Business Daily from THE HINDU group of publications Saturday, May 26, 2007 ePaper |
|
|
|
|
|
|
|
Logistics
-
Shipping Industry & Economy - Exports & Imports Government - Policy Focus Product, Market schemes benefits given to non-EDI ports K.R. Srivats
New Delhi May 25 The Government has extended the benefits of the Focus Product and Focus Market schemes to export shipments made from non-computerised ports. Prior to this move, the benefits of these two schemes were restricted to shipments made from ports that are EDI-enabled (with electronic connectivity between port, bank, DGFT and customs). Out of the 208 ports of the country, 33 have been notified as EDI-enabled ports.
Focus product
The Focus Product scheme provides incentives for export of products with high employment potential in rural and semi-urban areas. The main objective of the Focus Markets scheme is to offset the high freight cost and other disabilities to certain select international markets with a view to enhancing the country's competitiveness to these countries.
Focus Market
The Focus Market scheme allows duty credit facility at 2.5 per cent of the free-on-board value of exports of all products to the notified countries. The exporting community had submitted to the Government that there should not be any discrimination between the EDI and the non-EDI ports for grant of benefits under the Focus Product and Focus Market schemes. The latest move of the Government would particularly benefit exporters from far-flung areas of the country, who are exporting through inland container depots (ICDs), which are non-EDI enabled. The Commerce Secretary, Mr G.K. Pillai, had in the first week of May assured the Federation of Indian Export Organisation (FIEO) members that the benefits of the Focus Product and Focus Market schemes would be extended to exports made from the non-EDI ports as well. The Government had in this year's annual supplement to the Foreign Trade Policy enlarged the twin schemes to give a push to exports as well as employment. Besides including new products ( such as mica, barley, oats, cigar, soyabean) in the Focus Product Scheme, the Government had also increased the allocation of this scheme from the existing Rs 650 crore-1,000 crore. Also, 16 new countries including 10 CIS countries were included under the Focus Market scheme.
More Stories on : Shipping | Exports & Imports | Policy
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|