Exim Policy Of India

EXIM POLICY OF INDIA • • • • • •

Mrinal kr Mondal (147) Bhawna Mallik (154) Shilpi (168) SubhakantaPanda (181) Laxman Agrawal (183) Pravesh Surana (195)

INTRODUCTION • • •

EXIM POLICY is a set of guide lines and instructions established by DGFT in matters related the import and export of goods in India. This policy is regulated by Foreign Trade Development and Regulation Act1992. Governing body Directorate General Of Foreign Trade.

EXIM POLICY DOCUMENT.

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• a) Handbook of Procedures Volume-1 • b)Handbook of Procedures Volumes – 2 • c)ITC(HS) Classification of Export-Import Items •OBJECTIVES OF EXIM POLICY:• to accelerate the economy • to provide excess to essential raw material, intermediate, component • to enhance techno local strength and efficiency of Indian agriculture, industry and services • to generate new employment • to encourage the attainment of internationally accepted standards of quality

EXIMPOLICY(1992-1997) • • • • • • • • •

Govt. of India for the first time introduced The Indian Exim policy on April -1,1992. First time to bring stability and continuity The Exim Policy was made for the duration five years. But The Central Government reserves the right to make any amendments to the trade policy in public interest. This policy was thought to be a major step towards the economic reforms of India.

EXIM POLICY(1997-2007) HIGHLIGHTS OF THE POLICY • This policy was valid for five years instead of three years. •LIBERALISATION • Licensing, quantitative restrictions and other regulatory controls was substantially eliminated. •IMPORT LIBERALISATION • Out of 542 items from the restricted lists 150 items was transferred to Special Import License(SIL) and remaining 392 items have been transferred to Open General license(OGL) List . •EPCG SCHEME • . Duty on imported capital goods reduced from 15% to 10%. •ADVANCED LICENCE SCHEME • Period for export obligation was extended from 12 months to 18 months. •DEPB SCHEME • An exporter may apply for credit as a specified percentage of FOB value of exports made in freely convertible currency. This credit can be utilized for import of raw materials ,intermediates,components,parts,packaging materials etc… •

IMPACT OF EXIM POLICY(1997-2002) GLOBALIZATION OF INDIAN ECONOMY •AGRICULTURE •

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Additional SIL of 1% for export of agro product, allowing EOUs and other units in EPZ in agriculture sectors to 50%of their outputs in the domestic tariff area (DTA) on payment of duty. 100% Foreign Equity participation In the case of 100% EOU, and units set up in EPZ.

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QUALITY UP GRADATION

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ISO 9000 certification has been increased from 2% to 5% of the FOB value of exports. This has encouraged industries for R&D program.

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IMPACT ON SELF RELIANCE • • This policy encouraged domestic sourcing of raw materials in order to build of a strong domestic production based. •

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EXIM POLICY(2002-2007) SPECIAL ECONOMIC ZONES(SEZ) • •EMPLOYMENT ORIENTED • • Agriculture • Cottage Sector and Handy Crafts • Small Scale industry • Leather • Textile • Gems and Jewellery •

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TECHNOLOGY ORIENTED • • Electronic hard ware • Chemical and Pharmaceuticals. •

EXIM POLICY(2004-2009) •

General provisions regarding import and export

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Promotional measures.

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Duty Exemptions/Remissions schemes.

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Export promotion capital goods scheme.

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EOU,EHTPS.

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Special Economic zones.

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Free Trade and Ware housing zones.

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Dimmed exports

CONCLUSION • • • • • • • • • • •

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Export grow significantly. India gains more than 1% of the global export. Manufacturing sector boosted. Service industry flourish and bocome one of the key employer. Increased competitiveness of entire economy. India poised to become a economic super power and a significant player.