ANNOUNCEMENT 25 Sep 2013
In September 2013, the government of India announced a change in financial export support.
NUMBER OF INTERVENTIONS
Reuters, September 26, 2013, 'India withdraws export incentives for cotton, yarn': http://in.reuters.com/article/2013/09/26/india-cotton-idINDEE98P08K20130926
DGFT Notification 43 (RE-2013)/2009-2014: http://dgft.gov.in/Exim/2000/NOT/NOT13/not4313.htm
On September 25, 2013, India's Directorate General of Foreign Trade (DGFT) issued Notification 43 (RE-2013), rendering exports of cotton and cotton yarn as well as exports subject to a Minimum Export Price or export duty at any time ineligible for the so-called 'Focus Market Scheme' (FMS) and the Incremental Exports Incentivisation Scheme (IEIS). In declining access to these benefits, the DGFT withdrew export incentives worth about 4% of the Free-on-Board value of exports under FMS and 2% on export growth under IEIS.
The export of cotton yarn was made eligible for IEIS again from January 2014. Further, both FMS and IEIS were either replaced or excluded in the new Foreign Trade Policy that came into effect from 1 April 2015.