Leather Industry welcomes supplement to Foreign Trade Policy
April 8, 2005
Members of the Council,
Sub: Annual supplement to the National Foreign Trade Policy 2004-09
As you are aware, the first supplement to the National Foreign Trade Policy 2004-09 was unveiled today by Shri Kamal Nath, Hon-ble Union Minister for Commerce & Industry. The supplement lays special focus on further procedural simplifications and trade facilitation measures so as to reduce transaction time & cost to the exporters.
There has been no new announcement about the new scheme to replace the DEPB scheme. As a result, the existing DEPB scheme would continue till a new scheme is developed in consultation with cross sections of the Indian industry.
The Target Plus scheme announced in FTP to reward the incremental export would continue in the year 2005-06 with some modifications to be notified separately. Similarly, the special facility namely -Duty Free Credit Entitlement for Status Holders- introduced in the erstwhile Exim policy 2003-04 has also now been operationalized. Necessary application format for these two schemes has now been notified, in Appendix 17D of the Handbook (Vol-I) vide DGFT Public Notice Nos. 69 & 70/2004-09 dated April 7, 2005. The application format can be downloaded from the DGFT website www.dgft.delhi.nic.in This form would also be hosted in CLE website www.leatherindia.org
A Note on the important highlights of the annual supplement to FTP is attached herewith for your ready reference.
Member-exporters may kindly take note of the above.
K Abdul Sattar Khan