Highlights of Annual Foreign Trade Policy Review
Following are the highlights of the annual Foreign Trade Policy review:
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Government confident of $200 billion exports this fiscal.
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Zero duty Export Promotion Capital Goods (EPCG) scheme extended by one year to March 31, 2012; more products added.
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Duty Entitlement Passbook (DEPB) scheme extended by six months till June 30, 2011.
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Number of additional products from sectors like leather, engineering, textiles, jute added to 2 per cent interest subvention scheme.
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Additional benefit of 2 per cent bonus for 135 products under Focus Product Scheme.
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One per cent Status Holder Incentive Scheme (SHIS) for technology up-gradation extended till 2011-12; more products added in the scheme.
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Benefits under Market Linked Focus Product Scheme to garment exports to EU extended till March, 2011.
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Barmer (handicrafts), Bhiwandi (textiles) and Agra (leather goods) declared Towns of Export Excellence.
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Steps announced to reduce transaction cost of exports.
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Leather sector allowed to re-export of unsold imported raw hides and skins and semi-finished leather from public bonded warehouses, without export duty.
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List of items allowed for duty-free import of gems and jewellery sector expanded.
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Scrips issued under Served From India Scheme (for services sector) can be used for payment of duty on import of vehicles.
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Instant tea and CSNL Cardinol included for five per cent duty benefit.
