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HIGHLIGHTS OF THE FOREIGN TRADE POLICY 2015-2020

Dated:- 1-4-2015 - Government of India Department of Commerce Ministry of Commerce and Industry A. SIMPLIFICATION & MERGER OF REWARD SCHEMES Export from India Schemes: 1. Merchandise Exports from India Scheme (MEIS) (a) Earlier there were 5 different schemes (Focus Product Scheme, Market Linked Focus Product Scheme, Focus Market Scheme, Agri. Infrastructure Incentive Scrip, VKGUY) for rewarding merchandise exports with different kinds of duty scrips with varying conditions (sector specific o .....

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e payable as percentage of realized FOB value (in free foreign exchange). The debits towards basic customs duty in the transferable reward duty credit scrips would also be allowed adjustment as duty drawback. At present, only the additional duty of customs / excise duty / service tax is allowed adjustment as CENVAT credit or drawback, as per Department of Revenue rules. 2. Service Exports from India Scheme (SEIS) (a) Served From India Scheme (SFIS) has been replaced with Service Exports from Ind .....

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longer be with actual user condition and will no longer be restricted to usage for specified types of goods but be freely transferable and usable for all types of goods and service tax debits on procurement of services / goods. Debits would be eligible for CENVAT credit or drawback. 3. Chapter -3 Incentives (MEIS & SEIS) to be available for SEZs It is now proposed to extend Chapter -3 Incentives (MEIS & SEIS) to units located in SEZs also. 4. Duty credit scrips to be freely transferable .....

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tion. (iii) Payment of service tax on procurement of services as per DoR notification. (c) Basic Customs Duty paid in cash or through debit under Duty Credit Scrip can be taken back as Duty Drawback as per DoR Rules, if inputs so imported are used for exports. 5. Status Holders (a) Business leaders who have excelled in international trade and have successfully contributed to country s foreign trade are proposed to be recognized as Status Holders and given special treatment and privileges to faci .....

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/ FOR (as converted) Value (in US $ million) during current and previous two years One Star Export House 3 Two Star Export House 25 Three Star Export House 100 Four Star Export House 500 Five Star Export House 2000 (d) Approved Exporter Scheme - Self certification by Status Holders Manufacturers who are also Status Holders will be enabled to sel .....

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OI). B. BOOST TO MAKE IN INDIA 6. Reduced Export Obligation (EO) for domestic procurement under EPCG scheme: Specific Export Obligation under EPCG scheme, in case capital goods are procured from indigenous manufacturers, which is currently 90% of the normal export obligation (6 times at the duty saved amount) has been reduced to 75%, in order to promote domestic capital goods manufacturing industry. 7. Higher level of rewards under MEIS for export items with high domestic content and value addit .....

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Accountants/ Company Secretary / Cost Accountant etc. have to be filed in physical forms only. In order to move further towards paperless processing of reward schemes, it has been decided to develop an online procedure to upload digitally signed documents by Chartered Accountant / Company Secretary / Cost Accountant. In the new system, it will be possible to upload online documents like annexure attached to ANF 3B, ANF 3C and ANF 3D, which are at present signed by these signatories and submitted .....

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can be digitally uploaded in the following manner:- (i) Any exporter may upload the scanned copy of Bill of Entry under his digital signature. (ii) Status holders falling in the category of Three Star, Four Star or Five Star Export House may upload scanned copies of documents. 9. Online inter-ministerial consultations: It is proposed to have Online inter-ministerial consultations for approval of export of SCOMET items, Norms fixation, Import Authorisations, Export Authorisation, in a phased man .....

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e EPCG Authorisation holders are required to maintain records for 3 years after redemption of Authorisations. Now the EPCG Authorization Holders shall be required to maintain records for a period of two years only. Government s endeavour is to gradually phase out this requirement as the relevant records such as Shipping Bills, e-BRC are likely to be available in electronic mode which can be archived and retrieved whenever required. (c) Exporter Importer Profile: Facility has been created to uplo .....

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rters to inform them about issuance of authorisations or status of their applications. (e) Online message exchange with CBDT and MCA: It has been decided to have on line message exchange with CBDT for PAN data and with Ministry of Corporate Affairs for CIN and DIN data. This integration would obviate the need for seeking information from IEC holders for subsequent amendments/ updation of data in IEC data base. (e) Communication with Committees of DGFT: For faster and paperless communication with .....

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Customs. (ii) Message exchange for transmission of Bills of Entry (import details) from Customs to DGFT. (iii) Online issuance of Export Obligation Discharge Certificate (EODC). (iv) Message exchange with Ministry of Corporate Affairs for CIN & DIN. (v) Message exchange with CBDT for PAN. (vi) Facility to pay application fee using debit card / credit card. (vii) Open API for submission of IEC application. (viii) Mobile applications for FTP D. Other new Initiatives 12. New initiatives for EOU .....

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discount. This will reduce cost of transportation, other logistic costs and result in maintaining effective supply chain. (c) EOUs have been allowed facility to set up Warehouses near the port of export. This will help in reducing lead time for delivery of goods and will also address the issue of un-predictability of supply orders. (d) STP units, EHTP units, software EOUs have been allowed the facility to use all duty free equipment/goods for training purposes. This will help these units in deve .....

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r. (f) Time period for validity of Letter of Permission (LOP) for EOUs/EHTP/ STPI/BTP Units has been revised for faster implementation and monitoring of projects. Now, LOP will have an initial validity of 2 years to enable the unit to construct the plant and install the machinery. Further extension can be granted by the Development Commissioner up to one year. Extension beyond 3 years of the validity of LOP, can be granted, in case unit has completed 2/3rd of activities, including the constructi .....

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OUs having physical export turnover of ₹ 10 crore and above, have been allowed the facility of fast track clearances of import and domestic procurement. They will be allowed fast tract clearances of goods, for export production, on the basis of pre-authenticated procurement certificate, issued by customs / central excise authorities. They will not have to seek procurement permission for every import consignment. 13. Facilitating & Encouraging Export of dual use items (SCOMET). (a) Vali .....

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conducted at different locations to raise awareness among various stakeholders. 14 Facilitating & Encouraging Export of Defence Exports (a) Normal export obligation period under advance authorization is 18 months. Export obligation period for export items falling in the category of defence, military store, aerospace and nuclear energy shall be 24 months from the date of issue of authorization or co-terminus with contracted duration of the export order, whichever is later. This provision wil .....

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25000 per consignment (finalized using e-Commerce platform) shall be eligible for benefits under FTP. Such goods can be exported in manual mode through Foreign Post Offices at New Delhi, Mumbai and Chennai. (b) Export of such goods under Courier Regulations shall be allowed manually on pilot basis through Airports at Delhi, Mumbai and Chennai as per appropriate amendments in regulations to be made by Department of Revenue. Department of Revenue shall fast track the implementation of EDI mode at .....

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CD, Tamil Nadu have been notified as registered ports for import and export. 18. Duty Free Tariff Preference (DFTP) Scheme India has already extended duty free tariff preference to 33 Least Developed Countries (LDCs) across the globe. This is being notified under FTP. 19. Quality complaints and Trade Disputes (a) In an endeavour to resolve quality complaints and trade disputes, between exporters and importers, a new chapter, namely, Chapter on Quality Complaints and Trade Disputes has been incor .....

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eafood) Annexure-1 I. Merchandise Exports from India Scheme (i) Merchandise Exports from India Scheme has replaced 5 different schemes of earlier FTP (Focus Product Scheme, Market Linked Focus Product Scheme, Focus Market Scheme, Agri. Infrastructure Incentive Scrip, VKGUY) for rewarding merchandise exports which had varying conditions (sector specific or actual user only) attached to their use. (ii) Now all these schemes have been merged into a single scheme, namely Merchandise Export from Indi .....

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gory C: Other Markets (70). B. Products supported under MEIS Level of Support: Higher rewards have been granted for the following category of products: Agricultural and Village industry products, presently covered under VKGUY. Value added and packaged products. Eco-friendly and green products that create wealth out of waste from agricultural and other waste products that generate additional income for the farmers, while improving the environment. Labour intensive Products with large employme .....

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. Includes lines from Fruits, Vegetables, Dairy products, Oils meals, Ayush & Herbal Products, Paper, Paper Board Products. E. Global support has been granted to the following category: Fruits, Flowers, vegetables Tea Coffee, Spices Cereals preparation, shellac, Essential oils Processed foods, Eco Friendly products that add value to waste Marine Products Handloom, Coir, Jute, products and Technical Textiles, Carpets Handmade. Other Textile and Readymade garments have been supported fo .....

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Wood , Paper, Stationary iron, steel, and base metals, products G. Other sectors supported under MEIS 352 Defence related Product with export of US$ 17.7B consisting of Core Products (20), Dual Use products (60) ,General Purpose products (272). 283 Pharmaceutical products of Bulk Drugs & Drug Intermediates, Drug Formulations Biologicals, Herbal, Surgicals, and Vaccines. 96 lines of Environment related Goods, Machinery, Equipment s. 49 lines where mandatory BIS standards are prescribed. .....

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ctor with strengthening of Make in India Brand in near future. I. Technology based analysis: 572 lines-Low skill Technology-intensive manufacturing. 1010 lines-Medium skill Technology-intensive manufacturing. 1309 lines-High Skill Technology-intensive manufacturing. J. Women Centric Products supported under MEIS (a) Women workers constitute 52% of plantation workers-203 lines of Tea Coffee, Spices, Cashew. (b) 69% of the aggregate female employment is concentrated in the following sectors: (i .....

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products. (iii) Consumer Electronics and Electronic Components, watches and clocks -483 lines. Annexure-2 II. Services Exports from India Scheme (i) Served from India Scheme (SFIS) has been replaced with Service Exports from India Scheme (SEIS). SEIS shall apply to Service Providers located in India instead of Indian Service Providers . Thus SEIS provides for rewards to all Service providers of notified services, who are providing services from India, regardless of the constitution or profile of .....

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vices and the rates of rewards would be reviewed after 30.9.2015. Sl No SECTORS Admissible rate 1 BUSINESS SERVICES A Professional services Legal services, Accounting, auditing and bookkeeping services, Taxation services, Architectural services , Engineering services, Integrated engineering services, Urban planning and landscape architectural services, Medical and dental services, Veterinary .....

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equipment 5% D Other business services Advertising services, Market research and public opinion polling services Management consulting service, Services related to management consulting, Technical testing and analysis services, Services incidental to agricultural, hunting and forestry, Services incidental to fishing, Services incidental to mining, Services incidental to manufacturing, Services incidental to energy distribution, Placement and supply service .....

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projection service, Radio and television services, Radio and television transmission services, Sound recording 5% 3 CONSTRUCTION AND RELATED ENGINEERING SERVICES General Construction work for building, General Construction work for Civil Engineering, Installation and assembly work , Building completion and finishing work 5% 4 EDUCATIONAL SERVICES (Please refer Note 1) Primary education services, Secondary educati .....

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