Govt must mean what it says

EXIM MATTERS

ocurement of only capital goods related to infrastructure meant for agro-processing to promote agricultural export. The changes now announced mean that only the status holders interested in import of capital goods like cold storage units, pack houses and reefer vans/containers for their own use will be interested in export of agricultural products under the scheme. The status holders who had intended to enter the business of exporting agricultural products in the hope that they can earn duty credit entitlements that can be sold off to others intending to import the capital goods related to infrastructure, meant for agro processing will have to revise their plans.  The commerce minister had announced that exports of notified High Tech products through EDI enabled ports, shall be entitled for duty credit scrip equivalent to 10 per cent of incremental growth in exports of notified products put together (realised in free foreign exchange) for current year (2007-08) over previous year (2006-07) for each licensing year commencing from April 1, 2007. Now the policy is amended to allow duty credits only to the extent of 1.25 per cent of FOB value of exports or 5 per cent of incremental growth in FOB value of exports of notified products for the current year (2007-08) over the previous year (2006-07) and similarly for each subsequent licensing year. The condition of exports through EDI enabled ports has been removed. The condition that applicants with