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Project Synopsis Group10 Section a BITC (1)

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    Program & Batch: PGDM 2012-14

    Term: V

    Course Name: Economic Policies & Regulatory Environment in India

    Name of the faculty: Sujoy Chakrboarty

    Topic/ Title : Analysis of Indias EximPolicy

    Original or Revised Write-up: Original

    Group Number: 6

    Contact No. and email of

    Group Coordinator:

    7503139615

    Satya Prakash

    Group Members: Sl. Roll No. Name

    1. 12DM-176 Arnab Ganguly

    2. 12IT-020 Satya Prakash

    3. 12DM-155 Vaisakh Krishnan

    4. 12DM-142 Shyam Suresh

    5. 12FN-092 Prashant Trivedi

    6. 12IB-015 Asim Anand

    7. 12HR-034 Utsav Chatterjee

    8. 12IB-039 Rohit Jain9. 12HR-017 Mohit Kaushal

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    Contents1. Introduction ........................................................................................................................................ 4

    2. Legal Framework of Indian Exports and Imports ................................................................................ 5

    3. Objectives of Indian EXIM Policy ......................................................................................................... 5

    4. EXIM policies & Scheme for Promotion of Exports ............................................................................. 6

    4.1 Board Of Trade .............................................................................................................................. 6

    4.2 Special Focus Initiatives ................................................................................................................ 6

    4.3 Export Promotion of Capital Goods .............................................................................................. 7

    4.4 FPS (Focus Product Scheme)......................................................................................................... 7

    4.5 FMS (Focus Market Scheme): ....................................................................................................... 7

    MLFPS (Market Linked Focused Product Scheme): ........................................................................ 7

    Market Linked Focus Product Scheme (MLFPS).............................................................................. 8

    MDA (Market Development Assess): .............................................................................................. 8

    Market assess initiative (MAI):........................................................................................................ 8

    4.6 Value Added Manufacturing (VAM) .............................................................................................. 9

    Project Export Announcement............................................................................................................ 9

    4.7 Reduction of transaction cost ....................................................................................................... 9

    4.8 Disposal of manufacturing waste.................................................................................................. 9

    4.9 Announcements ............................................................................................................................ 9

    4.9.1 Announcement related to sports weapon ............................................................................. 9

    4.9.2 Announcement for medical devices ...................................................................................... 9

    4.9.3 Announcement for automobile sector ................................................................................ 10

    4.10 Announcement for Electronic Data Interchange (EDI) ............................................................. 10

    4.11 Marine ....................................................................................................................................... 10

    4.12 Star Export Houses/ Status Holders .......................................................................................... 10

    4.13 Gems & Jewellery ...................................................................................................................... 11

    4.14 Agro Products ............................................................................................................................ 11

    4.14 Leather Products ....................................................................................................................... 12

    4.15 Tea ............................................................................................................................................. 12

    4.16 Pharmaceuticals Industry .......................................................................................................... 12

    4.17 Handloom Industry ................................................................................................................... 12

    4.18 Scheme for Export Oriented Units: ........................................................................................... 135. Quantitative Target of EXIM Policy 2009-14 ..................................................................................... 13

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    6. Analysis Of effects EXIM Policy ......................................................................................................... 13

    6.1 Current Position of Indian Exports and Imports ......................................................................... 14

    6.2 Category wise Analysis of Indian export ..................................................................................... 15

    6.3 Category wise Analysis of Indian Import ..................................................................................... 15

    6.4 Comparison of Indias major exporting sector to major importing sector................................. 17

    6.5 Indian Export Region wise ........................................................................................................... 18

    7. Conclusions & Recommendations .................................................................................................... 19

    8. References ........................................................................................................................................ 20

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    1.Introduction

    India has long history of Foreign trade earlier it use to have trade surplus with entire world

    and there were no restrictions on export and import but in pre-independence era British

    government discouraged Indian exports and encouraged British imports to India .After

    Independence Indian government put controls on both exports and imports but in 1991

    significant changes were made to boost Indias trade and majority od trade barriers were

    removed. After 1991 due significant increase in demand for Indias exports in services sector

    Indian government has adopted the policy of liberalization and globalization for attainment

    of economic growth.

    EXIM policy of any country governs its exports and imports its one of the most important

    policy measure for government to achieve economic development according to the current

    priorities of country.

    In India Ministry of commerce decides EXIM Policy also known as foreign trade policy. EXIM

    policy in India is decided for every 5 years. Recently foreign trade policy was announced for

    2009-14 period on August 28 2009. Previously in policy announced in 2004 has two main

    objective first was to double share of global merchandise trade and to use trade as an active

    tool for economic growth and employment generation.

    The policy (2009-14) was very crucial because it was announced at the time when the entire

    world is suffering from one of most severe recession in the entire history of modern trade.

    According to the forecast done by World Bank over all international trade was projected to

    decline by 9% by volume. It was a difficult task for policy makers to increase the volume of

    exports when demand was on a sharp decline in developed countries.

    Though condition in India was slightly better than other exporting countries after 4 quarters

    of recession Indian Economy was showing signs of recovery to pre recessionary levels.

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    2. Legal Framework of Indian Exports and Imports

    3. Objectives of Indian EXIM PolicyAs global economic slowdown has led to closing of many export based small medium scale

    industries. Indian EXIM policy aims at exploring potential export market and boosting exportperformance to increase foreign trade.

    Foreign Tradeact 1992

    Foreign TradeRules 1993

    Foreign Trade

    Order 1993

    EXIM Policy

    Hand book

    OfProcedures

    Vol 1

    ITCClassification

    of EXIMPolicy

    Hand bookOf

    ProceduresVol 2 (SION)

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    4. EXIM policies & Scheme for Promotion of Exports

    4.1 Board Of Trade

    Government of India has established a Board of trade as advisory body on foreign trade

    issues. Government nominates 25 members of BOT of which 10 to be expert in foreign trade

    policy. Main Objectives of Board Of trade are

    To advise govern in execution and formulation of short term and long term

    strategies according to domestic and global economic scenario.

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