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0.92%
1.64%
Indias Foreign Trade Exports & Imports (Figures in US$ billion) Year
2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 (April-Oct09)
% Imports Growth
30.8 23.4 22.5 29.0 13.6 111.52 149.17 185.60 235.9 287.76 146.77
% Growth
42.7 33.8 24.4 27.0 14.3
1 2 3 4 5 6 7 8 9 10
USA United Arab Emirates China Singapore Hong Kong United Kingdom Germany Netherlands Saudi Arabia Belgium
- 12.
Restrictions fall under two Categories Dual Use Items (SCOMET items) Special provision for these items under Weapons of Mass Destruction Act, 2005. General Trading Items - Export Facilitation Committee looks into applications for license for these items.
CENTRAL DUTIES:
CUSTOMS DUTYBasic, Addl customs (CVD including 4% Addl. duty, Education Cess, Antidumping, Safeguard duties etc. EXCISE DUTY--- Basic, Addl Excise duty etc. CENTRAL SALES TAX (CST) SERVICE TAX EXPORT CESS INCOME TAX [Exemption for SEZs ;EOUs (upto 31.3.2011) FBT (Withdrawn)
OTHERS:
ELECTRICITY DUTY, SALES TAX, OCTROI, etc.
GST-- Implications
Advance Authorisation Scheme Duty Free Import Authorisation (DFIA) Scheme Schemes for Gems & Jewellery Sector Export Promotion Capital Goods (EPCG) Scheme Duty Entitlement Pass Book (DEPB) Duty Drawback Scheme Terminal Excise Duty (TED) Refund
Inputs allowed as per Standard Input Output Norms and with Actual User condition Facility available for Physical exports (including supplies to SEZ units & SEZ Developers), deemed exports and Intermediate supplies. Minimum 15% V.A. Time period for import & export
Vishesh Krishi and Gram Udyog Yojana (VKGUY) Focus Market Scheme (FMS) Focus Product Scheme (FPS) Market Linked Focus Product Scheme (MLFPS) Served From India Scheme (SFIS)
To accelerate growth in export of Services to create a powerful and unique Served from India Brand; All service providers (except a few ineligible sectors / services) entitled to duty credit scrips equivalent to 10 % of free foreign exchange earned during the year; Validity Utility Actual User
2008-09 785 SFIS scrips issued for duty credit worth Rs.736 crores.
With an objective to promote investment for upgradation of technology of specified sectors Status Holders shall be entitled to incentive scrip @1% of FOB value of exports in those sectors made during 2009-10 and during 2010-11, in the form of duty credit scrip. Mutually exclusive with EPCG
Export Oriented Units (EOUS), Electronics Hardware Technology Parks (EHTPS), Software Technology Parks (STPS) and Bio-Technology Parks (BTPS)
EOUs are permitted for manufacture of goods including repair, remaking, reconditioning, re-engineering and rendering of services. Trading activity is not permitted. Duty free imports of all inputs. Exemption from Income Tax under Section 10 B (presently extended till 31.3.2011.) Refund of Central Sales Tax (CST) paid on supply of goods from Domestic Tariff Area (DTA) to EOU. 50% of FOB value of exports allowed to be sold in the DTA on payment of concessional duty (50%). EOUs have to be a positive net foreign exchange earner. NFE is to be achieved cumulatively in a block of 5 years.
Supply of goods manufactured by Domestic Units to certain authorisation holders / recognised projects which are otherwise entitled for Duty Free Imports. Purpose is: Import Substitution. Benefits available in the form of: Advance Authorisation / DFIA; Deemed Export Duty Drawback and TED Refund.
Agreement on Subsidies and Countervailing Measures Prohibited subsidies: a) Contingent upon export performance b) Contingent upon the use of domestic over imported goods (Import Substitution Subsidy)--. Exception: Foot note 61 of Annex II to the agreement: Exemption or remission of duty (Indirect tax) on the inputs (which are physically incorporated) or Oil, fuel, energy, catalyst used in the export production permitted.
Agreement recognises the important role of subsidies in economic development of developing countries and transformation of centrally planned economies to market conditions. Least developed countries and developing countries having less than US$ 1000 per capita GNP are exempted from discipline of prohibited subsidies.
--Prohibition not applicable to ANNEX VII countries which includes India provided Export Competitiveness in a product not reached; (Export Competitiveness Export of the product reached a share of at least 3.25% in world trade of that product for two consecutive calendar years Phase out over a period of 8 years) --However export subsidies granted by ANNEX VII countries can be subject to countervailing duty action.
One of the first Government Departments to enable online processing of applications. DGFT website updated on daily basis. All DGFT Offices computerised and networked to the DGFT NIC Server. Applications for Export / Import are made online with digital signature and Electronic Fund Transfer Facility.
Foreign Trade Policy 2009-14 New Initiatives Agriculture Sector To reduce transaction and handling costs, a single window system to facilitate export of perishable agricultural produce has been introduced. The system will involve creation of multi-functional nodal agencies to be accredited by APEDA.
Export House (EH) Star Export House (SEH) Trading House (TH) Star Trading House (STH) Premier Trading House (PTH)
--Status Certificate issuance Export figures (ANF 3A) -- Duty Neutralisation Schemes: App. 23 for Adv Authorisation & DFIA EPCG Scheme ANF 5A to 5D; Append. 26 & 26A Gems & Jewellery Scheme ANF 4 I -- Reward Schemes: Export certification for all schemes -- Turnover cft for Marble import entitlement etc
Impact Assessment
GDP growth figures for India for 2008 is 5.4%; and it has been projected at a higher level of 6.5% for the Year 2009, with due credit to Stimulus Measures announced by the Government of India and the RBI. IIP figures for May, 2009 onwards show that certain industrial sectors like steel, commercial vehicles, cement, two wheelers, intermediate goods etc have started looking up. Rate of decline in export growth is somewhat reducing, which indicates that while the impact of global recession is still continuing on our exports, the stimulus packages have started showing their impact in arresting the steep decline in exports.
References
http://commerce.nic.in http://dgft.gov.in