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K.R. Srivats

New Delhi , Oct. 13

THE Government plans to undertake studies on various services sectors of the economy as part of its efforts to identify and make known those foreign exchange remittances that would not be counted for duty credit entitlement under the `Served from India' scheme.

The `Served from India' scheme was unveiled on August 31 in the foreign trade policy to accelerate growth in services exports. This scheme allows individual service providers who earn forex of at least Rs 5 lakh and other service providers who earn forex of at least Rs 10 lakh to avail themselves of duty credit entitlement of 10 per cent of the forex earned.

The Directorate General of Foreign Trade (DGFT) had recently held that labour remittances into the country would not be counted.

"As a first step, we had recently undertaken a study of the financial services sector and came up with an indicative list of foreign exchange remittances under this sector that would not be counted for the benefits of the scheme. We plan to undertake studies of other services sectors and come up with similar indicative lists", a senior official said.

The official held that the entire exercise would be completed in the next few months.

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