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Highlights of India's new Foreign Trade Policy

Category :India Sub Category :National,Business
2009-08-27 00:00:00
   Views : 657

New Delhi, Aug 27 - Following are the highlights of the new Foreign Trade Policy that was unveiled by Commerce Minister Anand Sharma here Thursday:

-Duty entitlement passbook scheme extended till December 2010

-Extension of sops for export-oriented units till March 2011

-Export target of $200 billion set for 2010-11

-Growth target of 15 percent for next two years, 25 percent thereafter

-Inter-ministerial group to address issues raised by exporters

-Obligation under export promotion capital goods scheme relaxed

-Permission for tax refund scheme for jewellery sector

-No fee on grant of incentives to cut transaction costs

-Steps to help exporters reduce transaction costs

-Plan for diamond bourses in the country

-Single-window scheme for farm exports

-Re-export of unused leather allowed subject to 50 percent duty

-Minimum value addition for tea reduced to 50 percent from 100 percent

-Export units allowed to sell 90 percent of goods in domestic market

-Provision for state-run banks to provide dollar credits

-Twenty-six new markets added to focus market scheme

-Sops under focus market scheme hiked from 2.




Author :Indo Asian News Service



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