Search Result for : Ftp 2015 20

The Dollar Business Bureau The industry has welcomed the initiatives taken in the mid-term review of Foreign Trade Policy (FTP) – 2015-20, specifically the 2% increase in rates under the Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS), as well as the raising of validity period of duty credit scrips from 18 to 24 months. Welcoming the FTP’s mid-term review, Ganesh Kumar Gupta, President, Federation of Indian Export Organisations (FIEO) said that the 2% increase in the MEIS rates for labour intensive sectors such as leather, carpets, handicrafts, tools, marine, medical & scientific products and services such as accountancy, architecture, legal, education, hotel and restaurant will provide much needed respite to these sectors which are facing huge ...

Deepak Kumar Making a positive amendment in the Services Exports from India Scheme (SEIS), and giving the much needed boost to the exporters, the government on Friday said all payments which have been received in foreign exchange but paid in Indian Rupees (INR) for services rendered to a foreign liner will be treated as receipt in Deemed Foreign Exchange as per the guidelines of Reserve Bank of India. These services are entitled for issuing awards. The latest announcement, made by the Ministry of Commerce and Industry, would be applicable to the services with effect from April 1, 2015. The benefit will also be extended to all the payments procured by a foreign entity for services included in rental of vessels with crew. “Payments which ...

The Dollar Business Bureau In a major bureaucratic reshuffle carried out by the Central Government on Friday, the Director General of Foreign Trade Pravir Kumar has been appointed as Secretary of Interstate Council Secretariat.  Centre has issued transfer order for sixteen IAS officers posted in various departments. A 1982 batch IAS officer of Uttar Pradesh cadre, Kumar served various departments in the Central and State Governments, which include UP Agro Industries Corporation, Ministry of Micro, Small and Medium Enterprises and Development Commissioner of Kandla and Dahej SEZs (2010-12) in Gujarat, under Ministry of Commerce and Industry. As DGFT chief, alongside highlighting government's commitment on ensuring ease of doing business, Pravir Kumar said in many cases that ‘India is passing through a challenging ...

The Dollar Business Bureau   The Government of India is all set to announce its much-awaited Foreign Trade Policy (FTP) 2015-20, on April 1, 2015. The information on unveiling of the FTP 2015-20, was given by the Union Commerce Minister, Nirmala Sitharaman in a Twitter post. The new FTP, which was expected to be announced in 2014 could not take form then, however, governmental initiatives like ‘Make in India’ and ‘Digital India’ have stepped up the need for the new FTP that will facilitate ‘ease of doing business’. The new FTP, is expected to offer sops for the sectors facing weak global demand and also for the sectors exhibiting robust performance at the global level, which includes textiles, electronics ...