of export sector infrastructure, ‘Towns of Export
Excellence’ and units located therein would be granted additional focused support and
incentives. The policy is committed to support the growth of project exports. We would like to
encourage production and export of ‘green products’ through measures such as phased
manufacturing programme for green vehicles, zero duty EPCG scheme and incentives for
exports.
To enable support to Indian industry and exporters, especially the MSMEs, in availing
their rights through trade remedy instruments under the WTO framework, we propose to set up a
Directorate of Trade Remedy Measures. In order to reduce the transaction cost and institutional
bottlenecks, the e-trade project would be implemented in a time bound manner to bring all stake
holders on a common platform. Additional ports/locations would be enabled on the Electronic
Data Interchange over the next few years. An Inter-Ministerial Committee has been established
to serve as a single window mechanism for resolution of trade related grievances.
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3.0 HIGHLIGHTS OF FOREIGN TRADE POLICY 2009-2014
India’s export to developed countries faced a declining trend in this period. To insulate Indian
exports from the decline in demand from developed countries, in this policy focus is on
diversification of Indian exports to other markets, especially those located in Latin America,
Africa, parts of Asia and Oceania.
2. 26 new markets have been added under Focus Market Scheme. These include 16 new markets
in Latin America and 10 in Asia-Oceania.
3. The incentive available under Focus Market Scheme (FMS) has been raised from 2.5% to 3%.
4. The incentive available under Focus Product Scheme (FPS) has been raised from 1.25% to
2%.
5. A large number of products from various sectors have been included for benefits under FPS.
These include, Engineering products (agricultural machinery, parts of trailers, sewing machines,
hand tools, garden tools, musical instruments, clocks and watches, railway locomotives etc.),
Plastic (value added products), Jute and Sisal products, Technical Textiles, Green Technology
products (wind mills, wind turbines, electric operated vehicles etc.), Project goods, vegetable
textiles and certain Electronic items.
6. Market Linked Focus Product Scheme (MLFPS) has been greatly expanded by inclusion of
new products. Some major products include; Pharmaceuticals, Synthetic textile fabrics, value
added rubber products, value added plastic goods, textile made ups, knitted and crocheted
fabrics, glass products, certain iron and steel products and certain articles of aluminium among
others. Benefits to these products will be provided, if exports are made to 13 identified markets.
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7. MLFPS benefits also extended for export to additional new markets for certain products.
These products include auto components, motor cars, bicycle and its parts, and apparels among
others.
8. A common simplified application form has been introduced for taking benefits under FPS,
FMS, MLFPS and VKGUY.
9. Higher allocation for Market Development Assistance (MDA) and Market Access Initiative
(MAI) schemes is being provided.
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A number of initiatives have been taken in this Policy to focus on technological upgradation;
such initiatives include:
1. EPCG Scheme at zero duty has been introduced for certain engineering products,
electronic products, basic chemicals and pharmaceuticals, apparel and textiles, plastics,
handicrafts, chemicals and allied products and leather and leather products.
(Export Promotion Capital Goods Scheme- The scheme allows import of capital goods for pre
production, production and post production at 5% Customs duty subject to an export obligation
equivalent to 8 times of duty saved on capital goods imported under EPCG scheme to be fulfilled
over a period of 8 years reckoned from the date of issuance of licence. Capital goods would be
allowed at 0% duty for exports of agricultural products and their value added variants)
2. The existing 3 % EPCG Scheme has been considerably simplified, to ease its usage by
the exporters.
3. To encourage value added manufacture export, a minimum 15 % value addition on
imported inputs under Advance Authorisation Scheme has been stipulated.
(Advance Authorisation Scheme- Advance Authorisation is issued to allow duty free Import
Exports of inputs, which are physically incorporated in the export product (making normal
allowance for wastage). In addition, fuel, oil, energy, catalysts etc. which are consumed/utilised
in the course of their use to obtain the export product, may also be allowed under the scheme)
4. A number of products including automobiles and other engineering products have been
included for incentives under Focus Product, and Market Linked Focus Product Schemes.
5. Steps to encourage Project Exports shall be taken.
To accelerate exports and encourage technological upgradation, additional Duty Credit Scrips
shall be given to Status Holders @ 1% of the FOB value of past exports. The duty credit scrips
can be used for procurement of capital goods with Actual User condition. This facility shall be
available for sectors of leather (excluding finished leather), textiles and jute, handicrafts,
engineering (excluding Iron & steel & non-ferrous metals in primary and intermediate form,
automobiles & two wheelers, nuclear reactors & parts, and ships, boats and floating structures),
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plastics and basic chemicals (excluding pharma products) [subject to exclusions of current
beneficiaries under Technological Upgradation Fund Schemes (TUFS)]. This facility shall be
available upto 31.3.2011.
Fisheries have been included in the sectors which are exempted from maintenance of average EO
under EPCG Scheme, subject to the condition that Fishing Trawlers, boats, ships and other
similar items shall not be allowed to be imported under this provision. This would provide a
fillip to the marine sector which has been affected by the present downturn in exports. Additional
flexibility under Target Plus Scheme (TPS) / Duty Free Certificate of Entitlement (DFCE)
Scheme for Status Holders has been given to Marine sector.
The Minimum value addition under advance authorisation scheme for export of tea has been
reduced from the existing 100% to 50%. Domestic Tariff Area(DTA) sale limit of instant tea by
Export Oriented Units(EOU) units has been increased from the existing 30% to 50%. Export of
tea has been covered under Vishesh Krishi and Gram Udyog Yojana (VKGUY) Scheme benefits.
Under this scheme, exporters are entitled to 5 per cent duty credit scrip on the export value of the
consignment. Duty scrip benefits are granted with an aim to compensate high transport costs.
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3.7 PHARMACEUTICAL SECTOR
Export Obligation Period for advance authorizations issued with 6-APA(Additional Personal
Allowance) as input has been increased from the existing 6 months to 36 months, as is available
for other products. Pharma sector extensively covered under Market Linked Focus Product
Scheme (MLFPS) for countries in Africa, Latin America and some countries in Oceania and Far
East.
3.9 HANDICRAFT
• As per the FTP 2004-09, new handicraft SEZ shall be set up which would procure
products from cottage sector and then the finishing will be done for exporting.
• Specific funds are earmarked under Market Access Initiative (MAI) & Market
Development Assistance (MDA) Schemes for promoting Handicraft exports. (remains
unchanged from FTP 2004-09)
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• New towns of export excellence with a reduced threshold limit of Rs 150 crore (Rs 250
cr. in FTP 2004-09) shall be notified.
• Machinery and equipment for effluent treatment plants are exempt from customs duty.
• All handicrafts exports would be treated as special focus products and entitled to higher
incentives.
• Duty free import of specified specialized inputs allowed to the extent of 3% of FOB
value of preceding financial year’s export.
• Sports goods and toys shall be treated as a Priority sector under MDA/MAI Scheme.
Specific funds would be earmarked under MAI/ MDA Scheme for promoting exports
from this sector.
• Applications relating to Sports Goods and Toys shall be considered fast track clearance
by Director General of Foreign Trade (DGFT).
• Sports Goods and Toys are treated as special focus products and entitled to higher
incentives.
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The main focus is on:
• To increase the life of existing plant and machinery, export obligation on import of
spares, moulds etc.
• EPCG Scheme has been reduced to 50% of the normal specific export obligation.
• The facility of Re-fixation of Annual Average Export Obligation for a particular financial
year in which there is decline in exports from the country, has been extended for the 5
year Policy period 2009-14.
The Export Oriented Units (EOUs) scheme, introduced in early 1981, is complementary to the
SEZ scheme. It adopts the same production regime but offers a wide option in locations with
reference to factors like source of raw materials, ports of export, hinterland facilities, availability
of technological skills, existence of an industrial base and the need for a larger area of land for
the project. As on 31st December 2005, 1924 units are in operation under the EOU scheme. The
main objectives of the EOU scheme is to increase exports, earn foreign exchange to the country,
transfer of latest technologies stimulate direct foreign investment and to generate additional
employment.Currently EOU scheme is mentioned in the Chapter 6 of the Foreign Trade Policy
(2009-2014), Volume-I (HOP). The EOUs can export all products except prohibited items of
exports in ITC (HS).
• EOUs have been allowed to sell products manufactured by them in DTA upto a limit of
90% instead of existing 75%, without changing the criteria of ‘similar goods’, within the
overall entitlement of 50% for DTA sale.
• To provide clarity to the customs field formations, DOR shall issue a clarification to
enable procurement of spares beyond 5% by granite sector EOUs.
• EOUs will now be allowed to procure finished goods for consolidation along with their
manufactured goods, subject to certain safeguards.
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• During this period of downturn, Board of Approvals (BOA) to consider, extension of
block period by one year for calculation of Net Foreign Exchange earning of EOUs.
• EOUs will now be allowed CENVAT Credit facility for the component of SAD and
Education Cess on DTA sale.
It emphasises on encouraging production and export of green products through measures such as
phased manufacturing programme for green vehicles, zero duty EPCG scheme and incentives for
exports. It focuses on Product Scheme benefit extended for export of ‘green products’; and for
exports of some products originating from the North East.
In cases, where RBI specifically writes off the export proceeds realization, the incentives under
the FTP shall now not be recovered from the exporters subject to certain conditions.
Foreign trade policy of 2009-2014 simplified some of the complex procedures existed in the
earlier policies they are listed below.To facilitate duty free import of samples by exporters,
number of samples or pieces has been increased from existing 15 to 50. Customs clearance of
such samples shall be based on declarations given by the importers, which specify the limit of
value and quantity of samples.
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To allow exemption for up to two stages from payment of excise duty in lieu of refund, in case of
supply to an advance authorization holder (against invalidation letter) by the domestic
intermediate manufacturer. It would allow exemption for supplies made to a manufacturer, if
such manufacturer in turn supplies the products to an ultimate exporter. At present, exemption is
allowed upto one stage only.
Greater flexibility has been permitted to allow conversion of Shipping Bills from one Export
Promotion scheme to other scheme. Customs shall now permit this conversion within three
months, instead of the present limited period of only one month.
To reduce transaction costs, dispatch of imported goods directly from the Port to the site has
been allowed under Advance Authorisation scheme for deemed supplies. At present, the duty
free imported goods could be taken only to the manufacturing unit of the authorisation holder or
its supporting manufacturer.
Disposal of manufacturing wastes / scrap will now be allowed after payment of applicable excise
duty, even before fulfillment of export obligation under Advance Authorisation and EPCG
Scheme.
Regional Authorities have now been authorised to issue licences for import of sports weapons by
‘renowned shooters’, on the basis of NOC from the Ministry of Sports & Youth Affairs. Now
there will be no need to approach DGFT (Hqrs.) in such cases.
The procedure for issue of Free Sale Certificate has been simplified and the validity of the
Certificate has been increased from 1 year to 2 years. This will solve the problems faced by the
medical devices industry.
Automobile industry, having their own R&D establishment, would be allowed free import of
reference fuels (petrol and diesel), up to a maximum of 5 KL per annum, which are not
manufactured in India.
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Acceding to the demand of trade & industry, the application and redemption forms under EPCG
scheme have been simplified.
3.17 EXPORT OF GOODS
This is included only in Foreign Trade Policy 2004-2009 and not in 2009-2014 policy.
New scheme called ‘Target Plus Scheme’ introduced. Exporters to be entitled to duty free
credit based on incremental exports for 2004-05. For incremental growth of over 20 per cent, 25
per cent and 100 per cent, the duty free credits would be 5 per cent, 10 per cent and 15 per cent
of Free on Board (FOB) value of incremental exports.
Duty Entitlement Pass Book (DEPB) scheme to be continued until a new scheme is drawn up
in consultation with exporters.
Scheme of categorization of status holders as ‘Star Export Houses’ rationalized and categories
from ‘One Star Export House’ to ‘Five Star Export House’ introduced.
When a seller is asked to quote his FOB price, it means that (s)he should give a price that
includes the transportation and loading costs of goods that are to be supplied to the destination
from where the buyer bears the rest of the costs like the unloading costs etc. This simply means
that the seller assumes the risks of the goods till it is loaded on to the mode of transportation (e.g.
Ship). After the goods have been loaded, from there on the risks are borne by the buyer.
‘Target Plus Scheme’ has been introduced to accelerate the growth of exports. Status Holders
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 percent, the lower limit of performance for qualifying for rewards
is pegged at 20 percent for the current year). Government has modified Target Plus Scheme for
exports during 2005-06 by providing duty credit benefits at 5% of incremental exports, removing
petroleum, cereals, ores, sugar and gems & jewellery from purview of the scheme, and by
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lowering eligibility criteria to Rs.5 crore from Rs.10 crore. After being in operation for exports
during 2004 05 and 2005-06, Target Plus Scheme has been abolished for exports from 1/4/2006
onwards.
Capital goods including spares, office equipment and professional equipment, office furniture
and consumables for use in main line of business eligible for import against DFEC.
Individual service providers who had foreign exchange earnings of at least INR 5 lakhs in the
preceding financial year and other service providers who had foreign exchange earnings of at
least INR 10 lakhs in the preceding or current financial year, to be eligible for a duty credit
entitlement of 10 per cent of foreign exchange earned by them in the preceding financial year.
Healthcare and Educational Institutions also eligible for duty credit entitlement.
Requirement of installation certificate from Central Excise Office done away with in case of
imports of movable capital goods by service providers under Export Promotion Capital Goods
(EPCG) Scheme.
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EPCG license can also be used for import of capital goods for supply to specified notified
projects.
Import of second-hand capital goods to be permitted without any age restrictions. Minimum
depreciated value for plant and machinery to be relocated into India reduced from Rs.50 crores to
Rs.25 crores.
All exporters with minimum turnover of Rs.5 crores and good track record to be exempt from
furnishing bank guarantee in any of the schemes.
All goods and services exported, including those from Domestic Tariff Area (DTA) units, to
be exempt from Service Tax (Notification from Finance Ministry is awaited).
Export Oriented Units (EOUs) to be exempted from Service Tax in proportion of export of
goods and services (Notification from Finance Ministry is awaited).
EOUs to be permitted to retain 100 per cent of export earnings in Export Earners Foreign
Currency (EEFC) accounts.
Income Tax benefits on plant and machinery to be extended to DTA units, which convert to
EOU.
Biotechnology Parks to be set up and granted all facilities of 100 per cent EOUs.
Facility of filing digitally signed applications and use of Electronic Fund Transfer Mechanism
for paying application fees made available to exporters.
Agricultural sector does not come under the foreign trade policy for 2004 – 2009.
DEPB (Duty Entitlement Pass Book is an export incentive scheme of Indian Government
provided to Exporters in India. It is a Duty Credit Entitlement issued on Post Export Basis to
neutralise the incidence of Customs duty on the import content of the export product. Under the
DEPB scheme, an exporter may apply for credit, as a specified percentage of FOB value of
exports, made in freely convertible currency.
Notified on 1/4/1997, the DEPB Scheme consisted of:
(a) Post-export DEPB
(b) Pre-export DEPB.
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The pre-export DEPB scheme was abolished w.e.f. 1/4/2000. Under the post-export DEPB,
which is issued after exports, the exporter is given a duty entitlement Pass Book Scheme at a pre-
determined credit on the FOB value. The DEPB rates is allows import of any items except the
items which are otherwise restricted for imports. Items such as Gold Nibs, Gold Pen, Gold
watches etc. though covered under the generic description of writing instruments, components of
writing instruments and watches are thus not eligible for benefit under the DEPB scheme.
The objective of DEPB is to neutralize the incidence of Customs duty on the import content of
the export product. Under the DEPB, an exporter may apply for credit, as a specified percentage
of FOB value of exports, made in freely convertible currency.
TRANSFERABILITY:
The DEPB and/or the items imported against it are freely transferable. The transfer of DEPB
shall however be for import at the port specified in the DEPB, which shall be the port from
where exports have been made. Imports from a port other than the port of export shall be allowed
under TRA facility as per the terms and conditions of the notification issued by Department of
Revenue.
APPLICABILITY OF DRAWBACK:
Normally, the exports made under the DEPB Scheme shall not be entitled for drawback.
However, the additional customs duty/excise duty paid in cash or through debit under DEPB
shall be adjusted as CENVAT Credit or Duty Drawback as per rules framed by the Department
of Revenue.
Payment of customs duty for Export Obligation (EO) shortfall under Advance Authorisation /
DFIA / EPCG Authorisation has been allowed by way of debit of Duty Credit scrips. Earlier the
payment was allowed in cash only.Import of restricted items, as replenishment, shall now be
allowed against transferred DFIAs, in line with the erstwhile DFRC scheme.
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Time limit of 60 days for re-import of exported gems and jewellery items, for participation in
exhibitions has been extended to 90 days in case of USA.
Transit loss claims received from private approved insurance companies in India will now be
allowed for the purpose of EO fulfillment under Export Promotion schemes. At present, the
facility has been limited to public sector general insurance companies only.
An EHTP unit may import and or procure, from DTA or bonded warehouses in DTA /
international exhibition held in India, without payment of duty, all types of goods, including
capital goods, required for its activities, provided they are not prohibited items of import in the
ITC (HS). Goods imported by a unit shall be with actual user condition and shall be utilized for
export production. The EHTP units may import / procure from DTA, without payment of duty,
certain specified goods for creating a central facility.
The EHTP unit shall be a positive net Earnings foreign exchange earner except for sector
specific provision of Appendix 14 -I-C of HBP v1, where a higher value addition shall be
required. NFE earnings shall be calculated cumulatively in blocks of five years, starting from
commencement of production. Whenever a unit is unable to export due to prohibition /
restriction imposed on export of any product mentioned in Letter of Permit, the five year block
period for calculation of NFE earnings may be suitably extended by Board of Approval.
The units manufacturing electronics hardware and software, NFE and DTA sale entitlement shall
be reckoned separately for hardware and software.An EHTP unit may export goods
manufactured / software developed by it through another exporter or any other EHTP unit
subject to conditions
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(i) Reimbursement of Central Sales Tax (CST) on goods manufactured in India..
(ii) Exemption from payment of Central Excise Duty on goods procured from DTA on goods
manufactured in India.
(a) Exemption from Income Tax as per Section 10A and 10B of Income Tax Act.
(c) Units will be allowed to retain 100% of its export earnings in the Exchange Earners’ Foreign
Currency account.
(d) Unit will not be required to furnish bank guarantee at the time of import or going for job
work in DTA subject to provisions.
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4.0 PROMOTIONAL MEASURES
4.1 ASIDE- Assistance to States for Developing Export for Infrastructure and
Allied Activities .
ASIDE provides assistance to the States Governments for creating appropriate infrastructure for
the development and growth of exports. The Scheme is administered by Department of
Commerce (DoC).It also provides export performance linked financial assistance to them. The
specific purposes for which funds allocated under the Scheme can be sanctioned and utilized are
as follows:
• Creation of new Export Promotion Industrial Parks/ Zones (SEZs/Agri Business Zones)
and augmenting facilities in the existing ones.
• Setting up of electronics and other related infrastructure in export conclave.
• Equity participation in infrastructure projects including the setting up of SEZs.
• Development of complementary infrastructure such as, roads connecting the production
centres with the ports, setting up of Inland Container Depots and Container Freight
Stations.
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• Stabilizing power supply through additional transformers and islanding of export
production centre etc.
• Development of minor ports and jetties to serve export purpose.
• Assistance for setting up Common Effluent Treatment facilities and
• Any other activity as may be notified by DoC.
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Under MDA Scheme, financial assistance is provided for a range of export promotion activities
implemented by EPCs and Trade Promotion Organizations on the basis of approved annual
action plans. The scheme is administered by DOC. Assistance includes, amongst others,
participation in:
• Trade Fairs and Buyer Seller meets abroad or in India, and
• Export promotions seminars. Financial assistance with travel grant is available to
exporters traveling to focus areas, viz., Latin America, Africa, CIS region, ASEAN
countries, Australia and New Zealand. In other areas, financial assistance without travel
grant is available.
• MDA assistance is available for exports having an annual export turnover as prescribed
in MDA guidelines.
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4.6.BRAND PROMOTION AND QUALITY
DOC provides funds for capacity building for up-gradation of quality to national level
Institutions and EPCs to organize training programmes for the skill improvement of the exporters
for quality up-gradation, reduction in rejection, product improvement etc. as provided under the
Market Access Initiative (MAI) Scheme of DOC.
5.0 CONCLUSION
This year’s Foreign Trade Policy comes at a challenging time as the entire world is facing an
unprecedented economic slowdown. These are difficult times and we have set an ambitious goal
for ourselves. But if the industry and government work in tandem we will be able to ensure that
the Indian exports become globally competitive and we are able to achieve a target which we
have set for ourselves.
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6.0 REFERENCES
1. http://pib.nic.in/archieve/ForeignTradePolicy/ForeignTradePolicy.pdf
2. http://www.eximpolicy.com/
3. http://exim.indiamart.com/foreign-trade-policy/ftp-04-05-highlights.html
4. http://www.infodriveindia.com/Exim/DGFT/Exim-Policy/2009-2014/default.aspx
5. http://www.wooltexpro.com/docs/Highlights_Foreign_Trade_Policy_2009-2014.pdf
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