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Release of Mid-Tem Review of Foreign Trade Policy 2015-2020 Annual Incentives Increased by 2 percent amounting to over ₹ 8,000 crore for labour intensive/MSME sectors

News and Press Release - Dated:- 6-12-2017 - The Minister of Commerce and Industry, Shri Suresh Prabhu released the much awaited Mid-term Review of the Foreign Trade Policy (FTP) 2015-20 in New Delhi. The review was released in the presence of the Minister of State for Commerce and Industry, Shri CR Chaudhary, Finance Secretary, Shri Hasmukh Adhia, Commerce Secretary, Smt. Rita Teaotia, Secretary Department of Industrial Policy & Promotion, Shri Ramesh Abhishek and the Director General of Fo .....

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t Trade Analytics Division. While share in traditional products and markets will be maintained, the focus will be on new products and new markets. The Commerce Minister focused on transparency and trust with the industry and maintenance of Quality Standards to succeed in the international market. The Minister of State for Commerce stated that the revised FTP will help in making Indian exports more competitive. Under the dynamic and visionary leadership of the Prime Minister the government has ma .....

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at ITC and IGST refunds for exporters are being expedited and explained in detail the process and procedure for refund of IGST claims for exporters. He reiterated that GST will be very beneficial for exporters in the long run. The Ministry of Finance will continue to work in collaboration with the Department of Commerce and exporters to address their operational issues. The Commerce Secretary stated that the FTP will continue with Whole of Government approach involving all Ministries and State G .....

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nge, however, is to address constraints within the country, such as infrastructure bottlenecks, high transaction costs, complex procedures, constraints in manufacturing and inadequate diversification in our services. Towards this end, she stated, the Department of Commerce has set up a new Division to promote integrated and streamlined logistics development in the country. For addressing gap in infrastructure sector, the Trade Infrastructure for Exports Scheme has been launched Highlights of Mid .....

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the board for labour intensive MSME sectors leading to additional annual incentive of ₹ 4,567 crore. This is in addition to the already announced increase in MEIS incentives from 2 percent to 4 percent for Ready-made Garments and Made Ups in the labour intensive Textiles Sector with an additional annual incentive of ₹ 2,743 crore Further, incentives under Services Exports from India Scheme (SEIS) have also been increases by 2% percent leading to additional annual incentive of ₹ .....

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ets of silk, handloom and coir and Jute products · ₹ 1,354 crore for Agriculture and related products, · ₹ 1,140 crore for Services including Hotel & Restaurant, Hospital, Educational services etc. · ₹ 759 crore for Marine products · ₹ 369 crore for Telecom and Electronics Components · ₹ 193 crore for Medical and Surgical Equipment. Further, the validity period of Duty Credit Scrips has been increased from 18 to 24 months and G .....

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ed of Standard Input Output Norms in such cases and this will eliminate delays. It is based on trust. Exporters will self-certify the requirement of duty free raw materials/ inputs. The scheme would initially be available to the Authorized Economic Operators (AEOs) and will get expanded as more exporters join the AEO program. The scheme will improve ease of doing business. Contact@DGFT service has been launched on the DGFT website (www.dgft.gov.in) as a single window contact point for exporters .....

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