Export incentive Schemes under the FTP Are exports still incentivising under the GST regime?
By Ranjeet Mahtani and Suhasini Joshi The Government of India has always endeavoured to encourage and incentivise exports, and it has been an avowed policy to export goods and services and not taxes and duties. The Ministry of Commerce, Government of India has consistently formulated schemes aimed at diversifying Indian exports and creating a stable policy environment- Foreign Trade Policies (FTP). The FTP 2015-20 announced various schemes (some new and others modified existing schemes) as a step towards the Prime Minister’s much touted ‘Make in India’. On June 30th, 2017 the Directorate General of Foreign Trade (DGFT) issued a Trade Notice amending the scope, applicability and procedural aspects of some of the FTP schemes, in view of and to align with the new GST ...
NASSCOM GIC Conclave 2017 redefines the role of modern GICs
Sneha Gilada Global In-house Centres (GIC) are an integral component of the Indian IT industry and contribute significantly to the country's service export revenues. They have also been immensely beneficial to the economy in terms of employment generation. But the broad function of a GIC has changed dramatically in the last three decades, from being purely an operational vehicle delivering cost advantage by way of employing cheap labour; to driving strategic innovation and acting as a brand's window of penetration into new markets. Celebrating the growing role of GICs in a modern day global enterprise, NASSCOM (National Association of Software and Services Companies) organised the 8th edition of its GIC conclave. The two-day event, inaugurated on April 20, was held in the city of Hyderabad, which is one among India's prominent IT hubs. The summit's prime ...
The last FTP scored just pass marks. A 40% target-achievement wont do this time!
Steven Philip Warner | @TheDollarBiz Policies cannot be judged unequivocally by outcomes. Under such ambiguity, let us say that in many-a-case, failure becomes the twin of a noble impulse, and criticism is the outcome of bold decisions at a macro-level. But there is an indicative measuring rod. A number that has a soul to appraise performance vis-a-vis promise. When FTP 2009-14 was released, the-then policymakers had set a target of crossing the $500 billion mark in India’s exports by FY2014. The target therefore called for $315 billion in incremental annual exports. By FY2012, it had become profoundly certain that India’s FTP lacked punch – perhaps some real big incentives in the form of credit scrips or drawbacks ...
