Export Import policy

Trade policy governs exports from and imports into a country.
Guided by the Export-Import (EXIM) Policy of the Government of India which is Regulated by the Foreign Trade (Development and Regulation) Act, 1992
It contains various policy with respect to imports and exports i.e. export promotional measures, policies and procedures related thereof. Policy was prepared and announced by the Central Government (Ministry of Commerce and Industry) for every 5 years of span.

1. Export-Import Policy in India Presented by HARSHITHA.S and IMRAN PASHA TheYoungIndianEconomists.wordpress.com

2. INTRODUCTION Trade policy governs exports from and imports into a country. Guided by the Export-Import (EXIM) Policy of the government of India Regulated by the Foreign Trade (Development and Regulation) Act, 1992 Contains various policy with respect to imports and exports i.e. export promotional measures, policies and procedures related thereof Prepared and announced by the Central Government (Ministry of Commerce and Industry) for every 5 years of span. TheYoungIndianEconomists.wordpress.com

3. HISTORY Directorate General of Foreign Trade (DGFT) is the main governing body related to Exim Policy. Foreign Trade Act replaced the earlier law known as the “Imports and Exports (Control) Act 1947”. In the year 1962, the Government of India appointed a Special Exim Policy Committee to review the government previous export import policies. The committee was later approved by the Government of India. Mr. V. P. Singh, the then Commerce Minister, announced the Exim Policy on the 12th of April, 1985. Initially the EXIM Policy was introduced for the period of three years. The main objective to boost the export business in India. TheYoungIndianEconomists.wordpress.com

4. OBJECTIVES Sustained growth in exports to attain a share of global trade Providing access to essential raw materials, intermediates, components, consumables and capital goods required for augmenting production and providing services To enhance the technological strength and efficiency of all sectors of the economy To generate new employment . To provide consumers with good quality goods and services at internationally competitive prices Making a market space for domestic produce To accelerate the economy from low level of economic activities to high level of economic activities. TheYoungIndianEconomists.wordpress.com

5. K ey Strategies to achieve these objectives Unshackling of controls Simplifying Procedures Neutralizing Incidence Facilitating development of India Identifying special focus areas Facilitating technological upgradation Avoiding inverted duty structure Upgrading the Infrastructure Revitalizing the Board of Trade Activating Indian Embassies TheYoungIndianEconomists.wordpress.com

6. Exim Policy 1992-1997 Exim Policy 1997-2002 Exim Policy 2002-2007 Exim Policy 2004-2009 Exim Policy(Interim) 2009-2010 Exim Policy 2010-2015 New Exim Policy 2015-2020 TheYoungIndianEconomists.wordpress.com

7. Exim Policy 1992-1997 Liberalize imports and boost exports Bring stability and continuity The Central Government reserves the right to make any amendments to the trade Policy under Section-5 of the Act in the Gazette of India. Export Import Policy  is believed to be an important step towards the economic reforms of India. 542 items have been removed from restricted list Out of which 392 items have been placed on the free list and other 150 items on Special Import License (SIL) list 60 items have been transferred from SIL list to free list. TheYoungIndianEconomists.wordpress.com

8. Exim Policy 1997-2002 The Government of India introduced a New Exim Policy for the year 1997-2002. This policy has further simplified the procedures and reduced the interface between exporters and the Director General of  Foreign Trade (DGFT)  by reducing the number of documents required for export by half. Import has been further liberalized and better efforts have been made to promote Indian exports in international trade. Objectives of the Exim Policy 1997 -2002 To accelerate the economy from low level of economic activities to high level of economic activities To motivate sustained economic and to improve the technological strength To create new employment To give quality consumer products at reasonable prices. TheYoungIndianEconomists.wordpress.com

9. Highlights of the Exim Policy 1997-2002 Liberalization Eliminated licensing, quantitative restrictions and other regulatory and discretionary controls All goods, except those coming under negative list, may be freely imported or exported. Imports Liberalization Of 542 items from the restricted list 150 items have been transferred to Special Import Licence (SIL) list Remaining 392 items have been transferred to Open General Licence (OGL) List. Export Promotion Capital Goods (EPCG) Scheme The duty on imported capital goods under EPCG Scheme   has been reduced from 15% to 10% Under the zero duty EPCG Scheme, the limit has been reduced from Rs. 20 crore to Rs. 5 crore for agricultural and allied Sectors. TheYoungIndianEconomists.wordpress.com

10. Advance Licence Scheme The period for export obligation has been extended from 12 months to 18 months.  A further extension for six months can be given on payment of 1 % of the value of unfulfilled exports. Duty Entitlement Pass Book (DEPB) Scheme An exporter may apply for credit, as a specified percentage of FOB(Free on Board) value of exports, made in freely convertible currency.  Such credit can be can be utilized for import of raw materials, intermediates, components, parts, packaging materials, etc. for export purpose. TheYoungIndianEconomists.wordpress.com

11. Impact of Exim Policy 1997 –2002  Globalization of Indian Economy To accelerate the economy from low level of economic activities to- high level of economic activities by making it a globally oriented vibrant economy and to derive maximum benefits from expanding global market opportunities.  Impact on the Indian Industry To boost India's industrial growth and generate employment opportunities in non-agricultural sector. Reduction of duty from 15% to 10% under EPCG scheme Enables Indian firms to import capital goods Improve quality and productivity of the Indian industry.  Impact on Agriculture Allowing EOU’s  and other units in EPZs in agriculture sectors to 50% of their output in the domestic tariff area (DTA) on payment of duty.  TheYoungIndianEconomists.wordpress.com

12. 4. Impact on Foreign Investment Policy permitted 100% foreign equity participation in the case of 100% Export oriented Unit(EOUs), and units set up in Export Promotion Zones(EPZs). 5. Impact on Quality up gradation It encouraged Indian industries to undertake research and development programmers and upgrade the quality of their products.  6. Impact on Self-Reliance Encouraging domestic sourcing of raw materials, in order to build up a strong domestic production base. New incentives added in the Exim Policy have also added benefits to the exporters. TheYoungIndianEconomists.wordpress.com

13. Exim Policy 2002-2007 It deals with both the export and import of merchandise and services. Exim Policy: 1997 - 2002 had accorded a status of exporter to the business firm and exporting services with effect from 1.04.1991. Such business firms are known as Service Providers. Objectives of the Exim Policy: 2002 – 2007  Augmenting exports of farm goods, the small scale sector, textiles, gems and jewellery, electronic hardware etc. Reduce transaction cost to trade through a number of measures to bring about procedural simplifications. Removal of quantitative restrictions (QRs) on exports, except a few sensitive items. TheYoungIndianEconomists.wordpress.com

14. Highlights of Exim Policy 2002-2007 Employment oriented TECHNOLOGY ORIENTED Procedural Reforms GROWTH ORIENTED

15. Logo of Exim Policy 2004-2009 TheYoungIndianEconomists.wordpress.com

16. Exim Policy 2004-2009 Preamble Legal Framework Board Of Trade Promotional Measures Export Promotion Capital Goods Scheme Export Oriented Units (EOUs) and Special Economic Zones(SEZ) Electronics Hardware Technology Parks (EHTPS) Software Technology Parks (STPs) Bio-Technology Parks (BTPs) Free Trade & Warehousing Zones Deemed Exports TheYoungIndianEconomists.wordpress.com

17. Promotional Measures of Exim Policy 2004-2009 Export Promotion Councils Marine Products Export Development Authority Agricultural & Processed Food Products Export Development Authority Indian Institute of Foreign Trade India Trade Promotion Organization (ITPO) National Centre for Trade Information (NCTI) Export Credit Guarantee Corporation (ECGC) Export-Import Bank Export Inspection Council Indian Council of Arbitration Federation of Indian Export Department of Commercial Intelligence and Statistics Directorate General of Shipping Freight Investigation Bureau TheYoungIndianEconomists.wordpress.com

18. Special Economic Zones Zones Location Export Processing Zones (EPZ) Free Zones (FZ) Industrial Estates (IE) Free Trade Zones (FTZ) Free Ports Urban Enterprise Zones and others Santa Cruz (Maharashtra) Cochin (Kerala) Kandla and Surat (Gujarat) Chennai (Tamil Nadu) Visakhapatnam (Andhra Pradesh) Falta (West Bengal) Noida (Uttar Pradesh) Indore ( Madhya Pradesh ) TheYoungIndianEconomists.wordpress.com

19. STAR EXPORT HOUSES TheYoungIndianEconomists.wordpress.com

20. Exim Policy 2004-2009 Agricultural sector Gems and Jewelers sector Handloom and Handicraft sector Leather and footwear Free Trade and Warehousing Zones(FTWZ) DEPB SCHEME EPCG SCHEME Export Oriented Schemes Board of Trade(BOT) Star Export Houses TheYoungIndianEconomists.wordpress.com

21. Exim Policy 2009-2014 T o arrest and reverse declining trend of exports. Reviewed for two years T o double India's share in global merchandise trade by 2020 S implification of the application procedure for availing various benefits To set in motion the strategies and policy measures which catalyze the growth of exports To encourage exports through a “mix of measures” including fiscal incentives, institutional changes, procedural rationalization E fforts for enhance market access across the world Diversification of export markets Objectives of Exim Policy 2009-2014 TheYoungIndianEconomists.wordpress.com

22. Exim Policy 2009-2014 Additional announcements in the policy Tea Automobile sector Pharmacy Marine Sector Horticulture products Nuclear Ships TheYoungIndianEconomists.wordpress.com

23. Exim Policy 2009-2010 (Interim) Supplement To Foreign Trade Policy 2004-09 for the year 2009-10 was announced by Commerce Minister Kamal Nath on February 26, 2009. 1. Promotional Schemes for Leather, Textile etc. for exports made effective 2. Benefit of 5% under FPS has been notified for export of Handmade carpets 3. Technical textiles and stapling machine have been added under Focus Product Scheme 4. Simplification of DEPB and EPCG schemes 5. Gem & Jewellery Export Promotion Council and Star Trading Houses (for gem and jewellery sector) have been added under the list of nominated agencies for the purpose of import of precious metals. 6. Import restrictions on worked corals have been removed to address the grievance of gem and jewellery exporters. 7. Bhilwara in Rajasthan and Surat in Gujarat have been recognized as Towns of Export Excellence, for textiles and diamonds respectively. 8. Export of blood samples is now permitted without license after obtaining ‘no objection certificate’ from Director General of Health Services (DGHS). 9. Simplified export procedure for issue of Free Sale Certificate. 10. Independent office of DGFT being opened at Srinagar. 11. Krishnapatnam seaport included for the purpose of Export Promotion Scheme. 12. Electronic Message Transfer facility for Advance Authorization and EPCG Scheme established for shipments from EDI ports. Requirement of hard copy of Shipping Bills dispensed with for Export Obligation discharge. TheYoungIndianEconomists.wordpress.com

24. TheYoungIndianEconomists.wordpress.com

25. New Exim Policy 2015-2020 DGFT as a facilitator of exports/imports Niryat Bandhu - Hand Holding Scheme for new export / import entrepreneurs Online Complaint Registration and Monitoring System Exporter Importer Profile Reduction in mandatory documents required for Export and Import Electronic Data Interchange (EDI) Message Exchange with Community partners Customs, Banks, Export Promotion Councils (EPCs) are major community partners of DGFT for message exchange. 24 X 7 Customs clearance Single Window in Customs Self-Assessment of Customs Duty Export of perishable agricultural Products Importer-Exporter Code (IEC) TheYoungIndianEconomists.wordpress.com

26. Conclusion India needs to try diversify the exports But also have a perceptible share in the top items of the world trade As the entire world is unprecedented economic slowdown But if the industry and government work is tandem, we will be able to ensure that the Indian exports become globally competitive and we are able to achieve a target which we have set for ourselves Thus, we can say that India is trying to be more liberal in its foreign trade policy TheYoungIndianEconomists.wordpress.com

27. PRESENTED BY TheYoungIndianEconomists.wordpress.com