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25salientfeaturesfromnewForeignTradePolicytopushupIndia'sexportsTheEconomicTimes
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25salientfeaturesfromnewForeign
TradePolicytopushupIndia'sexports
PostaComment

ByECONOMICTIMES.COM|1Apr,2015,06.20PMIST

READMOREONNirmalaSitharaman|NarendraModi|India'sexports|FTP|foreigntradepolicy|Commerce
Minister

NEWDELHI:WithanaimtomakeIndiaa
significantpartneringlobaltradeby2020,
thegovernmentonWednesdayunveileda
newForeignTradePolicy(FTP).
Talkingaboutthenewpolicy,whichaimsat
boostingIndia'sexports,Commerce
MinisterNirmalaSitharamansaidthatPM
NarendraModi'spetprojects,'Makein
India'and'DigitalIndia'willbeintegrated
withthenewForeignTradePolicy.

SPOTLIGHT
CorporateCorner

RELATEDVIDEO

Analysis:ForeignTradePolicy20152020

ThegovernmentispitchingIndiaasa
friendlydestinationformanufacturingand
exportinggoods,andthenewpolicyis
beingseenasanimportantsteptowards
realisingthatgoal.

DefenseBoost

Wetakealookatsomekeyfeaturesofthe
newForeignTradePolicy:
>Indiatobemadeasignificantparticipant
inworldtradeby2020

ThegovtispitchingIndiaasafriendlydestinationfor
manufacturing&exportinggoods,andthenewpolicyisbeing

>MerchandizeexportsfromIndia(MEIS)to
promotespecificservicesforspecific
MarketsForeignTradePolicy
Amulreportsslowestgrowthin USDefenseSecyAshtonCarter

eightyears

tovisitIndiainMay

Amulhasreporteditsslowestgrowthinthe HewouldbemakingtwotripstoAsiasoon
>FTPwouldreduceexportobligationsby
pasteightyearsfor201415duetoafallin toaffirmdefencerelationshipswithallies&
25%andgiveboosttodomestic
globalmilkpricesthatimpactedtherateof builduponkeyinitiativesoftherebalance
revenueincrease.
ITdeptdemandsRs3,500crguarantee
fromNokiatoliftassetsfreeze
Fortis,Suzlon,Tatagroupothersreturn
hometoreshapeambitions

manufacturing

totheregion.

>FTPbenefitsfrombothMEIS&SEISwill

seenasanimportantsteptowardsrealisingthatgoal.

Editor'sPick
India'soilimportslikelytoriseonIran
nucleardeal
Forexkittyscalesnewhighat$341.4billion
View:Irannukedealtoendwestern
sanctions

beextendedtounitslocatedinSEZs

Bondsalesgaintraction,jump30%to
$14.9bn

>FTP201520introducestwonew
schemes,namely"MerchandiseExports

USjobgainsweakestsince2013

http://economictimes.indiatimes.com/news/economy/foreigntrade/25salientfeaturesfromnewforeigntradepolicytopushupindiasexports/articleshow/46

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4/4/2015

25salientfeaturesfromnewForeignTradePolicytopushupIndia'sexportsTheEconomicTimes

fromIndiaScheme(MEIS)"and"Services
ExportsfromIndiaScheme(SEIS)".The
'ServicesExportsfromIndiaScheme'
(SEIS)isforincreasingexportsofnotified
services.Theseschemes(MEISandSEIS)
replacemultipleschemesearlierinplace,
eachwithdifferentconditionsforeligibility
andusage.Incentives(MEIS&SEIS)tobe
availableforSEZsalso.eCommerceof
handicrafts,handlooms,booksetc.,eligible
forbenefitsofMEIS.

POLL
Willthenewforeigntradepolicygiveasignificant
boosttoexports?
Yes

No

Can'tsay

Enterthecode
shown

ETSPECIAL: Lovevisualaspectofnews?Enjoy
thisexclusiveslideshowstreat!

>Agriculturalandvillageindustryproductstobesupportedacrosstheglobeatratesof
3%and5%underMEIS.Higherlevelofsupporttobeprovidedtoprocessedand
packagedagriculturalandfooditemsunderMEIS.
Most
Read

Most
Shared

Most
Commented

>Industrialproductstobesupportedinmajormarketsatratesrangingfrom2%to3%.

Whatcentralgovernmentemployeescanexpect
fromthe7thPayCommission
DilipShanghviovertakesMukeshAmbanias
richestIndian
WasformerCAGVinodRairightonspectrumand
coalauctions?No,hewaswrongonbothcounts
QatarhasbiginvestmentplansforIndia:Sheikh
TamimbinHamadAlThani

>ServedFromIndiaScheme(SFIS)willbereplacedwithServiceExportfromIndia
Scheme(SEIS).
>BrandingcampaignsplannedtopromoteexportsinsectorswhereIndiahastraditional
Strength.

CoalandMiningBills:HowArunJaitley&company
turnedthetablesinRajyaSabha

>SEISshallapplyto'ServiceProviderslocatedinIndia'insteadof'IndianService
Providers'.

NewsinPics

>Businessservices,hotelandrestaurantstogetrewardsscripsunderSEISat3%and
otherspecifiedservicesat5%.

8/20

Sneakpeek:Scania'snewbus
manufacturingfacilityinIndia

>Dutycreditscripstobefreelytransferableandusableforpaymentofcustomsduty,
excisedutyandservicetax.
>DebitsagainstscripswouldbeeligibleforCENVATcreditordrawbackalso.
>NomenclatureofExportHouse,StarExportHouse,TradingHouse,PremierTrading
Housecertificatechangedto1,2,3,4,5StarExportHouse.
>Thecriteriaforexportperformanceforrecognitionofstatusholderhavebeenchanged
fromRupeestoUSdollarearnings.

SlideShows

>Manufacturerswhoarealsostatusholderswillbeenabledtoselfcertifytheir
manufacturedgoodsasoriginatingfromIndia.

10Indiancoupleswhotied
theknot&begantheirown
startup

>ReducedExportObligation(EO)(75%)fordomesticprocurementunderEPCG
scheme.

Manycoupleswhometinschoolor
collegenotjustBschoolsare
takingthelongandinvig...

>OnlineproceduretouploaddigitallysigneddocumentbyChartered
Accountant/CompanySecretary/CostAccountanttobedeveloped.

Mumbaigetsswankier
Bombardiersuburbantrains
Theswankyrakesareanupgraded
versionoftheSiemensrakesthat
wereprocuredundertheMum...

Beautifulimages:Kashmirvalleyexperiences
freshsnowfall

>Interministerialconsultationstobeheldonlineforissueofvariouslicences.
>NoneedtorepeatedlysubmitphysicalcopiesofdocumentsavailableonExporter
ImporterProfile.

http://economictimes.indiatimes.com/news/economy/foreigntrade/25salientfeaturesfromnewforeigntradepolicytopushupindiasexports/articleshow/46

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25salientfeaturesfromnewForeignTradePolicytopushupIndia'sexportsTheEconomicTimes

MostpartsoftheKashmirvalley
receivedfreshsnowfall.

>ValidityperiodofSCOMETexportauthorisationextendedfrompresent12monthsto24
months.

MoreSlideshows

ET PANACHE

>Exportobligationperiodforexportitemsrelatedtodefence,militarystore,aerospace
andnuclearenergytobe24monthsinsteadof18months
>CalicutAirport,KeralaandArakonamICDS,TamilNadunotifiedasregisteredportsfor

6Monetpaintingstobe
auctioned,couldfetchupto
$110million
A1905examplefromMonet's
"WaterLilies"seriesthat'sbeen
inprivatehands...
Francebansultrathinmodels
Agenciesfoundemploying
modelsconsideredtoothincould
beliableforafine...
Aneggadaymaykeep
diabetesaway
ResearchersattheUniversityof
EasternFinlandassessed
dietaryhabitsof2,...
MuslimgirlwinsGitacontest
MariyamAsifSiddiquireceived
thefirstprizeinaninterschool
competition...
Rainasettotietheknotwith
PriyankaChoudhary
Sabyasachioutfitsforcouple,
tundaykebabsonmenuforthe
grandwedding.
AparkthatthreatensTaj
Mahal'ssafety?
Thiscouldprovedangerousfor
thefoundationofthe17th
centurymonumentof...

importandexport.
>VishakhapatnamandBhimavarmaddedasTownsofExportExcellence.
>CertificatefromindependentcharteredengineerforredemptionofEPCGauthorisation
nolongerrequired.

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25salientfeaturesfromnewForeignTradePolicytopushupIndia'sexportsTheEconomicTimes
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