Press Information Bureau

Government of India

Ministry of Commerce & Industry

22-August-2012 14:47 IST

Under the Special Focus Market Scheme (Special FMS) export to notified countries is eligible for 1% additional duty credit scrip over and above the 3% duty credit scrip allowed under Focus Market Scheme (FMS). Seven new markets namely Belize, Chile, El Salvador, Guatemala, Honduras, Morocco, and Uruguay have been added to the Special Focus Market Scheme on 5th June, 2012 bringing the total number of markets under the scheme to 48.

Exports have increased every year from 2004-05 onwards except 2009-10 when there was a decline. Incentives take time to show effect. Last such incentives were announced on 5th June, 2012.

This information was given by the Minister of State of Commerce and Industry, Shri Jyotiraditya M. Scindia in a written reply in the Rajya Sabha today.

DS/GK

Special Focus Market Scheme grants additional duty credit scrip for exports to notified countries, expanding eligible markets. Under the Special Focus Market Scheme, exports to notified countries receive an additional duty credit scrip supplementing the duty credit available under the Focus Market Scheme. Seven markets - Belize, Chile, El Salvador, Guatemala, Honduras, Morocco, and Uruguay - were added on 5 June 2012, bringing total coverage to forty eight markets and expanding destinations eligible for the additional duty credit benefit.