Public Notice No. 34 dated 15^th September 2000 (As amended by Public Notice No. 23 dated 27^th June 2001)

In exercise of the powers conferred under Paragraph 4.11 of the Export and Import Policy 1997-2002, as notified in the Gazette of India Extraordinary, Part II, Section 3, Sub-Section (ii) vide S. O. No. 283(E) dated 31.3.1997, the Director General of Foreign Trade hereby makes the following amendments -

2.      As per Paragraph 10.2(d) of the Exim Policy, 1997-2002 read with Appendix 40 of Hand Book of Procedures, Vol. 1, 1997-2002, supply of goods to projects financed by World Bank (IBRD & IDA) are entitled for deemed export benefits as given under Paragraph 10.3 of Exim Policy.

3.      Eastern Region System Coordination and Control (ERSC&C) Transmission Projects are likely to be financed by World Bank (IBRD & IDA). The matter of extending deemed export benefits for supply of goods to the above stated project has been considered in consultation with Ministry of Finance and it has been decided that deemed export benefits as given under Paragraph 10.3 of the Exim Policy shall be available for supplies of goods to the above stated project, as if this project is financed by World Bank (IBRD & IDA). 

4.      In case World Bank loan fails to come through, for any reason, being a power transmission project, no deemed export benefits would be available for ERSC&C project and Power Grid Corporation would return entire deemed export benefits availed of by them under transitional arrangements.