Highlights of India’s new Foreign Trade Policy

28-Aug-09

Following are the highlights of the new Foreign Trade Policy that was unveiled by Commerce Minister this week: -Duty entitlement passbook scheme extended till December 2010 -Extension of sops for export-oriented units till March 2011 -Export target of US$200 billion set for 2010-11 -Growth target of 15% for next two years, 25% thereafter -Inter-ministerial group to address issues raised by exporters -Obligation under export promotion capital goods scheme relaxed -No fee on grant of incentives to cut transaction costs -Steps to help exporters reduce transaction costs -Export units allowed to sell 90% of goods in domestic market -Twenty-six new markets added to focus market scheme -Sops under focus market scheme hiked from 2.5 to 3% -Number of duty-free samples for exporters raised to 50 pieces from 15 -New directorate of trade remedy measures to be set up -Zero duty under technology upgrade scheme