Policy Circular No. 54 dated 1^st December 1998

Certain issues have been raised relating to EPCG Scheme. It has been decided to clarify them as follows:

i.      "Processed and Frozen Meat" products are covered under the "Food Processing Sector" and as such are eligible for Zero Duty EPCG Scheme with the value limit of Rs. 1 Crore or more in accordance with Paragraph 6.2 of EXIM Policy, 1997-2002 (Revised Edition : April, 1998).

ii.     The Policy amendment announced vide Notification No. 17 dated 1.9.1998 regarding calculation of average export obligation under EPCG Scheme by excluding the exports effected towards fulfilment of export obligation against any EPCG licence shall be applicable in respect of any EPCG licence redeemed/ to be redeemed on or after 1.9.1998.

This is issued with the approval of Directorate General of Foreign Trade in consultation with EPCG Committee.