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TMI BlogSPECIAL FOCUS INITIATIVESX X X X Extracts X X X X X X X X Extracts X X X X ..... egies that shall be notified from time to time. Further Sectoral Initiatives in other sectors will also be announced from time to time. (i) Market Diversification During 2008-09 and 2009-10, weaker demand in developed economies, triggered by falling asset prices and increased economic uncertainty had pulled down the growth of India's exports to developed countries. To insulate Indian exports from the decline in demand from developed countries, in this Policy, focus is on diversification of Indian exports to other markets, specially those located in Latin America, Africa, parts of Asia and Oceania. To achieve diversification of Indian exports, following initiatives have been taken under this Policy. (a) 27 new countries have been in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsaction time. (d) To encourage value added manufacture export, a minimum 15% value addition on imported inputs under Advance Authorisation Scheme has been stipulated. (e) A number of products including automobiles and other engineering products have been included for incentives under Focus Product, and Market Linked Focus Product Schemes. (f) Steps to encourage Project Exports shall be taken. (iii) Support to status holders The Government recognized 'Status Holders' contribute approx. 60% of India's goods exports. To incentivise and encourage the status holders, as well as to encourage Technological upgradation of export production, additional duty credit scrip @ 1% of the FOB value of past export shall be granted for specified p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the entitlement. (d) Duty free import entitlement of hand knotted carpet samples is 1% of FOB value of exports during previous financial year. (e) Duty free import of old pieces of hand knotted carpets on consignment basis for re-export after repair is permitted. (f) New towns of export excellence with a threshold limit of Rs 150 crore shall be notified. (g) Machinery and equipment for effluent treatment plants is exempt from customs duty. (vi) Handicrafts (a) Duty free import entitlement of tools, trimmings and embellishments is 5% of FOB value of exports during previous financial year. Entitlement is broad banded, and shall extend also to merchant exporters tied up with supporting manufacturers. (b) Handicraft EPC is auth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Grading re-export by the authorized offices / agencies of Gemological Institute of America (GIA) in India or other approved agencies will be permitted. (f) Personal carriage of Gems Jewellery products in case of holding / participating in overseas exhibitions increased to US$ 5 million and to US$ 1 million in case of export promotion tours. (g) Extension in number of days for re-import of unsold items in case of participation in an exhibition in USA, increased to 90 days. (h) In an endeavour to make India a diamond international trading hub, it is planned to establish "Diamond Bourse(s)". (viii) Leather and Footwear (a) Additional 2% bonus benefits under Focus Product Scheme. (b) Finished Leather exports to be incentivized u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng financial year's export. (c) To allow import of monofilament longline system for tuna fishing at a concessional rate of duty and Bait Fish for tuna fishing at Nil duty. (d) A self removal procedure for clearance of seafood waste is applicable subject to prescribed wastage norms. (e) Marine products are incentivized at special higher rate under VKGUY scheme. (f) Marine sector included for benefits under zero duty EPCG scheme. (x) Electronics and IT Hardware Manufacturing Industries (a) Export of electronic goods to be incentivized under Focus Product Scheme. (b) Expeditious clearance of approvals required from DGFT, shall be ensured. (c) Exporters /Associations would be entitled to utilize MAI MDA Schemes for promoting E ..... X X X X Extracts X X X X X X X X Extracts X X X X
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