ANNOUNCEMENT 31 Dec 2012
In December 2012, the government of India announced a change in financial export support.
NUMBER OF INTERVENTIONS
PUBLIC NOTICE No. 42 (RE2012)/2009-14: http://dgft.gov.in/Exim/2000/PN/PN12/pn4212.htm
On 31 December 2012, the Indian Ministry of Commerce and Industry made the following amendments in its export subsidy schemes under the Foreign Trade Policy 2009-14-
The VKGUY scheme provides subsidy for export of forest/agricultural products, while the product and market provide subsidies for exports of specified products or to specified markets or a combination of both.
Incentives of 2% of exports for 3 castor oil products have been removed from the Focus Product Scheme (2 of 3) and the Vishesh Krishi Gram Udyog Yojana (1 of 3).
Incentives were available on the exports of these goods to any country of export.
These schemes were announced under the Foreign Trade Policy 2009-2014 and became invalid under the new FTP 2015-20.
These schemes were announced as part of the Foreign Trade Policy 2009-14 and have been replaced by the Merchandise Exports Incentive Scheme (MEIS) under the FTP 2015-20.
Incentives of 2% for exports of 62 products have been provided under the Market Linked Focus Product Scheme (MLFPS), which incenvtises exports of certain products to specific countries. Of the 62 products, 15 products are provided incentives only on exports to the USA while 36 products have incentives only on exports to the Czech Republic.
These schemes have been replaced by the Merchadise Exports Incentive Scheme under the new Foreign Trade Policy 2015-20.