B.Com Ist Year Export Import Policy Of India Long Short Question Answer
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Export-Import Policy of India
Q.31. Discuss main features of the EXIM Policy 2019-14,(Avadh, 2014)
Discuss the present export-import policy How far it is helpful in development of India in-dustries?
Ans. MEANING OF COMMERCIAL POLICY
The new Foreign Trade Policy/Export Import Policy 2009.11. announced on 27th August 2009. This policy was announced at challenging time when entire world was facing severe global recession.
OBJECTIVES OF NEW FOREIGN TRADE POLICY EXIM POLICY NOTES
(1) To arrest and reverse the declining trend of exports. Export target for year 2013-14 has been fixed at US$500 billion.
(2) To provide additional support to sectors which have been badly hit by global recession.
(3) To achieve annual export growth of 15% for first two years, i.e., year 2009-10 and 2010-11; and 25% annual growth in remaining three years, i.e., from year 2011-12 to 2013-14.
(4) Todouble our exports of goods and services by 31st March, 2014.
(5) To use foreign trade as an instrument of economic growth.
(6) To generate more employment by focusing on employment oriented sectors like agriculture, handicrafts, handlooms, leather, etc.
(7) To eliminate controls and to create an atmosphere of trusy in the foreign trade sector.
(8) To simplify the procedures, forms and documents of foreign trade.
(9) To facilitate technological and infrastructural upgrade of all the sectors of our economy by easy import of capital goods and technology.
(10) To set up towns of export excellence in the country.
MAIN FEATURES/PROVISIONS OF NEW FOREIGN TRADE POLICY (2009-14) STUDY NOTES
- Facilities for Agriculture and Village Industry: agriculture has the potential for promoting employment and developing rural areas, so special package has been announced for agriculture sector.
- Vishesh Krishi Upajand Gram Udyog Yojana has been further strengthened to promote exports of agriculture goods, forest based products and gram udyog products.
- The import of capital goods for storage, packaging and transportation of agriculture goods will be liberalised.
- Agri-Export Zones set up in the early EXIM policy will be further strengthened. Various concessions and incentives are provided to these agri-export zones. These zones help to promote export of agriculture products. These zones are provided infrastructure so as to increase agro-exports.
(iv) Import of agriculture inputs such as pesticides, seeds, planting material has been further liberalised.
(v) For agricultural exports the limit of designated Towns of Export Excellence has been reduced to Rs. 150 crore.
(2) Facilities for Handloom and Handicraft Sector:
(i) More funds have been allocated for Market Development Assistance (MDA) and Market Access Initiative (MAI) schemes for promoting exports of handloom and handicrafts.
(ii) The limit of designated Towns of Export Excellence has been reduced from Rs. 250 crore to Rs. 150 crore of exports. In other words, on attaining the export of Rs. 150 crore by any town in a year, it will get the status of Town of Export Excellence and hence will get special assistance from government in the form of better infrastructure, easy import of capital goods and inputs for production.
(3) Special Schemes for Export Promotion : (i) Vishesh Krishi Upaj and Gram Udyog Yojana : This scheme aims at promoting exports of agriculture products, forest based products, gram udyog products and other products as notified from time to time. In this scheme, exporter is allowed duty-free import entitlement equivalent to 5% of his exports. On export of flowers, bruits, vegetables, additional duty credit of 2% of exports is allowed er and above the general rate of 5% under this scheme.
(ii) Focus Market Scheme: This scheme was launched in the arlier EXIM Policy 2004-09. This scheme aims at finding new Lernational markets for Indian goods. In the new EXIM policy, 26 HEW markets have been added under Focus Market Scheme. These include 16 new markets in Latin America and 10 in Asia-Oceania.
The duty credit incentive available under this scheme has hem raised from 2.5% to 3% of total export turnover.
(iii) Focus Product Scheme: It aims at promoting exporteme some specific products. In the new EXIM policy 2009-14, produnt which have high export intensity/employment potential in engineering goods, sewing machines, clocks, watches, plastin products, musical instruments, jute products, handlooms handicrafts, leather goods, etc. are included in this scheme. Duty credit has been raised from 1.25% to 2% of total export turnover. In August 2010, additional bonus of 2% of total export turnover over and above the existing incentive has been announced for export of 256 products.
(iv) Market Linked Focus Product Scheme : It is a combination of Focus Product Scheme and Focus Market Scheme. It is applicable on 153 specific items if these are exported to 13 specific foreign markets. Duty credit of 2% of total export turnover is provided under this scheme.
(v) Served from India: To boost exports of Indian services in the foreign market, a special brand ‘Served from India’ has been promoted world over.
(vi) Duty Entitlement Pass Book Scheme: It provides duty credit for exports in a pass book maintained for this purpose. These duty credits can be utilised for importing raw materials/capital goods and import duty of such imports can be adjusted against the amount of export credits.
(4) Developing Export Infrastructure : For developing export infrastructure, assistance will be provided to state governments. It aims at creating new export promotion industrial parks and promoting facilities in the existing parks/zones. It aims at constructing roads, for linking production cenires with ports, setting up container freight stations, common waste treatment plants, etc.
(5) Market Access Initiatives : Under this schemes, financial assistance is provided for export promotion activities. These activities include conducting market studies/surveys foreign countries, participation in international trade fairs; brane promotion in other countries, assistance for checking dumping, etc.
(6) Export Houses and Trading Houses : Based on expo performance during current year and previous three years take together the expr t houses are categorised as follows:
|Status Category||Total Export Performance (Rs.in crore)|
|Star Export House||100|
|Star Trading House||2,500|
|Premier Trading House||7,500|
Such status bouses are eligible for exemption from furnishing bank gaurante, get fast clearance of exportámport documents, tex concessions, etc.