EXIM POLICIES

Presentation By: Sobiya Afshan Avinash Farzana Mahanaz Joswin

EXIM-Export Import Policy

Also known as the Foreign Trade Policy Every year, on the 31st of March the government announces a supplement to this policy Announced every five years General provisions regarding exports and imports, promotional measures, duty exemption schemes, export promotion schemes, special economic zone programs and other details for different sectors

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Trade policy governs exports from and imports into a country It is one of the various policy instruments used by a country to attain the goals of economic development DGFT (Directorate General of Foreign Trade) in matters related to the import and export of goods in India

History
In the year 1962, the Government of India appointed a special EXIM Policy Committee to review the Government previous export import policies The committee was later on approved by the Government of India Mr. V .P. Singh, the Commerce Minister announced the EXIM Policy on the 12th April, 1985

Objective
To accelerate the economy by making it a globally oriented vibrant economy and to derive maximum benefits from expanding global market opportunities To stimulate sustained economic growth by providing access to essential raw materials, intermediates, components,' consumables and capital goods required for augmenting production To enhance the techno local strength and efficiency of Indian agriculture, industry and services, thereby, improving their competitiveness

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To generate new employment opportunities and encourage the attainment of internationally accepted standards of quality To provide quality consumer products at reasonable prices

EXIM Policy Documents

The EXIM Policy of India has been described in the following documents: Interim New EXIM Policy 2009 - 2010 EXIM Policy: 2004- 2009 Handbook of Procedures Volume I Handbook of Procedures Volume II ITC(HS) Classification of Export- Import Items

EXIM Policy or Foreign Trade Policy 2009 - 2014 Highlights

100% export oriented units for one additional year till 31st March 2011 The Government seeks to promote Brand India through six or more Made in India shows to be organized across the world every year 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

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Incentive available under Focus Market Scheme (FMS) has been raised from 2.5%-3% Incentive available under Focus Product Scheme(FPS) has been raised from 1.25%-2% Income Tax exemption to 100% EOUs under Section 10B and 10A of Income Tax Act, has been extended for the financial year 2010-11 in the Budget 2009-10

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Tea Sector Minimum value addition under advance authorisation scheme for export of tea has been reduced from the existing 100%-50% 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 Duty Free Import of samples by exporters, number of samples/pieces has been increased from the existing 15-50