Highlights of the new Foreign Trade Policy Tuesday, August 31 2004 15:54 Hrs (IST)
New Delhi:
Following are the highlights of the Foreign Trade Policy (FTP) 2004-09.
A massive push to exports to garner 1.5 per cent of the world share by exporting $ 150 billion worth of merchandise annually by 2009.
FDI permitted up to 100 per cent to establish and develop free trade and warehousing zone, each to have Rs 100 crore outlay.
Vishesh Krishi Upaj Scheme to boost exports of fruits, vegetables, flowers and minor forest products.
Duty-free import of capital goods under EPCG scheme for agriculture sector. Such goods permitted to be installed anywhere in an agri-export zone.
Import of seeds, bulbs and tubers liberalised.
New Handicraft Special Economic Zone.
Handicraft Export Promotion Council authorised to import.
Duty-free import of consumables for metals other than gold and platinum upto two per cent of the FoB export value.
Import of gold of 18 carat and above allowed under replenishment scheme.
Duty-free import of specified items for leather sector raised to five per cent of the FoB value for exports.
'Served from India' scheme to accelerate growth in the export of services.
Exporters, who achieve quantum growth, entitled for duty-free credit based on incremental exports higher than general actual target fixed under "Target Plus" scheme.
