WTC Jaipur joins with Jt.DGFT on session on review of FTP 2015-20
World Trade Centre Jaipur in association with Jt. DGFT office and Bhilwara Textile Trade Federation organized a session on Mid Term Review of Foreign Tarde Policy 2015-20.
Addressing the gathering Mr. Virendra Singh, I.T.S., Joint DGFT said, the long awaited mid-term review of the Foreign Trade Policy 2015-20 was released by the government focuses on expanding market, alignment with GST, data analytics backed policy intervention and trade facilitation with specific emphasis on MSME and labour intensive sectors. In the amendment policy Merchandise Exports from India Scheme (MEIS) Incentive increased by two percent for major sectors viz., leather, agriculture, carpets, hand tools, handloom, handicrafts, medical and scientific products and telecom equipment/ components etc. Service Exports from India Scheme (SEIS) Incentive increased by two percent for eligible services for exports effected from 01 November 2017. Benefit extended to ground handling services as part of Air Transport Services. Benefit restricted to specified payments which is approved by RBI as deemed foreign exchange payments.”
Mr. Sing further added “Advance Authorization Scheme, Self-ratification scheme notified for export products with no notified Standard Input Output Norms/ adhoc norms or exporter intends to use additional inputs. Exporter, in such cases, eligible to seek authorization on self-declaration and certification basis. Scheme presently extended to exporters holding Authorized Economic Operator status with Customs. The scheme is not eligible for specified products like Bio-technology items, insecticides, etc. Advance authorization can now be issued basis applicant specific prior norms as fixed by the Norms Committee or on the basis of self-ratification scheme.”
Vote of thanks was proposed by Mr Rameshwar Kabra, President, Bhilwara Textile Trade Federation. The programme was attended by more than 75 exporters from fabric industry.