Explanatory note with respect to EPCG licence - Public Notice No.99 ( RE-2007) 2004-09 dated 08.01.2008

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....08.01.2008. In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2004-09, the D.G.F.T. hereby makes the following explanatory note in respect of P.No. 99/RE-2007 dated 8.01.2008. 1. (a) Company "A" applies for EPCG licence in 2007-08 with previous exports of Rs 10 Crore, 20 Crore and 30 Crore in 2004-05,2005-06 and 2006-07 respectively. While issuing the first licens....

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....(a) Fulfillment of additional exports obligation against the first license shall also subsume " previous export obligation" of the second and subsequent licenses to that extent. For example, if the license holder fulfill an average export of Rs.20 Crore annually and additional export obligation of 8 times of Rs 1 Crore, it will subsume the "previous additional EO" imposed on the second and subsequ....