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Amendments in Exim Policy
Notification
No. 22 dated 21st September 1998
In
exercise of powers conferred by section 5 of the Foreign Trade
(Development and Regulation) Act, 1992
(No. 22 of 1992) read with paragraph 1.3 of the Export and Import Policy,
1997-2002 (incorporating amendment
made upto 13.4.98), the Central Government hereby makes following amendments in
the Export and Import Policy, 1997-2002: (incorporating
amendment made upto 13.4.98).
The
following may be added at the end of paragraph 12.12:
"However,
wherever such recognition has been granted for the period commencing from
1.4.97, the exporter while applying for renewal during 1998-99 shall not be
required to achieve a minimum of 20% annual average growth in export performance
over the FOB/NFE value of exports on which such recognition was granted".
The
following may be added as paragraph 12.12A after paragraph 12.12.
"Manufacturing
companies or industrial houses with an annual manufacturing turn over of Rs. 300
crores and Rs. 1,000 crores in the preceding licensing year shall be recognised
as Star Trading House and Super Star Trading House respectively on signing an
Memorandum of Understanding in the prescribed form for achieving physical
exports as currently prescribed for these categories over a period of next three
years".
This issues in public
interest.
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