INTRODUCTION Exim policy is a set of guide line and instruction established by DGFT in matters related the import and export of goods in India. this policy is regulated by foreign trade development & regulation Act 1992. Gvot.body directorate general of foreign trade
The foreign trade of India is guided by the Export-Import (EXIM) Policy of the government of India arid is regulated by the Foreign Trade (Development and Regulation) Act, 1992. EXIM Policy contains various policy decisions taken by the government in the sphere of foreign trade, i.e., with respect to imports and exports from the country and more especially export promotion measures, policies and procedures related thereto MEANING:-
To accelerate the economy To provide excess to essential raw material intermediate, component. To enhance techno local strength & efficiency of Indian agricultural industry & services. To generate new employment To encourage the attainment of internationally accepted standards of quality OBJECTIVE OF EXIM POLICY
Govt. of India for the first time introduced the Indian exim policy on April1,1992 First time to bring stability & continuity the exim policy was made for the duration 5 years But the central govt reserves the right to make any amendment to the trade policy in public interest. This policy was through to be a major step towards the economic reforms of India EXIM POLICY (1992-1997)
EXIM POLICY (1997-2007) Highlights of the policy: This policy was valid for 5 years instead of 3 years..
Import liberalisation: out of 54 items from the restricted lists 150 items was transferred to special import license (SIL) and remaining 392 items have been transferred to open general license (OGL) list.
EPCG (export promotion capital good’s)scheme- duty on imported capital goods reduced from 15% to 10% Advanced license scheme- period for export obligation was extended from 12 months to 18 months. DEPB (duty entitlement pass book) scheme- An exporter may apply for credit as a specified % of fob value of export made in freely convertible currency . This credit can be utilized for import of raw material , intermediate, components, parts packaging material etc. 5
Globalisation of Indian economy- agricultuare Additional SIL of 1% for export of agro product allowing eov’s and other units in EPZ in agricultural sectors to 50% of their output in the domestic tariff area (DTA) on payment of duty. 100% foreigh equity paticipation in the case of 100% , and units set up in epz 5 IMPACT OF EXIM POLICY (1997-2002)
Special economic zone (SEZ) Employment oriented : agriculture cottage sector & handy crafts small scale industry leather textile game & jewelers EXIM POLICY (2004-2009)
General provisions regarding import & export Promotional measures Duty exemption / remissions schemes Export promotional capital good schemes eon, ethos Special economic zones Free trade & ware housing zones Dimmed exports EXIM POLICY (2004-2009)
Export grow significantly India going more than 1% of the global export Manufacturing sector boosted Service industry flowing & becomes one of the key employer Increased competitiveness of entire economy India poised to become a economic super power & a significant player CONCLUSION