Final Export Import

8/14/2019 Final Export Import

1/9

Evolution of ExportEvolution of E

xportImport PolicyIm

port Policy :-:-


2/9

Introduction:-Introduction:-

Trade policy governors exports for and imports into aTrade policy governors exports for and imports into acountry. It is one of the various policy instrumentcountry. It is one of the various policy instrument

used by a country to attended goal of economicused by a country to attended goal of economic

development.development.

The trade policy of export import is formulated by theThe trade policy of export import is formulated by theMinistry of Commerce and Government of India inMinistry of Commerce and Government of India in

terms of section 5 of Foreign Trade Act, 1992.terms of section 5 of Foreign Trade Act, 1992.

Besides the Government of India also announced onBesides the Government of India also announced onJanuary 30,2002 a Medium Term Export strategy, toJanuary 30,2002 a Medium Term Export strategy, to

guide the Export Import Policy.guide the Export Import Policy.


3/9

Meaning:-Meanin

g:-

The foreign trade of India is guide by the Export ImportThe foreign trade of India is guide by the Export ImportPolicy of Government of India arid is regulated by thePolicy of Government of India arid is regulated by the

foreign trade Act 1992.foreign trade Act 1992.

EXIM Policy contains various policy decision taken byEXIM Policy contains various policy decision taken by

Government in the spheres of foreign trade i. e withGovernment in the spheres of foreign trade i. e withrespect to Export and Import of the Country and morerespect to Export and Import of the Country and more

export promotion measure policy and procedure relatedexport promotion measure policy and procedure related

thereto.thereto.

India EXIM Policy, in general, aims at developing exportIndia EXIM Policy, in general, aims at developing export

potential, improving export performance, encouragingpotential, improving export performance, encouraging

foreign trade and creating favorable balance offoreign trade and creating favorable balance of

position.position.


4/9

General objective of EXIMGeneral ob

jective of EXIM

policy:-

policy:-

There are two aspect of the trade policy, import policyThere are two aspect of the trade policy, import policy

which concerned management and regulation importwhich concerned management and regulation import

and export policy, which is concerned with export notand export policy, which is concerned with export not

only promotion but also regulation.only promotion but also regulation.

The main objective of EXIM policy is promote export toThe main objective of EXIM policy is promote export tothe maximum extent.the maximum extent.

Promoting Export and foreign exchange earning.Promoting Export and foreign exchange earning.

Regulating export wherever it necessary for theRegulating export wherever it necessary for thepurpose of either avoiding competition among thepurpose of either avoiding competition among the

Indian exporters or ensuring domestic availability ofIndian exporters or ensuring domestic availability of

essential items of mass consumption at reasonableessential items of mass consumption at reasonable

prices.prices.


5/9

EXIM policy 2002-07.EXIM

policy 2002-07.

Agriculture:-

Agriculture:- Agriculture removal of quantitative and packingAgriculture removal of quantitative and packing

restriction on wheat and its product.restriction on wheat and its product.

It is estimated by some economists that every one perIt is estimated by some economists that every one per

cent switch in the terms of trade in favor of agriculturecent switch in the terms of trade in favor of agriculture

will result in diversion of about Rs.8,500 croreswill result in diversion of about Rs.8,500 crores

annually in favor of agriculture from the non-annually in favor of agriculture from the non-agriculture sector.agriculture sector.

According to the International Grain Council reports, inAccording to the International Grain Council reports, in

respect of wheat export, we are at the 7th positionrespect of wheat export, we are at the 7th position

amongst the wheat exporting countries.amongst the wheat exporting countries.

Gems & JewelleryGems & Jewelle

ry:-:- Customs duty on import of rough diamonds is beingCustoms duty on import of rough diamonds is being

reduced to zero per cent. Import of rough diamonds isreduced to zero per cent. Import of rough diamonds is

already freely allowed.already freely allowed.


6/9

Leather:-Leather:-

Duty free imports of trimmings and embellishments uptoDuty free imports of trimmings and embellishments upto3% of the FOB value hitherto confined to leather garments3% of the FOB value hitherto confined to leather garmentsextended to all leather products.extended to all leather products.

EXIM Policy 2009-2014:-EXIM Polic

y 2009-2014:- In the last five years our exports witnessed robust growthIn the last five years our exports witnessed robust growth

to reach a level of US$ 168 billion in 2008-09 from US$ 63to reach a level of US$ 168 billion in 2008-09 from US$ 63billion in 2003-04. Our share of global merchandise tradebillion in 2003-04. Our share of global merchandise tradewas 0.83% in 2003; it rose to 1.45% in 2008 as per WTOwas 0.83% in 2003; it rose to 1.45% in 2008 as per WTO

estimates.estimates.

Our share of global commercial services export was 1.4%Our share of global commercial services export was 1.4%in 2003; it rose to 2.8% in 2008. Indias total share in goodsin 2003; it rose to 2.8% in 2008. Indias total share in goodsand services trade was 0.92% in 2003; it increased toand services trade was 0.92% in 2003; it increased to1.64% in 2008.1.64% in 2008.

On the employment front, studies have suggested thatOn the employment front, studies have suggested thatnearly 14 million jobs were created directly or indirectly asnearly 14 million jobs were created directly or indirectly asa result of augmented exports in the last five years.a result of augmented exports in the last five years.


7/9

We would like to set a policy objective of achieving anWe would like to set a policy objective of achieving an

annual export growth of 15% with an annual export targetannual export growth of 15% with an annual export target

of US$ 200 billion by March 2011.of US$ 200 billion by March 2011.

In the remaining three years of this Foreign Trade PolicyIn the remaining three years of this Foreign Trade Policyi.e. up to 2014, the country should be able to come backi.e. up to 2014, the country should be able to come back

on the high export growth path of around 25% peron the high export growth path of around 25% per

annum.annum.


8/9

Highlights of the New Foreign TradeHighlights of the New Foreign Trade

Policy 2009-2014Policy 2009-2014:-:-

Higher support for market and productHigher support for market and product

diversification.diversification.

Technological up gradation.Technological up gradation.

EPCG scheme relaxation.EPCG scheme relaxation.

Status holders.Status holders.

Stability/continuity of the foreign trade policy.Stability/continuity of the foreign trade policy.

Marine sector.Marine sector.

Agriculture sector.Agriculture sector.


9/9

THANK YOUTHANK YOU

Documents

Final Export Import