Brief introdution on main changes in exim policy and introduction to exim banks

1. EXIM POLICY
AKSHAY PATANE-42

2. EXIM POLICY
• EX-Export IM-import
• It is also known as foreign trade policy
• The Foreign trade of India is guided by the export import policy of Govt
of India.
• Regulated by the foreign trade and regulatory act 1992.
• This policy contains various norms and regulation w.r.t. import and
export from the country.
• It contains general provisions regarding exports and imports,
promotional measures, duty exemption schemes, export promotion
schemes, special economic zones, programs and other details for
different sectors.
• Export and import of specific items is given in the ITC-HS Codes

3. EXIM POLICY-Objective
• The main objective is to accelerate the economy mainly by gaining
foreign exchange.
• To expand the market and make it global.
• To keep control on the export and import.
• To enhance local strength and efficiency ultimately improving global
competition.
• To generate new employment.
• Provide quality product and meet the required standards.
• To provide products at reasonable rate.

4. EXIM POLICY (2015-2020)
• It was released by Minister of Commerce & industry.
• There were merge of various different schemes
1. Focus product schemes
2. Market linked focus product schemes
3. Agriculture infrastructure incentive script
4. VKGUY (Vishesh Krishi and Gram Udyog Yojana)
5. Boost to MAKE IN INDIA
• Trade facilitation and ease of doing business
• Niryat Bandhu Scheme has been dissolved and
repositioned with SKILL INDIA

5. EXIM BANK
• Started operations in 1982 under EXIM Bank of India Act, 1981
• Apex financial institution
• Provide Financial assistance to exporters & importers and always act on
business principles with due regard to public interest
• It act as catalyst and key player in promotion of cross border trade and
investment.
• Over the period it transformed into financial institution and plays an
important role in financing and partnering SME

7. EXIM BANK
• Corporate Banking Group: This group takes care variety of
financing programmes for export oriented units, import and
overseas investment by Indian companies
• Project Finance/Trade Finance: They take care overall export
credit services credit services. They also handles agricultural
sector.
• Export Services Group: They provide services to investment
promotion.
• Export Marketing Group: eg.EPC

8. Niryat Bandhu
DGFT is implementing the Niryat Bandhu Scheme for mentoring
new and potential exporter on the intricacies of foreign trade
through counseling, training andoutreach programmes.
Considering the strategic significance of small and medium scale
enterprises in the manufacturing sector and in employment
generation, ‘MSME clusters’ have been identified, based on the
export potential of the product and the density of industries in the
cluster, for focussed interventions to boost exports.

9. Online Complaint Registrationand
Monitoring System
• An EDI Help Desk is available to assist the exporters infiling online
applications on the DGFT portal and resolving other EDI related
issues. For assistance an email may

10. Issueofe-IEC(Electronic-Importer ExporterCode)
• importer Exporter Code (IEC) is mandatory for
export/import from/to India as detailed in paragraph
2.05 of this Policy. DGFT has recently introduced the facility of
issuing Importer Exporter Code in electronic form (e-IEC). For
issuance of e-IEC an application can be made online on DGFT
website (http//:dgft.gov.in). Applicants can upload the
documents and pay the required fee through Net banking

11. e-BRC(ElectronicBankRealization Certificate)
• It has enabled DGFT to capture details of
realisation ofexport proceeds directly from
the Banks through secured electronic mode.
This has facilitated the implementation of
various export promotion schemes without
any physical interface with the stake holders.

12. ExporterImporterProfile
An electronic procedure has been created to
upload various documents in exporter importer
profile. Once uploaded, there will be no need to
submit these documents / copies of these
documents to Regional Authority repeatedly
with each application

13. • Reductioninmandatorydocuments requiredforExportand
Import
• Self-AssessmentofCustomsDuty
• Prior filing facility for ShippingBills
• ExemptionfromServiceTaxon Servicesreceivedabroad