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Announcement: New FDI Policy

News and Press Release - Dated:- 6-12-2017 - Commerce Ministry releases Foreign Trade Policy 2015-2020.New foreign trade policy: $900 bn exports by FY20 the target to double India s exports in goods and services over the next five years (from $465 billion to $900 billion) and upping the Indian share of the world exports pie from the current 2 percent to 3.5 percent over the same period. Exports through Make in India underlined in FTP: Commerce Minister Nirmala Sitharaman. Introduction What does .....

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licy also known as Export Import Policy (EXIM) in general, aims at developing export potential, improving export performance, encouraging foreign trade and creating favorable balance of payments position. Foreign Trade Policy is prepared and announced by the Central Government (Ministry of Commerce). Foreign Trade Policy or EXIM Policy is a set of guidelines and instructions established by the DGFT (Directorate General of Foreign Trade) in matters related to the import and export of goods in Ind .....

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the rise in recent centuries. The Foreign Trade Policy of India is guided by the Export Import in known as in short EXIM Policy of the Indian Government and is regulated by the Foreign Trade Development and Regulation Act, 1992. DGFT (Directorate General of Foreign Trade) is the main governing body in matters related to EXIM Policy. The main objective of the Foreign Trade (Development and Regulation) Act is to provide the development and regulation of foreign trade by facilitating imports into, .....

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vel of economic activities to high level of economic activities 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 comp .....

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#39;s EXIM Policy is to promote exports to the maximum extent. Exports should be promoted in such a manner that the economy of the country is not affected by unregulated exportable items specially needed within the country. Export control is, therefore, exercised in respect of a limited number of items whose supply position demands that their exports should be regulated in the larger interests of the country. Governing Policy - Institutions The Government of India notifies the foreign trade Poli .....

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e Ministry of Finance, the Directorate General of Foreign Trade and network of DGFT Regional Offices. Some Highlights Of The Present Foreign Trade Policy 2015-2020. India to be made a significant participant in world trade by 2020 Commerce Minister announced two new schemes in Foreign Trade Policy 2015-2020Two New Schemes announced in FTP Are MEIS & SEIS. FTP 2015-20 introduces two new schemes, namely Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS) .....

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; SEIS) to be available for SEZs also. FTP benefits from both MEIS & SEIS will be extended to units located in SEZs. - Both MEIS and SEIS firms and service providers can now get subsidized office spaces in SEZ (Special Economic Zones), along with other benefits. With a view to boost the Special Economic Zones, Government has decided to extend both the incentive schemes for export of goods and services to units in SEZs. e-Commerce of handicrafts, handlooms, books etc., eligible for benefits o .....

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ts to be supported across the globe at rates of 3% and 5% under MEIS. Higher level of support to be provided to processed and packaged agricultural and food items under MEIS. Industrial products to be supported in major markets at rates ranging from 2% to 3%. Branding campaigns planned to promote exports in sectors where India has traditional Strength. Business services, hotel and restaurants to get rewards scrips under SEIS at 3% and other specified services at 5%. Duty credit scrips to be free .....

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to One, Two, Three, Four, Five Star Export House. The allocation of the status will now be based on US dollars, instead of Indian Rupees The criteria for export performance for recognition of status holder have been changed from Rupees to US dollar earnings. - A new position called Status Holder have been formulated, which will recognize and reward those entrepreneurs who have helped India to become a major export player. All IT and ITES firms, Outsourcing companies and KPOs can rejoice. Manufac .....

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authorization extended from present 12 months to 24 months. Export obligation period for export items related to defense, military store, aerospace and nuclear energy to be 24 months instead of 18 months Calicut Airport, Kerala and Arakonam ICDS (Inland Container Depots), Tamil Nadu notified as registered ports for import and export. Vishakhapatnam and Bhimavarm added as Towns of Export Excellence. Certificate from independent chartered engineer for redemption of EPCG authorization no longer req .....

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, handicraft, handlooms, toys, textiles, defense and ecommerce platforms would be easier and faster. According to them, a big step is cleaning up the plethora of export promotion schemes and clubbing them under two schemes, one for goods (Merchandise Exports from India Scheme) and one for services (Services Exports from India Scheme). The duty scrips under these schemes come without conditions and can be freely transferred. One significant announcement in the policy is that it will move away fro .....

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