No. No.CLE-HO/POL/DGFT/14-15 APRIL 2, 2015
Members of the Council
Sub: Foreign Trade Policy 2015-2020- APRIL 2, 2015
The Hon’ble Minister for Commerce and Industry announced the new Foreign Trade Policy for the period 2015-20 on April 1, 2015. The new Policy came into effect from April 1, 2015.
As far as the leather sector is concerned, the following two major aspects are to be noted.
a)Merchandise Exports from India Scheme (MEIS) : Schemes notified under Foreign Trade Policy like Focus Product Scheme (product-specific), Focus Market Scheme (country-specific) and Market Linked Focus Product Scheme merged into one scheme namely Merchandise Exports from India Scheme (MEIS). This MEIS scheme is a country-specific , product-specific scheme. As far as leather sector is concerned, this scheme broadly provides the following incentives.
b)EPCG : The Zero Duty EPCG scheme is continuing but second hand Capital Goods cannot be imported under this scheme. Also, the condition of maintaining average level of exports achieved by the applicant in the preceding three licensing years for the same and similar products within the overall EO period including extended period stays. However, domestic procurement of capital goods will entail reduction in export obligation by 25%.
The detailed highlights are enclosed herewith wherein the details of eligible countries under MEIS are also given. The details of eligible products under MEIS are separately enclosed as attachment.
The following documents are hosted in the website of DGFT www.dgft.gov.in which members may refer.
– Foreign Trade Policy 2015-20
– Handbook or Procedures 2015-20
– Foreign Trade Policy highlights
– Foreign Trade Policy Statement
– Application Forms and Appendices
– MEIS rate for a product based on HS Code.
R Ramesh Kumar, IAS
COUNCIL FOR LEATHER EXPORTS