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No country is self sufficient hence the countries all over the world have become interdependent. 1/11/13
Exim policy
Export import policy (EXIM) or Foreign Trade Policy is a set of guidelines and instructions established by the DGFT in matters related to the import and export of goods in India. The Foreign TradePolicy of India is guided by the Export Import known as EXIM Policy of the Indian Government and is regulated by the Foreign Trade 1/11/13 Development and Regulation Act,
In the year 1962, the Government of India appointed a special Exim Policy Committee to review the governments previous export import policies. The committee was later on approved by the Government of India. Mr. V. P. Singh, the then Commerce Minister and announced the Exim Policy on the 12th of April, 1985 1/11/13
Objectives Of The Exim Policy : The main objective of the Government's EXIM Policy is to promote exports to the maximum extent. Exports should be promoted in such a manner that the economy of the country is not affected by unregulated exportable items specially needed within the country. To stimulate sustained economic growth by providing access to essential raw 1/11/13 materials, intermediates, components,'
To generate new employment Opportunities To Encourage the attainment of internationally accepted standards of quality. To provide quality consumer products at reasonable prices.
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Governing Body of Exim Policy The Government of India announces the Exim Policy every five years under Section 5 of the Foreign Trade (Development and Regulation Act), 1992 The Exim Policy is updated every year on the 31st of March and the modifications, improvements and new schemes became effective from 1st April of every year.
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Aim in General
Targets:
Export Target : $ 200 Billion for 2010-11 Export Growth Target: 15 % for next two year and 25 % thereafter.
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The following cities have been recognized as towns of export excellence (TEE) Handicrafts : Jaipur, Srinagar and Anantnagar Leather Products : Kanpur,Dewas and Ambur
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Announcements for Duty Gems & Jewellery Drawback is allowed on Gold Sector Jewellery exports to
neutralize duty incidence.
Introduction of a new facility to allow import on consignment basis of cut & polished diamonds for the purpose of grading/ certification.
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Thank you
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