March 31, 2000
Y2K: BIZ FEATURES
INDIA & THE WTO
BIZ IN THE USA
CARS & MOBIKES
India to set up Chinese-type export zones; DEPB to continue; QRs on 714 items to go
In a major step towards sustained quantum
growth, the government has decided to emulate the example of China
to establish special export zones in different parts of the
country, Union Commerce Minister Murasoli Maran announced in New Delhi today.
Explaining the export policies for 2000-2001, Maran said
these zones would come up initially in Gujarat and Tamil Nadu.
Other highlights of the review of the Exim Policy 1997-2002 are:
- Earmarking of Rs 2.5 billion of initial outlay for schemes to involve states in
boosting export efforts.
- Major sector-specific initiatives to be taken in gems and
jewellery, agrochemicals, biotechnology, pharmaceuticals, leather
garments, silk, granites for export oriented units and export
- Duty free replenishment for more than 5,000 products and making
easier availability of inputs for exports.
- Major rationalisation of the export promotion scheme has been effected.
- The Duty Entitlement Passbook Scheme or DEPB -- to
- Export Promotion Capital Goods or EPCG Scheme to be extended to other sectors without any threshold limits at 5 per cent duty.
- Boost to e-commerce and electronic filing of application
to be the norm.
- Priority to procedure simplification and transparency.
- Removal of quantitative restrictions or QRS on 714 items and making
available safeguards for domestic industry.
- Tariff Commission to be strengthened.
Exim Policy 2000-2001
Exim Policy 1999-2000
Web site of the Ministry of Commerce and Industry