ANNOUNCEMENT 01 Apr 2015

On 1 April 2015, the Indian Ministry of Commerce & Industry through Notification No. 01/2015-2020 notified the new Foreign Trade Policy (FTP) 2015-2020 replacing the earlier FTP of 2014-19. The main objectives of the FTP are to increase exports of goods and services, increase value addition in the country and generate employment. Below are listed the major amendments in the new FTP as compared to the old policy. Several schemes have been continued from the old policy to the new and can referred to in the linked policy document. 

NUMBER OF INTERVENTIONS

12

  • 10 harmful
  • 0 neutral
  • 2 liberalising

SOURCE



Foreign Trade Policy (Notification No. 01/2015-2020)
http://dgft.gov.in/exim/2000/ftp2015-20E.pdf

Highlights of the Policy
http://dgft.gov.in/exim/2000/highlight2015.pdf

MEIS Public Notice No. 2/2015-20
http://dgft.gov.in/Exim/2000/PN/PN15/pn0215.pdf

SEIS - Public Notice No. 3/2015-20
http://dgft.gov.in/Exim/2000/PN/PN15/pn0315.pdf

SEIS extension - Public Notice No. 42/2015-20
http://dgft.gov.in/exim/2000/PN/PN15/PN4215.pdf

SEIS extension - Public Notice No. 3/2015-2020
http://dgft.gov.in/Exim/2000/PN/PN17/PN0318.pdf

Inception date: 01 Apr 2015 | Removal date: 30 Mar 2020
Still in force

Export licensing requirement

The authorization certificate for exporting of Special Chemicals, Organisms, Materials, Equipment and Technologies has been extended from 12 months to 24 months

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A
Inception date: 01 Apr 2015 | Removal date: 30 Mar 2020
Still in force

Other export incentive

Two additional towns have been recognized as Towns of Export Excellence Export Oriented Units(EOUs), Electronic Hardware Technology Park (EHTP) and Software Technology Parks (STP) are allowed to share infrastructural faciltiies and transfer of goods and services between them EOUs are allowed set up warehouses near the port of export STPs, EHTP and software EOUs are allowed use of duty free equipment for training of employees EOUs are required to get positive net foreign exchange earnings in 5 years; this time limit can now be extended by a year The validity of permit for construction and setting up of plants for above defined units and parks has been extended

 
N/A
 
N/A
Inception date: 01 Apr 2015 | Removal date: 31 Mar 2020
Still in force

Tax-based export incentive

The new Foreign Trade Policy includes an overhaul of the Indian export incentive system. Effective 1 April 2015, the various export incentive instruments are unified under a single new instrument, the Merchandise Export Incentive Scheme (MEIS). The MEIS simplifies the export incentive system and removes the conditions applied in previous variants.The common feature of the prior incentive schemes was that they came in the form of a "duty scrip". Under these instruments, exporters would earn duty scrip proportional to the FOB value of their exports. Exporters could use said scrip to offset tax expenditures in other areas. The destination countries and products for which such scrip was available depended on the exact program. Under the MEIS, no such conditions apply.

In its original form, notified via Public Notice 2, the MEIS includes more than 4'900 products. The incentive available for each product depends on the export destination. To this end, the world is split into three country groups (A, B and C). Group A includes the European Union members plus the United States. For those destinations, MEIS includes incentives for a total of 3973 products. The HS codes included in this intervention refer to products eligible for export incentives to these countries. Please see the further interventions under this state act for details on the incentives to the other country groups.

 
030199 030229 030242 030244 030289 030323 030333 030339 030341 030342 030343 030353 030354 030357 030369 030389 030445 030449 030489 030499 030559 030571 030572 030579 030611 030612 030614 030616 030617 030619 030621 030624 030626 030627 030749 030759 040719 040721 040729 040811 040891 040899 040900 050100 050800 060120 060290 060311 060319 060490 070190 070200 070310 070320 070390 070490 070700 070810 070890 070930 070960 070993 070999 071010 071021 071022 071040 071080 071140 071220 071231 071239 071290 071339 071430 071490 080111 080119 080131 080132 080211 080232 080280 080290 080310 080390 080450 080510 080550 080590 080610 080620 080711 080720 080810 081090 081190 081290 081340 081350 090111 090112 090121 090190 090210 090220 090230 090240 090411 090421 090422 090510 090619 090811 090812 090831 090921 090922 090931 090932 090961 091011 091012 091030 091091 091099 110313 110520 110610 110630 110710 110812 110819 120740 120799 120810 120890 121120 121190 121299 130190 130219 140490 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(+ 1640 more)
Inception date: 01 Apr 2015 | Removal date: 31 Mar 2020
Still in force

Tax-based export incentive

In its original form, notified via Public Notice 2, the MEIS includes more than 4'900 products. The incentive available for each product depends on the export destination. The destination group B includes 139 countries. For countries in this group, MEIS includes export incentives for a total of 4352 products. The HS codes included in this intervention refer to products eligible for export incentives to these countries. Please see the further interventions under this state act for details on the incentives to the other country groups.

Group B consists of Algeria, Angola, Antigua, Argentina, Armenia, Azerbaijan, Bahamas, Bahrain , Barbados, Belarus, Belize, Benin, Bermuda, Bolivia, Botswana, British Virgin Islands, Brazil, Brunei, Burkina Faso, Burundi, Central African Republic, Cambodia, Cameroon, Canary Island, Cape Verde Island, Cayman Island, Chad, Chile, China PRP, Colombia, Comoros, Congo Democratic Republic, Congo Republic, Costa Rica, Cote D' Ivoire, Cuba, Djibouti, Dominic Rep, Dominica, Ecuador, Egypt , El Salvador, Equatorial Guinea, Ethiopia, Falkland Island, French Guiana, Gabon, Gambia, Georgia, Ghana, Grenada, Guadeloupe, Guatemala, Guinea, Guinea Bissau, Guyana, Haiti, Honduras, Indonesia, Iran, Iraq, Israel, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Korea Republic South Korea , Kuwait, Kyrgyzstan, Lao PDR, Lebanon, Lesotho, Liberia, Libya, Madagascar, Malawi, Malaysia, Mali, Martinique, Mauritania, Mauritius, Mexico, Moldova, Montserrat, Morocco, Mozambique, Myanmar, Namibia, Netherland Antilles, Nicaragua, Niger, Nigeria, Oman, Panama Republic, Paraguay, Peru, Philippines, Qatar, Reunion, Russia, Rwanda, Sao Tome, Saudi Arab, Senegal, Seychelles, Sierra Leone, Singapore, Somalia, South Africa, St Helena, St Kitt N A, St Lucia, St Vincent, Sudan, Suriname, Swaziland, Syria, Taiwan, Tajikistan, Tanzania Republic, Thailand, Togo, Trinidad, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, United Arab Emirates, Uganda, Ukraine, Uruguay, Uzbekistan, Venezuela, Vietnam Socialist Republic, Virgin Island US, Yemen Republic, Zambia, and Zimbabwe.