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Highlights of India's new Foreign Trade Policy

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

business Updated: Aug 27, 2009 13:01 IST

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