Home India Ministry of Commerce and Industry Amendments in Chapter 3 of Foreign Trade Policy 2009-2014....
Date: 2014-02-28 Category: Extra Ordinary State: Union Government Country: India

Amendments in Chapter 3 of Foreign Trade Policy 2009-2014.

Issued by Ministry of Commerce and Industry · Department of Commerce

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Executive Summary & Key Takeaways

Executive Summary: This notification, issued by the Ministry of Commerce and Industry on February 27, 2014, amends the Foreign Trade Policy (FTP) 2009-2014 with immediate effect. The amendment introduces incentives for specific export products/sectors and adds a new table in Appendix 37D for additional benefits. It aims to incentivize exports of products with high export intensity and employment potential to specific markets. Key Points / Main Content: Amendments to Foreign Trade Policy 2009-2014: * Para 3.15.3 is amended to incentivize exports of products/sectors with high export intensity/employment potential not covered under the present FPS list. * Incentive is 2% of FOB value of exports in free foreign exchange under FPS when exported to linked market countries, which are not covered in the present FMS list. * Eligible products will be listed in Table 2 or Table 3 of Appendix 37D of HBPv1 for exports made from August 27, 2009, onwards, unless otherwise specified. * Para 3.15.4 is inserted, stating that incentives for products listed in Table 3 will be in addition to any benefits under Table 1 or Table 2 of Appendix 37D. Effect of Notification: * A new Table 3 has been added to Appendix 37D, providing additional benefits. Impact Analysis: Exporters: * Impact: Opportunity to receive incentives for exports of specific products/sectors to linked markets. * Action Required: Review Appendix 37D (including the new Table 3) to identify eligible products and markets. Government Agencies (e.g., Directorate General of Foreign Trade): * Impact: Implementation and monitoring of the amended policy. * Action Required: Update relevant procedures and guidelines to reflect the changes in the FTP 2009-2014.

Key Entities Referenced

Foreign Trade Policy 2009-2014: A policy document related to foreign trade. Foreign Trade Development and Regulation Act, 1992: An act related to the development and regulation of foreign trade. Ministry of Commerce and Industry: The Indian government ministry responsible for foreign trade and commerce. Market Linked Focus Products Scrip: An export incentive scheme (MLFPS). New Delhi: The location of publication and government office. New Delhi, Delhi Appendix 37D: An appendix to the Handbook of Procedures, related to export incentives and product listings. Director General of Foreign Trade: A position in the Ministry of Commerce and Industry. ANUP K. PUJARI: Director General of Foreign Trade
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