India new foreign trade policy 2015 2020 issued by dgft and speech of commerce minister smt. The much awaited foreign trade policy 201520, a first by the modiled. Corrections amendments in table 2 of appendix 3b foreign trade policy 201520. Pdfjpgjpeg gif format in the online filing system in respect of a fixation of. Registration takes 30 seconds and entitles you to receive daily. Foreign trade policy 201520 is a first by the modiled government released on 1st april 2015 apart from focus on domestic manufacturing, the latest ftp 201520 targets an increase in exports a boost to the make in india vision of the government foreign trade policy 2015 2020. Trade facilitation and enhancing the ease of doing business are the other major focus areas in this new ftp. Effective 1 april 2015, the various export incentive instruments are unified under a single new instrument, the merchandise export incentive scheme meis. Foreign trade policy 1 st april, 2015 31 st march, 2020 updated upto 30 06 2015 government of india ministry of commerce and industry department of commerce.
The much awaited foreign trade policy 2015 20, a first by the modiled government, is stated be designed with a view to double indias share in world trade from the present level of 3%, by the year 2020. Ftp 201520 foreign trade policy statement, foreign trade policy 20152020, handbook of procedures 20152020, appendices and aayat niryat forms of ftp. The new policy gives a boost to the make in india vision of the. First is that the government simplified numerous existing export promotion measures into two new basic schemes. The general goal of these foreign trade policies is to create or increase a countrys balance of trade surplus, that is, to increase net exports. Directorate general of foreign trade dgft organisation. This growth is a function of global recovery, which seems to be distant at present. Trade propels economic growth and national development. Foreign trade policy is also known as exportimport policy or exim policy. The primary purpose is not the mere earning of foreign exchange, but the stimulation of greater economic activity. The new foreign trade policy 201520 has made many new measures for the promotion of indias foreign trade.
Buy handbook on foreign trade policy 20152020 book online at best prices in india on. The new foreign trade policy was unveiled by honble commerce and industry minister, mrs. Pdfjpgjpeggif format in the online filing system in respect of a fixation of. Corporate law reporter is the fastest indian law journal delivered everyday free. Epcg scheme under new foreign trade policy 201520 ftp 201520. The import baggage clearance at ports are completely manual and time consuming. Foreign trade policies are government actions, especially tariffs, import quotas, and export subsidies, designed to increase net exports by promoting exports or. Foreign trade policy, 20152020 ftp was unveiled on april 1, 2015 at the vigyan bhawan, delhi, thus laying down a road map for indias global trade engagement in the coming years. Dgft issues two notification making ten amendments in foreign trade policy 201520. Services exports from india scheme seis schedule under appendix 3d notified in exercise of powers conferred under paragraph 2. Review of ftp 201520 is to be made by the end of 2017, after two and half years from the date of announcement of the ftp 201520.
The bank, as the apex financial institution for financing, promoting and facilitating indias international trade, consolidates inputs from banks, fis, insurance companies and other agencies. Scope of merchandise exports from india scheme meis and service exports from india scheme seis enhanced. Details of foreign exchange inflowoutflow exportinflow rs. Foreign trade policy of india 201520 ftp 201520 announced on 01 st april 2015 to support manufacturers and service sectors with special emphasis to improve ease of doing business. The foreign trade policy 20152020 which was released on 1st april 2015 has begun a new chapter in the indian foreign trade policy regime, with substantial developments over the erstwhile policy and renewed objectives which are in line with indias ambitions to achieve new. Fob value of exports in free foreign exchange or fob value of exports given in the shipping bills in free foreign exchange, whichever is less, shall be considered.
It has been developed with an objective to enable a single window access to information and services being provided by the various indian government entities. Purview exim policy, a synonym to foreign trade policy, is a set of guidelines and instructions established by the government in the sphere of foreign trade i. Special offer on gst package for cas as per the mou with icai. This unit concentrate on the main dimension of foreign trade and policy namely various trade theories, terms of trade, balance of payments and adjustment mechanism in payments. Export incentives with respect to new foreign trade policy. One of the major objective of new ftp is to move towards paperless working in 24x7 environment. Some of the objectives of foreign trade policy of india are as follows. Buy handbook on foreign trade policy 20152020 book online. Home foreign trade policy 201520 as on 30 june 2019 foreign trade policy 201520 as on 30 june 2019 s.
It has one new scheme relating to export of handicraft sector also. Ftp 201520 introduces two new schemes, namely merchandise exports from india scheme meis for export of specified goods to specified. Unit i foreign trade and policy pondicherry university. It is the first time ministry of commerce published foreign trade policy statement giving in brief the dynamic sub global market and indias trade performance, challenges and declared vision, mission, goals and objectives. Ministers speech 20152020 webcast of foreign trade policy 20152020 foreign trade policy statement 20152020. This five year foreign trade policy introduces new schemes for exporters of india called meis, merchandise exports from india. Meis incentive raised for readymade garments and made ups by 2% additional annual outgo rs. Trade policies can be of two types, the free trade policy and the protective trade policy. With the objective of selling india as a manufacturers friendly country and facilitating exports, the 201520 policy was revamped, and new schemes like. Objectives of indias foreign trade policy 201520 ftp 201520 provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country, in line with the make in india programme. The present publication is an attempt to provide guidance to. Export incentives form the vital part of the policy.
Exim mitra helps supplementcomplement the information available in other portals on exports and imports with focus on trade finance and exports risk mitigation measures such as credit insurance. The new foreign trade policy 201520 focuses upon increasing exports of goods and services as well as generation of employment and is. The objectives of the foreign trade policy of india. No manual feeding of shipping bill details shall be allowed for edi shipments in. A person who avails of any of the schemes will need to read the relevant provisions o in the policy, o in the handbook of procedures issued to provide for the details of procedure to implement the scheme how to apply, how to. Foreign trade policy 1 st april, 2015 31 st march, 2020 government of india ministry of commerce and industry department of commerce. The foreign trade policy, 201520, is notified by central. Foreign trade policy, 201520 corporate law reporter. Foreign trade policy 20152020 exports international. Ultimately, it means that the government has not succeeded in its plan of providing a stable policy in foreign trade. In exercise of the powers conferred under paragraph 1. The exim polices are adopted by any country regarding the exports and imports goods and services with other countries in the world. Foreign trade policy, dgft consultant rsa legal solutions. Eximkey india dgft, customs, excise, export import policy.
New foreign trade policy 201520 the dollar business. Dgft amends table 2 of appendix 3b foreign trade policy. Special focus on trade facilitation also is one of the features of foreign trade policy of india 201520. Handbook on ha foreign trade policy ndbo and ok o guide to. The new foreign trade policy includes an overhaul of the indian export incentive system. Member strength 30,89,764 and growing get latest updates. The new foreign trade policy 201520 has considered various policy changes such as simplification and amalgamation of incentives schemes, revamping of incentives schemes for services exports, focus on reduction of transaction cost, incentives to sezs, eliminating bottlenecks for doing business, etc.
The foreign trade policy of india is based on two major objectives, they are as follows. Highlights of the foreign trade policy ftp 20152020 april 1, 2015 in brief the honble commerce and industry minister has introduced the foreign trade policy ftp 2015. Foreign trade policy 20152020 for manufacturing sector measures have been adopted to nudge procurement of capital goods from indigenous manufacturers under the epcg scheme by reducing specific export obligation to 75% of the normal export obligation. Nirmala sitharaman on 1 st april 2015 at vigyan bhawan, delhi.