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urban and rural areas, and developing a series of ‘Initiatives’ for each
of these sectors.
6. Facilitating technological and infrastructural up gradation of all the
sectors of the Indian economy, especially through imports and thereby
increasing value addition and productivity, while attaining global
standards of quality.
7. Neutralizing inverted duty structures and ensuring that India's
domestic sectors are not disadvantaged in the Free Trade
Agreements / Regional Trade Agreements / Preferential Trade
Agreements that India enters into in order to enhance exports.
8. Up gradation of infrastructural network, both physical and virtual,
related to the entire Foreign Trade chain, to global standards.
9. Revitalizing the Board of Trade by redefining its role, giving it due
recognition and inducting foreign trade experts while drafting Trade
Policy.
This Foreign Trade Policy of India is a stepping stone for the
development of India’s foreign trade. It contains the basic principles and
points the direction in which it propose to go. A trade policy cannot be fully
comprehensive in all its details it would naturally require modification from
time to time with changing dynamics of international trade.
2000-2001 21.01
2001-2002 -01.65
2002-2003 20.34
2003-2004 17.26
Steps considered in latest 2004-2009 foreign trade policy of
India:
1. Agricultural.
2. Handicrafts.
3. Handlooms.
4. Gems and Jewellery.
5. Leather.
6. Textile
Schemes:
1. SEZ Scheme
2. EOU/EHTP/STP/BTP Schemes
3. EPIP Scheme
4. Warehousing Scheme
5. CCP
6. DTA Schemes
Incorporating a legal entity Proprietorship&
In India [ROC] Partnership Concern
Trade Licence
[State Departments]
EXPORTS IMPORTS
Nature of Restriction
ITC [HS] Classification
1. PHYSICAL EXPORT
• Duty free import of Inputs, Fuel, Oil, Energy, Catalyst etc.
• V.A.;AU condition; Norm fixed & No Norm cases; Imports & Exports
valid upto 24 months; Further extn allowed
• Supply to SEZ units also covered.
• E.O. discharge based on S/Bs & BRC (Irrevocable L/C , Provision of
Avalisation, co-acceptance also available)
EPCG Scheme
• Import of capital goods with AU condition at concessional rate of 5%
duty for pre-production, Production & Post production purposes
related to export (Both Physical & deemed);Import of Car.
• E.O. 8 times the duty saved in 8 years; 12 Years.
• E.O. monitoring in two blocks only.
• Special Dispensation for licence with duty saved of Rs 100 crores or
above, Agro units, SSI units, BIFR. E.O. period 12 years and varied
/reduced E.O.
• EPCG license for project import—Reduced E.O.
DFRC SCHEME
SERVICE EXPORTS
3. Imports allowed:
With AU condition
Any CAPITAL GOODS, Office Equipments, Furnitures and
consumables etc
No Agricultural Product except food items and beverages for
the Hotels and Restaurants.
ROADMAP:
This Policy is essentially a roadmap for the development of India’s foreign
trade. It contains the basic principles and points the direction in which we
propose to go. By virtue of its very dynamics, a trade policy cannot be fully
comprehensive in all its details. It would naturally require modification from
time to time. We propose to do this through continuous updating, based on
the inevitable changing dynamics of international trade. It is in partnership
with business and industry that severs the propose to erect milestones on
this roadmap.