Mini-Exim Policy: Government foreign trade norms
New Delhi: When the mini-Exim Policy was announced yesterday, the Indian said a string of trade facilitation measures will be initiated to bring down transaction cost with a view to consolidating and accelerating incremental growth rate of exports to make the country a manufacturing hub for quality goods and services.

These include, among others, flexibility in discharge of export obligation (EO) by extending the scope to include exports of products/services by group companies, refixation of export obligation of past Export Promotion Capital Goods Scheme (EPCG) licences in line with existing policy (which means, EO to be eight times the duty saved, instead of five times the CIF value), free import of gold and silver without the nod of designated agencies and a gold card scheme for credit-worthy exporters with good track record for easy availability of export credit on best terms to be worked out by the RBI.
Back to News Review index page  

Exports spurt 43% in December
New Delhi: A downward revision in the December 2002 export figures — $3.8 billion against the provisional estimates of $4.4 billion released in January 2003 — has pushed up export growth in December last year to a stupendous 42.68 per cent to $5.48 billion from $3.84 billion in the corresponding month in the previous year, says a report.

Imports have also grown by 44.95 per cent to $7.2 billion from $ 4.97 billion in the corresponding period. Trade deficit has widened by 54.5 per cent to $ 1.7 billion from $ 1.1 billion in December 2002.
Back to News Review index page