Commerce and Industry Minister Kamal Nath released the annual supplement (2005) of the Foreign Trade Policy 2004-09 in the capital today. The policy is aimed at taking India's exports to $92 billion in 2005-06 from $80 billion in 2004-05.

The policy enunciates a number of steps to streamline procedures and has laid thrust on agri exports, including removal of exports` cess on farm and plantation commodities and includes a special package for the marine sector, new initiatives in infrastructure to ease congestion at major ports and a reoriented 'export promotion credit guarantee scheme'.

Nath said the popular duty entitlement passbook scheme will continue for the time being until the replacement scheme is finalised.

The Left Front leaders, who had a breakfast meeting with Dr Manmohan Singh and UPA chairperson Sonia Gandhi, expressed their satisfaction with the policy.

Highlights of policy: Inter-State trade council proposed for boosting exports. No safeguard and anti-dumping duty on inputs under AL. Export obligation reduced in agri, manufacturing and SSI. Poultry and dairy products granted 5 per cent duty credit. For jewellery imports of samples enhanced to Rs3 lakh. Supply of gold of 0.995 and above purity allowed for export. Procedure for debonding from EOUs simplified. Procedure for transfer of capital goods from EOU simplified. EOUs can claim IT exemption within 12 months of exports. Size of Aayaat-Niryaat Form reduced. Annual AL to be available to all exporters with record. Bank guarantee reduced for units in agri export zones. Bank guarantee reduced for service providers and exporters. Clubbing norms in AL and EPCG simplified. Served from India scheme made more liberal.