Other key highlights of new Foreign Trade Policy 2015-20
The Minister of State for Commerce & Industry (Independent Charge), Nirmala Sitharaman addressing at the release of the “Foreign Trade Policy 2015-2020”, in New Delhi on April, 01, 2015. Source: Press Information BureauOther than the fact that India’s new FTP has brought all the old export incentive schemes under the ambit of two new schemes – MEIS and SEIS – and has made all scrips fully tradable, the following are some of its other highlights • MEIS and SEIS incentives to be provided to units based in SEZs • Lower eligibilities for becoming an export status holder • Reduced Export Obligation (EO) for domestic procurement under EPCG • Infrastructure sharing allowed between EOUs, EHTPs and STPs • EO for export items falling in the category of defence, military store, aerospace and nuclear energy to be 24 months • E-commerce exports incentivised • Visakhapatnam and Bhimavaram in Andhra Pradesh recognised as Towns of Export Excellence • Big expansion in the number of product lines eligible for incentives
This article was published on April 1, 2015.
to success.