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Highlights of India's new Foreign Trade Policy

business Updated: Aug 27, 2009 13:01 IST

IANS
Highlight Story

Following are the highlights of the new Foreign Trade Policy that was unveiled by Commerce Minister Anand Sharma in New Delhi on Thursday:

-Duty entitlement passbook scheme extended till December 2010

-Extension of sops for export-oriented units till March 2011

-Export target of $200 billion set for 2010-11

-Growth target of 15 per cent for next two years, 25 per cent thereafter

-Inter-ministerial group to address issues raised by exporters

-Obligation under export promotion capital goods scheme relaxed

-Permission for tax refund scheme for jewellery sector

-No fee on grant of incentives to cut transaction costs

-Steps to help exporters reduce transaction costs

-Plan for diamond bourses in the country

-Single-window scheme for farm exports

-Re-export of unused leather allowed subject to 50 per cent duty

-Minimum value addition for tea reduced to 50 per cent from 100 per cent

-Export units allowed to sell 90 per cent of goods in domestic market

-Provision for state-run banks to provide dollar credits

-Twenty-six new markets added to focus market scheme

-Sops under focus market scheme hiked from 2.5 per cent to 3 per cent

-Number of duty-free samples for exporters raised to 50 pieces from 15

-New directorate of trade remedy measures to be set up

-Zero duty under technology upgrade scheme