EXIM POLICY &

PROCEDURES

-PROF SUDEEP CHATTERJEE

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 EXIM TRADE POLICY
The directions given in the new trade policy was the reduced
controls, simplification of procedures for exports, activation of
trade boards, bilateral discussions with selected countries and
a continuous dialogue with national organisations of Trade and
Industry.
The results of these measures has been a perceptive change
in the trading environment and performance.
The EXIM policy of 1992-97 focused on Liberalisation,
Openness, Transparency, Globalisation, and also provided
incentives through exports promotion schemes and simplified
procedures

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 EXIM POLICY 2002-07
The policy is geared to increase India’s exports through these
initiatives envisaging a compounded Annual Growth rate of
11.9%. The important features are-
Massive thrust on export of services (major thrust areas of
Healthcare, tourism and Professional services.)
Move to facilitate corporate investments to boost Agro
exports and benefit farmers.
Consolidation of Agri Export Zones.
Simultaneous notifications by DGFT (Director General Of
Foreign Trade) & CBEC (Central Board of Excise &
Customs)
EPCG (Exports Promotion Capital Goods) scheme made
more flexible & attractive to enable expansion of
manufacturing base.
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 EXIM POLICY 2002-07
Special focus on potential high growth sectors- Textiles,
Gems and jewellery, Drugs & Pharma, Auto components
among others.
Removal of Restrictions on exports
Incentives for fast growing status holders-
Duty Exemption/Remission Scheme
Export Promotion Capital Goods Scheme
Gem & Jewellery Export Promotion Scheme
EOU schemes
Agro exports
Special Economic Zones
Service Exports

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 EXIM POLICY 2002-07
Codification of SEZ rules to facilitate investments
Development of export Clusters (10 nos)

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Basic Requirements to start an Export
Business
Name and type of Company
A current account with an authorised bank dealing in foreign
exchange.
An IEC (Importer Exporter Code) number granted by the
Regional Licensing Authority
Registration cum Membership Certificate (RCMC) of an
Export Promotion Council (to avail of benefits under EXIM
policy)
Other statutory registration like the shop & establishment
Act, etc.

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