Page 57 - MSME August 2016
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News Interest Subvention Scheme to Boost Exports he Government has introduced the Authorisation for Consumables and Advance Interest Equalization Scheme on Pre Authorisation for precious metals. Export Tand Post Shipment Rupee Export Credit Promotion Capital Goods (EPCG) Scheme w.e.f. 01.04.2015 for 5 years. The scheme has facilitates import of capital goods at zero been notified vide RBI circular No. 62 dated duty for producing quality goods and services 04.12.2015. The scheme is available to all exports to enhance India’s export competitiveness. by manufacturers under 416 specified tariff lines Authorisation holder under EPCG is not [at ITC (HS) Codes at 4 digit level] and exports required to maintain average Export Obligation made by manufacturing Micro, Small and Medium in respect of export of goods from following Enterprises across all ITC (HS) Codes. The rate of sectors viz. Handicrafts, Handlooms, Cottage interest equalisation is 3% per annum. & Tiny sector, Agriculture, Aqua-culture (including Fisheries),Pisciculture, Animal Government has taken suitable measures to husbandry,Floriculture & Horticulture, promote exports, which include: Poultry, Viticulture, Sericulture, Carpets, Coir, and Jute. (i) The Merchandise Exports from India Scheme (MEIS) was introduced in the Foreign Trade (iv) Market Access Initiative (MAI) Scheme is Policy (FTP) 2015-20 with effect from an Export Promotion Scheme envisaged to April 1, 2015. MEIS aims to incentivize act as a catalyst to promote India's exports export of merchandise which is produced/ on a sustained basis. The scheme provides manufactured in India. assistance to Export Promotion Organizations/ Trade Promotion Organizations/National (ii) The Government has introduced the Interest Equalisation Scheme on Pre & Post Shipment Level Institutions/ Research Institutions / Rupee Export credit with effect from 1.4.2015. Universities /Laboratories, Exporters etc., for The scheme is available to manufacturers for enhancement of exports through accessing all exports under 416 specified tariff lines [at new markets or through increasing the share ITC (HS) Codes at 4 digit level] and to exports in the existing markets. made by manufacturers in Micro, Small and (v) Market Development Assistance (MDA) Medium Enterprises across all ITC (HS) Codes. Scheme is under operation through the The rate of interest equalisation is 3% per Department of Commerce to assist exporters annum. for export promotion activities abroad, assist Export Promotion Councils (EPCs) to undertake (iii) Duty Exemption/Remission Schemes viz export promotion activities for their product(s) Advance Authorisation (AA), Duty Free Import and commodities and assist approved Authorisation (DFIA) and Duty Drawback organizations/ trade bodies in undertaking (DBK) Scheme enable duty free import of exclusive non-recurring innovative activities inputs for export production, including connected with export promotion efforts for replenishment of input or duty remission. their members. Schemes to promote exports of Gem & Jewellery include Advance Procurement This information was given by the Commerce / Replenishment of Precious Metals from and Industry Minister Smt. Nirmala Sitharaman Nominated Agencies, Replenishment in a written reply in Rajya Sabha on August 3 , rd Authorisation for Gems, Replenishment 2016. n August, 2016 55
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