1 Sep 2004 |
New Foreign Trade Policy 2004-2009 |
| Procedural Simplification & Rationalization Measures :-````A) All exporters with minimum turnover of Rs. 5 crores and good`` track record will be exempted from furnishing Bank `` Guarantee in any of the schemes, so as to reduce their `` transactional costs.````B) All goods and services exported, including those from DATA`` units, will be exempted from Service Tax.````C) Validity of all licenses/ entitlements issued under various`` schemes has been increased to a uniform 24 months. . |
1 Sep 2004 |
Foreign Trade Policy (2004-2009) |
| A new rationalized scheme of categorization of status holders as Star Export Houses has been introduced as under:````Category Total Performance (Rs..) over three years`` `` One Star Export House 15 crores `` Two Star Export House 100 crores `` Three Star Export House 500 crores `` Four Star Export House 1500 crores `` Five Star Export House 5000 crores . |
1 Sep 2004 |
Comments by Shri Arun Todi on National Foreign Trade Policy 2004-2009 |
| PRESS RELEASE```` FOR THE FAVOUR OF PUBLICATION````PRESS STATEMENT BY SHRI ARUN TODI, PRESIDENT - THE ALL INDIA EXPORTERS’ CHAMBER ON THE NATIONAL FOREIGN ``TRADE POLICY FOR THE YEAR 2004-2005``````Shri Arun Todi, President of The All India Exporters’ Chamber comments on the National Foreign Trade Policy announced by Shri Kamal Nath Minister of Commerce and Industry is as follows:````President Shri Arun Todi welcomed the promise of the Commerce Minister Shri Kamal Nath that the infusion of Transparency and Procedural Simplification which will lead to the reduction of Transaction cost and the effort to neutralise incidence of levies and duties on inputs used for manufacturing goods for export. This will make Indian goods competitive in the world market.````Promise of developing infrastructure is welcome and it should be seriously implemented. ````Need of inducement to the Service Export has been duly recognised by the Commerce Minister.````Agriculture is one of the most important sectors of Indian Economy which is lacking modernization. The new thrust is given to this sector by introducing Vishesh Krishi Upaj Yojana to boost export of fruits, vegetables, flower etc. is welcome. However, infrastructure needed for the development of this sector is to be upgraded making it capable of producing value added products for export.````Extension of Duty Entitlement Pass Book (DEPB) scheme is welcome. In addition to this scheme, the Commerce Minister has retained other Export Promotion Schemes, which is needed for achieving the target of doubling the share of Indian export in the Global Merchandise Trade in the next five years. At present India’s share is only 0.8%. ````On the whole the National Foreign Trade Policy announced for the year 2004-2005 is pragmatic and growth oriented. . |