**Policy Summary**
This notification, dated May 8, 2017, issued by the Directorate General of Foreign Trade, Ministry of Commerce and Industry, amends the Foreign Trade Policy (FTP) 2004-2009 concerning the Target Plus Scheme for exports made between April 1, 2005, and March 31, 2006.
The amendment is enacted under Section 5 of the Foreign Trade Development and Regulation Act, 1992, read with Para 1.02 of the Foreign Trade Policy 2015-2020, and responds to the Supreme Court's decision dated October 27, 2015, in CA No. 554 of 2006.
Key changes include:
1. Amendment of Clause 7 of Notification No. 48/RE-2005/2004-2009, dated February 20, 2006, effective from February 20, 2006.
2. Rescission *ab initio* of Notification No. 08/RE-2006/2004-2009, dated June 12, 2006, and Notification No. 20/RE-2006/2004-2009, dated July 13, 2006.
The effect of this notification is to implement the Target Plus Scheme in accordance with the Supreme Court's decision of October 27, 2015.
The notification was issued under F. No. 01/94/180/893/AM08/PC-3/Pt. A by A.K. Bhalla, Director General of Foreign Trade.
Key Entities Referenced
Foreign Trade Development and Regulation Act, 1992: An act that empowers the Central Government to make provisions for the development and regulation of foreign trade.
Foreign Trade Policy, 2015-2020: A policy outlining guidelines and objectives for promoting and regulating India's foreign trade.
Supreme Court: The highest judicial body in India, which made a decision on 27.10.2015 in CA No.554 of 2006 related to the Target Plus Scheme.
Target Plus Scheme: A scheme related to exports, which was amended based on a Supreme Court decision. It provides incentives for exceeding export performance.
Central Government: The governing body of India, responsible for making amendments to the Target Plus Scheme.
Ministry of Commerce and Industry: The ministry responsible for the formulation and implementation of foreign trade policy.
Directorate General of Foreign Trade: The government agency responsible for implementing foreign trade policies and regulations.
A. K. BHALLA: Director General of Foreign Trade
REGD. NO. D. L.-33004/99
EXTRAORDINARY
II— — (ii)
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
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2994 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF COMMERCE AND INDUSTRY
(Department of Commerce)
(DIRECTORATE GENERAL OF FOREIGN TRADE)
NOTIFICATION
New Delhi, the 8th May, 2017
No. 06/2015-2020
S.O. 1448(E).—In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and
Regulation) Act, 1992, as amended, read with Para 1.02 of the Foreign Trade Policy, 2015-2020 and in consequent to the
decision of the Hon’ble Supreme Court dated 27.10.2015 in CA No.554 of 2006 the Central Government hereby makes
the following amendments in the Target Plus Scheme for the exports effected during 01.04.2005 to 31.03.2006, of the
Foreign Trade Policy (FTP) 2004-09 as amended from time to time:
1. The Clause 7 of Notification No.48 (RE 2005)/2004-2009 dated 20.02.2006 is amended to read as below:
“This will take effect for exports from 20.02.2006”
2. The Notification No.08 (RE 2006)/2004-2009 dated 12th June 2006 and Notification No. 20 (RE 2006)/2004-
2009 dated 13th July 2006 are hereby rescinded ab-initio.
Effect of this Notification: The Target Plus Scheme is implemented as per the decision of the Hon’ble Supreme Court
dated 27.10.2015 in CA No.554 of 2006.
[F. No. 01/94/180/893/AM08/PC-3(Pt)]
A. K. BHALLA, Director General of Foreign Trade
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.