Sector wise highlights of foreign trade policy 2009-2014

Marine sector
Fisheries have been included in the sectors which are exempted from maintenance of average EO under EPCG Scheme, subject to the condition that Fishing Trawlers, boats, ships and other similar items shall not be allowed to be imported under this provision. This would provide a fillip to the marine sector which has been affected by the present downturn in exports.

Additional flexibility under Target Plus Scheme (TPS) /Duty Free Certificate of Entitlement (DFCE) Scheme for Status Holders has been given to Marine sector.

Gems & Jewellery Sector

To neutralize duty incidence on gold Jewellery exports, it has now been decided to allow Duty Drawback on such exports.

In an endeavour to make India a diamond international trading hub, it is planned to establish “Diamond Bourse(s)”.

A new facility to allow import on consignment basis of cut & polished diamonds for the purpose of grading/certification purposes has been introduced.

To promote export of Gems & Jewellery products, the value limits of personal carriage have been increased from US$ 2 million to US$ 5 million in case of participation
in overseas exhibitions. The limit in case of personal carriage, as samples, for export promotion tours, has also been increased from US$ 0.1 million to US$ 1 million.

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.

Leather Sector

Leather sector shall be allowed re-export of unsold imported raw hides and skins and semi finished leather from public bonded ware houses, subject to payment of 50% of the applicable export duty.

Enhancement of FPS rate to 2%, would also significantly benefit the leather sector.

Tea

Minimum value addition under advance authorisation scheme for export of tea has been reduced from the existing 100% to 50%.

DTA sale limit of instant tea by EOU units has been increased from the existing 30% to 50%.

Export of tea has been covered under VKGUY Scheme benefits.

Pharmaceutical Sector
Export Obligation Period for advance authorizations issued with 6-APA as input has been increased from the existing 6 months to 36 months, as is available for other
products.

Pharma sector extensively covered under MLFPS for countries in Africa and Latin America; some countries in Oceania and Far East.

Handloom Sector
To simplify claims under FPS, requirement of ‘Handloom Mark’ for availing benefits under FPS has been removed.