TaxTMI 
TaxTMI 
TaxTMI 
SPECIAL FOCUS INITIATIVES
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....tors by specific sectoral strategies that shall be notified from time to time. Further Sectoral Initiatives in other sectors will also be announced from time to time. (i) Market Diversification Weaker demand in developed economies, triggered by falling asset prices and increased economic uncertainty has pulled down the growth of India's exports to developed countries. There are no clear signals as to when the markets in developed countries would revive. To insulate Indian exports from the decline in demand from developed countries, in this Policy focus is on diversification of Indian exports to other markets, specially those located in Latin America, Africa, parts of Asia and Ocenia. To achieve diversification of Indian exports, follo....
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.... (e) Steps to encourage Project Exports shall be taken. (iii) Support to status holders The Government recognized 'Status Holders' contribute approx. 60% of India's goods exports. To incentivise and encourage the status holders, as well as to encourage Technological upgradation of export production, additional duty credit scrip @ 1% of the FOB of past export shall be granted for specified product groups including leather, specific sub sectors in engineering, textiles, plastics, handicrafts and jute. This duty credit scrip can be used for import of capital goods by these status holders. The imported capital goods shall be subject to actual user condition. (iv) Agriculture and Village Industry (a) Vishesh Krishi and Gram Udyog Yojan....
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.... EPC is authorized to import trimmings, embellishments and consumables on behalf of those exporters for whom directly importing may not be viable. (c) Specific funds are earmarked under MAI & MDA Schemes for promoting Handicraft exports. (d) CVD is exempted on duty free import of trimmings, embellishments and consumables. (e) New towns of export excellence with a reduced threshold limit of Rs 150 crore shall be notified. (f) Machinery and equipment for effluent treatment plants are exempt from customs duty. (g) All handicraft exports would be treated as special Focus products and entitled to higher incentives. (vii) Gems & Jewellery (a) Import of gold of 8k and above is allowed under replenishment scheme subject to import being....
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....e authorized offices/agencies of Gemological Institute of America (GIA) in India or other approved agencies will be permitted. (f) Personal carriage of Gems & Jewellery products in case of holding/participating in overseas exhibitions increased to US$ 5 million and to US$ 1 million in case of export promotion tours. (g) Extension in number of days for re-import of unsold items in case of participation in an exhibition in USA increased to 90 days. (h) In an endeavour to make India a diamond international trading hub, it is planned to establish "Diamond Bourse (s)". (viii) Leather and Footwear (a) Duty free import entitlement of specified items is 3% of FOB value of exports of leather garments during preceding financial year. (b) ....
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....l duty. (d) A self removal procedure for clearance of seafood waste is applicable subject to prescribed wastage norms. (e) Marine products are considered for VKGUY scheme. (x) Electronics and IT Hardware Manufacturing Industries (a) Expeditious clearance of approvals required from DGFT shall be ensured. (b) Exporters /Associations would be entitled to utilize MAI & MDA Schemes for promoting Electronics and IT Hardware Manufacturing industry exports. (xi) Sports Goods and Toys (a) Duty free import of specified specialised inputs allowed to the extent of 3% of FOB value of preceding financial year's export. (b) Sports goods and toys shall be treated as a Priority sector under MDA / MAI Scheme. Specific funds would be earmarked....