Foreign Trade Policy

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Foreign Trade Policy (2015 to 2020)

  • Two new schemes announced
    • Merchandise Exports from India Scheme (MEIS)
    • Services Exports from India Scheme(SEIS)
    • MEIS combines five schemes, viz.
    • Focus Product Scheme,
    • Market Linked Focus Product Scheme,
    • Focus Market Scheme,
    • Agri. Infrastructure Incentive Scrip,
    • Vishesh Krishi Gram UdyogYojna (VKGUY),

    Rewarding export of notified goods to notified markets (categorized into 3 groups, viz. Country Group A, B and C) as a percentage of realized FOB value in free foreign exchange.

    SEIS is available to ‘Service Providers located in India’ as against the earlier Served Form India Scheme available to ‘Indian Service Providers’; and SEIS reward rates specified for export of notified services would be based on net foreign exchange earned.

  • FTP 2015-20 divided notified markets in 3 categories:
    • Category A for Traditional Markets (30): European Union (28),USA and Canada;
    • Category B for Emerging & Focus Markets(139): Africa (55), Latin America and Mexico (45),CIS countries (12), Turkey and West Asian countries (13),ASEAN countries (10), Japan, South Korea, China, Taiwan;and
    • Category C for Other Markets (70)
  • All scrips issued under MEIS and SEIS and the goods imported against these scrips would be fully transferable and usable for payment of custom duty, excise duty and service tax
  • The MEIS and SEIS incentive schemes will now be extended to units located in SEZ
  • Higher reward under MEIS for products with high domestic content and more value addition in India
  • For increasing India’s participation in global value chain,FTP 2015-20 introduced 1725 lines of Intermediate Goods,1109 lines of Capital Goods sector (to strengthen Manufacturing Base) and 1730 lines of Consumer Goods sector (sector to propel quantum jump in export with strengthening of ‘Make in India’ Initiative) under this scheme
  • The criteria for export performance for recognition of status holder have been changed from Rupees to US dollar earnings.The nomenclatures of Status Holders were also changed
  • Export Obligation reduced from 90 per cent to 75 per cent for domestic procurement under EPCG scheme to boost the ‘Make in India’ initiative
  • Free Foreign Exchange earned through international credit cards and other instruments, as permitted by RBI shall alsobe taken into account for computing the value of the exports
  • A Committee on Quality Complaints and Trade Disputes(CQCTD) is to be constituted across 22 offices of regional authorities of Directorate General of Foreign Trade (DGFT)