TMI BlogSPECIAL FOCUS INITIATIVESX X X X Extracts X X X X X X X X Extracts X X X X ..... se sectors by specific sectoral strategies that shall be notified from time to time. Further Sectoral Initiatives in other sectors will also be announced from time to time. (i) Market Diversification Weaker demand in developed economies, triggered by falling asset prices and increased economic uncertainty has pulled down the growth of India's exports to developed countries. There are no clear signals as to when the markets in developed countries would revive. 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, specially those located in Latin America, Africa, parts of Asia and Ocenia. To achieve diversification of Indian exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Focus Product Schemes. (e) Steps to encourage Project Exports shall be taken. (iii) Support to status holders The Government recognized 'Status Holders' contribute approx. 60% of India's goods exports. To incentivise and encourage the status holders, as well as to encourage Technological upgradation of export production, additional duty credit scrip @ 1% of the FOB of past export shall be granted for specified product groups including leather, specific sub sectors in engineering, textiles, plastics, handicrafts and jute. This duty credit scrip can be used for import of capital goods by these status holders. The imported capital goods shall be subject to actual user condition. (iv) Agriculture and Village Industry (a) Vi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... up with supporting manufacturers. (b) Handicraft EPC is authorized to import trimmings, embellishments and consumables on behalf of those exporters for whom directly importing may not be viable. (c) Specific funds are earmarked under MAI MDA Schemes for promoting Handicraft exports. (d) CVD is exempted on duty free import of trimmings, embellishments and consumables. (e) New towns of export excellence with a reduced threshold limit of Rs 150 crore shall be notified. (f) Machinery and equipment for effluent treatment plants are exempt from customs duty. (g) All handicraft exports would be treated as special Focus products and entitled to higher incentives. (vii) Gems Jewellery (a) Import of gold of 8k and above ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... free import entitlement of specified items is 3% of FOB value of exports of leather garments during preceding financial year. (b) Duty free entitlement for import of trimmings, embellishments and footwear components for footwear (leather as well as synthetic), gloves, travel bags and handbags is 3% of FOB value of exports of previous financial year. Such entitlement shall also cover packing material, such as printed and non-printed shoeboxes, small cartons made of wood, tin or plastic materials for packing footwear. (c) Machinery and equipment for Effluent Treatment Plants shall be exempt from basic customs duty. (d) Re-export of unsuitable imported materials such as raw hides skins and wet blue leathers is permitted. (e) CVD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceding financial year's export. (b) 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. (c) Applications relating to Sports Goods and Toys shall be considered for fast track clearance by DGFT. (d) Sports Goods and Toys are treated as special focus products and entitled to higher incentives. (xii) Green products and technologies India aims to become a hub for production and export of green products and technologies. To achieve this objective, special initiative will be taken to promote development and manufacture of such products and technologies for exports. To begin with, focus would be on items r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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