Amendments in the Export and Import Policy, 1997-2002 - 33 (RE-98) 1997-2002 - Foreign Trade Policy

Amendments in the Export and Import Policy, 1997-2002 TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-II, SECTION-3, SUB SECTION (ii) GOVERNMENT OF INDIA MINISTRY OF COMMERCE NOTIFICATION NO.33 (RE-98) 1997-2002 NEW DELHI : 26.11.1998 In exercise of powers conferred by section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.3 of the Export and Import Policy, 1997-2002 (incorporating amendment made upto 13.4.98), the Central Government hereby makes following amendments in the Export and Import Policy, 1997-2002: (incorporating amendment made upto 13.4.98) The following may be added as paragraph 12.12B after paragraph 12.12A Hotels, Travel agents, Tour operators, Tourist transport operators shall be entitled for recognition as Export House/ Trading House/Star Trading House/Super Star Trading House on earning free foreign exchange as per table given below: Category Average free foreign exchange earning during the preceding three licensing years, in Rupees Free foreign exchange earning during the preceding licensing year, in Rupees Average net free foreign exchange earned made during the preceding three licensing years, in Rupees Net free foreign exchange made during the preceding licensing year, in Rupees (1) (2) (3) (4) (5) EXPORT HOUSE 6 crores 9 crores 5 crores 7 crores TRADING HOUSE 30 crores 45 crores 25 crores 35 crores STAR TRADING HOUSE 150 crores 230 crores 125 crores 180 crores SUPER STAR TRADING HOUSE 450 crores 690 crores 370 crores 550 crores Such Export House/Trading House/ Star Trading House/ Super Star Trading House shall be entitled to such benefits as specified in Chapter 12 of the Handbook of Procedures (Vol.1). However, the entitlement of SIL under Chapter 12 shall be calculated on the basis of payments received in free foreign exchange instead of FOB value of exports. This issues in public interest. Sd/- (N.L.Lakhanpal) Director General of Foreign Trade and ex-officio Additional secretary to the Government of India Copy to all concerned: (Ajay Sahai) Jt.Director General of Foreign Trade (F.No. 01/94/180/00301/AM98/PC -IV)