2. Export Import Policy
• Export Import Policy or better known as Exim Policy is a set of guidelines and
instructions related to the import and export of goods. The Government of India
notifies the Exim Policy for a period of five years (1997 2002) under Section 5 of
the Foreign Trade (Development and Regulation Act), 1992. The current policy
covers the period 2002 2007. The Export Import Policy is updated every year on
the 31st of March and the modifications, improvements and new schemes
becames effective from 1st April of every year. All types of changes or
modifications related to the Exim Policy is normally announced by the Union
Minister of Commerce and Industry who coordinates with the Ministry of
Finance, the Directorate General of Foreign Trade and its network of regional
offices.
3. Recent Foreign Trade Policy (2015-2020)
Foreign trade policy 2015-2020 was announced by new NDA government on April 1 2015.
1. Merchandise Export Form Indian Scheme (METS):
Earlier there were 5 different schemes which have been merged into a single scheme
merchandise export form India scheme (MEIS).
2. Service Export from India Scheme (SEIS):
Served from India scheme (SEIS) has been replaced with service export from India scheme
(SEIS).
3. Special economic zones [SEZ]
It is now proposed to extend chapter-3 incentives [METS and SEIS] to units located in
SEZ also.
4. Duty Credit Scrips to freely transferable and usable for payment of custom duty, excise duty and
service Tax.
5. Status Holders
Business leaders who have excelled in international trade and have successfully contributed to
country foreign trade are proposed to be recognized as status holders. So status holders and
given special treatment and privileges to exporters.
4. 6. Boost To ‘’MAKE IN INDIA’’
Reduced Export obligation [EO] for domestic procurement under EPCG
Scheme.
7. Trade Facilitations and Ease of doing Business
An online filing of document / application and paperless trade in 24*7
environments.
8. Online inter-ministerial insulation:
With the objective to reduce the time for approval it is proposed to implement online
inter ministerial consultation in a phased manner.
9. Other New Initiative.
New initiatives for EOUS, EHTP, and STPS. EOUS, EHTPs have been allowed to
share infrastructural facilities among themselves
.
10. Additional ports allowed for Export Import:
Calicut Airport, Kerala, and Arakonam IED, Tamilnadu have been notified as
registered ports for import and export.
5. 11. Facilitating and Encouraging export of Dual are item (SCOMET):
Validity of SCOMET export authorization has been extended from the present 12 months to 24
months.
12. Facilitating and Encouraging Export of Defence Exports.
Export obligation period for the category of defence , military store, aerospace , and authorization
will be 24 months or contracted duration of the exporter whichever is later.
13. E-Commerce Exports:
Good falling in the category of hand loom products, Books, leather footwear , toys and garments
have FOB value to RS25000 under FTP. Such export through foreign port office at New Delhi.
14. Quality Complaints and Trade Disputes:
In an endeavour to resolve quality complaints and trade disputes between exporters and importers.
15. Vishakhapatnam and Bhimavaram added as Towns of Export Excellence.
6. Export Promotion Councils are government-initiated authorities
that promote and support export firms in developing their overseas
trade and presence by providing technical and industry insights.
Additionally, EPCs also promote government schemes, act as a
data store and conduct overseas tours and studies. They also act as
an intermediary between the government and the export industry
and are critical in formulating the foreign policies of the country.
7.
To provide information which is useful for exporters or its members in increasing their
exports, they are supposed to make the exporters aware of the Government Schemes and
other benefits.
Export Promotional Council collects export and import data of its members, as well as
other data which is relevant to International Trade to build a statistical base to compare
industry growth.
They organise Trade Delegations to explore opportunities of exporting products in other
countries.
They offer advice to their members related to Technology, quality control, standards and
specifications etc.
8. On being admitted the member is granted Registration cum
Membership Certificate (RCMC) of the EPC concerned.
For availing export import advantages or concessions in Foreign
Trade Policy.
To meet prospective buyers by participating in events conducted by
EPCs.
To stay updated about latest trends in the respective industry
through the informational events and activities conducted by EPCs
for its members.
