TaxTMI 
TaxTMI 
Shri Anand Sharma, Union Minister of Commerce and Industry, while addressing the media here today, has announced a series of new incentives for exporters. These are as follows:
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....hri Anand Sharma, Union Minister of Commerce and Industry, while addressing the media here today, has announced a series of new incentives for exporters. These are as follows: <br>News and Press Release<br>Dated:- 13-1-2010<br><BR>1. New Products under Focus Product Scheme (FPS): 1.1 112 new products added under FPS at 8 digit level, eligible for benefits @ 2% of FOB value of exports to all marke....
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....ts. Major sectors include Engineering, Electronics, Rubber, Chemicals, Plastics, Carton boxes and Egg powder. 1.2 113 new products at 8 digit level given higher benefits @ 5% of FOB value of exports under Special FPS on exports to all markets. Major sectors include Hand Tools, parts of agriculture & horticulture machinery, sewing machines and parts, liquid pumps, nuts, bolts, washers, screws, s....
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....taplers, and parts of machinery for soldering, brazing and welding. 2. New Products and New Markets under Market Linked Focus Product Scheme (MLFPS): 2.1 1837 new products added under MLFPS at 8 digit level, eligible for benefits @ 2% of FOB value of exports to specified markets. Major sectors include Machine Tools, Earth moving equipments, Transmission towers, Electrical and Power Equipments,....
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.... Steel Tubes, pipes and galvanized sheets, Compressors, Iron and Steel Structures, Auto components, Three wheelers and cotton woven fabrics. (Chemicals have been included for providing benefit for a limited period of 6 months). 2.2 Two new major markets viz. China and Japan added under MLFPS. 3. New products under Vishesh Krishi and Gram Udyog Yojana (VKGUY): Sesame seeds and minor coconut prod....
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....ucts added under VKGUY scheme, eligible for benefits @ 5% of FOB value of exports to all markets. 4. New market added under Focus market Scheme (FMS): Timor Leste added as new FMS country, eligible for benefits @ 3% of FOB value of exports of all products. 5. Support under Market Access Initiative (MAI) scheme, for setting up of Warehouse in Latin America by Export Promotion Council for Handicr....
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....afts. 6. Issues taken up with Ministry of Finance ( on which MoF is still to take a final view) 6.1 To allow reduced rate of interest for Dollar credit at LIBOR plus 1% (instead of LIBOR plus 3.5%). 6.2 Continuation of Interest Subvention of 2% provided to labour incentive sectors viz. Textiles (including handlooms), Handicrafts, Carpets, Leather, Gems & Jewellery, Marine products and SMEs. 6.....
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....2 Providing interest subvention of 2% to some additional sectors viz. specified Engineering sectors and Chemicals. 6.3 To request RBI to instruct commercial banks for non-crystallization of overdue export proceeds for a period of 6months from due date (instead of 1 month at present) in respect of two sectors viz. Carpets and handicrafts.<BR> News - Press release - PIB....