Exim Policy: An Assignment Report On
Exim Policy: An Assignment Report On
Exim Policy: An Assignment Report On
Assignment Report
On
EXIM POLICY
Submitted to:
Submitted by:
Mrs. Monika
Ravi Verma
(Lecturer)
MBA 3rd sem
Roll No.-44
Institute of Management Studies
Kurukshetra University, Kurukshetra
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1. Introduction:
For India to become a major player in world trade, an all encompassing, and
have also to facilitate those imports which are required to stimulate our
trade.
Export Import Policy after every five years. EXIM policy, in general, aims at
foreign trade and creating favorable balance of payments position. The current
Exim Policy covers the period 2004-2009. The Export Import Policy (EXIM
Policy) is updated every year on the 31st of March and the modifications,
improvements and new schemes becomes effective from 1st April of every
year.
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2. General Objectives of Exim Policy:
Trade is not an end in itself, but a means to economic growth and national
development. The primary purpose is not the mere earning of foreign
exchange, but the stimulation of greater economic activity.
The Foreign Trade Policy is rooted in this belief and built around two major
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2. To act as an effective instrument of economic growth by giving a thrust
to employment generation.
4. Strategy :
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9. Revitalizing the Board of Trade by redefining its role, giving it due
recognition and inducting experts on Trade Policy.
10. Activating our Embassies as key players in our export strategy and
linking our Commercial Wings abroad through an electronic platform for real
time trade intelligence and enquiry dissemination.
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5. Main Annual Supplement Highlights (2008 – 09):
6. Duty free import of samples has been increased from Rs.75, 000 to Rs.1,
00,000.
8. EOUs shall be allowed to pay excise duty on monthly basis, instead of the
present system of paying duty on consignment basis.
9. Customs duty payable under EPCG Scheme has been reduced from 5% to
3%.
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6. Some Other Highlights of the EXIM Policy:
4. Service Export :
To upgrade infrastructure in the service related companies.
5. Agri Export :
Benefits under ‘Vishesh Krishi Upaj Yojana’ have been extended to
exports of poultry and dairy products in addition to export of flowers, fruits,
vegetables and their value added products.
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The Scope of Advance License for annual requirement has been extended
to all categories of exporters having past export performance.
9. Procedural Simplification :
Proposed to simplify procedures and reduce the documentation
requirements so as to reduce the transaction cost of the exporters and
thereby increase their competitiveness
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7. Implications of the Foreign Trade (2004-09):
2. Implications on Agriculture:
– Special Agricultural Produce Scheme has been introduced for
promoting the export of fruits, vegetables, flowers, and their value
added products.
–
3. Implications on Handlooms and Handicraft:
– Establishment of Handicraft SEZ and Handicraft Export Promotion
Council would promote development of Handloom and Handicraft
Industry
–
4. Implications on Gem and Jewellery Sector :
– This is special thrust area in this policy. Duty free imports of other
inputs would give a further boostto this sector
–
5. Implications on Leather and Footwear Industry :
– Duty free import as a specified percentage of exports. Exemption on customs duty on
equipment for effluent treatment plants would help promoting export form this sector.
–
6. Implications on Service Industry :
An exclusive service promotion council has been set up in order to map
the opportunities for key services in key market.
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8. Negative List of Exports:
The negative list consists of goods, the import or export of which is ether
prohibited, restricted through licensing or otherwise to be canalized through a
designate government agency
.
The negative list of exports, as per the EXIM Policy
2. Restricted Items: which items allowed for exports under special license
issued by the DGFT.
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