MARKET AND PRODUCT DIVERSIFICATION
- Norway has been added under Focus Market Scheme and Venezuela has been added under Special Focus Market Scheme.
- The total number of countries under Focus Market Scheme and Special Focus Market Scheme become 125 and 50
- 160 new products including 153 hi-tech products have been added under the scheme w.e.f. 15th August, 2013.
- 10 new products have been added under scheme w.e.f. 1st March, 2014.
- Thoothukudi has been added to existing list of Towns of Export Excellence for marine products w.e.f. 27th February, 2014.
- The total number of towns export excellence (TEE) is 33. These towns shall be eligible to get benefit under ASIDE Scheme.
INCREMENTAL EXPORTS INCENTIVISATION SCHEME
- Government has announced Incremental Export lncentivisation Scheme on 26th December, 2012 for die exports made during January, 2013 to March, 2013.
- This scheme is available for exports made to USA, EU and Asia.
- It has been agreed to extend this scheme for the year 2013-14.
- The calculation of the benefit shall be on annual basis under the extended scheme. The Government has also agreed to include additional countries under Incremental Exports Incentivisation Scheme.
- 53 countries of Latin America and Africa have been added with the objective to increase India’s share in these markets.
- The present export to each of these markets is less than US$ 100 million.
FACILITY TO CLOSE CASES OF DEFAULT IN EXPORT OBLIGATION
- Requests have been received for grant of relief to close cases where there is default in export obligations pertaining to advance authorisations and EPCG authorisations.
- It has been decided to allow a facility to close such cases after payment of required duty, along with applicable interest. The duty plus interest have to be paid within a limited period of six months from the date of notification of this scheme.
- The total payment shall not exceed two times the duty saved amount on default in Export Obligation.
