Lok Sabha Question No. 1864 (UNSTARRED), answered on 2016-11-28
Subject: Import-Export Policy
Ministry: COMMERCE AND INDUSTRY
Asked by: RAVINDRA VISHWANATH GAIKWAD

## MINISTRY OF COMMERCE & INDUSTRY

## GOVERNMENT OF INDIA (DEPARTMENT OF COMMERCE)

## LOK SABHA UNSTARRED QUESTION NO. 1864(H) TO BE ANSWERED ON 28 th  NOVEMBER, 2016

## IMPORT-EXPORT POLICY

## 1864(H). PROF. RAVINDRA VISHWANATH GAIKWAD:

Will the Minister of COMMERCE & INDUSTRY ( वाͨणÏय एवं उɮयोग मंğी ) be pleased to state:

- (a) whether the Government has enacted new laws governing import/export in the country;
- (b) if so, the details thereof;
- (c) the main features of the import export policy; and
- (d) the steps taken by the Government to promote leather industry?

## ANSWER

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## THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (INDEPENDENT CHARGE) (SMT. NIRMALA SITHARAMAN)

(a)  &  (b):  The  Government announced the new Foreign Trade Policy (FTP) for the period 2015-2020  on  1  April,  2015.  The  FTP  deals  with  regulation  of  Imports  &promotion  of exports; trade facilitation (ease of doing business) &Digital India initiative.

- (c): The main features of the Foreign Trade Policy 2015-20 are:
- i. Imports of goods are subject to domestic Laws/Rule/Regulations/Technical Specifications/Environmental/Safety and Health Standards/Norms.
- ii. On export side, most of the goods are freely exportable. To boost our exports, the new FTP  has carried out rationalization of various export promotion schemes  and simplification of procedures. The Merchandise Exports from India Scheme (MEIS) has been introduced by amalgamating many multiple schemes of the earlier FTP with the objective  to offset  infrastructural  inefficiencies  and  associated  costs  involved  in exporting  goods  from  India  and  to  provide  a  level  playing  field  to  Indian  exporters, especially those having high export intensity and employment potential. The Scheme incentivizes exporters in terms of freely transferable Duty Credit Scrips which can be used to pay Central duties/taxes including customs duties, excise duty and service tax.
- iii. The  Services  Exports  from  India  Scheme  (SEIS)  provides  incentives  to  service providers of notified services on their net forex earnings.
- iv. With  a  view  to  make  our  exports  globally  competitive  by  cutting  down  cost  of production,  two  schemes  are  available:  Export  Promotion  of  Capital  Goods(EPCG) Scheme  for  duty  free  import  of  capital  goods  with  export  obligation  and  Advance Authorisation/Duty Free Imports Authorisation(DFIA) Scheme for duty free import of raw materials, components, spares and consumables.
- v. The Scheme for Deemed Export encourages 'Make in India' initiative by neutralizing the  duty  paid  on  inputs  either  imported  or  domestically  sourced  through  refund  of terminal excise duty and duty drawback at brand rate.

(d): There is no separate export promotion scheme for leather industry. Leather products are also  incentivized  through  the  MEIS  Scheme.  The  facility  of  EPCG  Scheme  &Advance Authorisation/DFIA Scheme are also available to Leather Industry.

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