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Denomination of Export Contracts, Reduced Threshold for EH Status &
Replenishment Licence
Notification
No. 11 dated 1st August 2002
In
exercise of powers conferred by Section 5 of the Foreign Trade
(Development and Regulation) Act, 1992 (No. 22 of 1992) read with
paragraph 1.1 of the Export and Import Policy, 2002-07, the Central Government
hereby amends/ corrects the Export and Import Policy, 2002-07 as under:
1)
Para
2.40 pertaining to �Denomination of Export Contracts� is amended as under:
�All
export contracts and invoices shall be denominated either in freely convertible
currency or Indian Rupees but the export proceeds shall be realized in freely
convertible currency only. Contracts
for which payments are received through the Asian Clearing Union (ACU) shall be
denominated in ACU Dollar. The Central Government may relax the provision of
this paragraph in appropriate cases. Export contracts and invoices can be
denominated in Indian rupees against EXIM Bank/ Government of India line of
credit.�
2)
Note: 1
of para 3.7.2 pertaining to �Export Performance Level� is amended as under:
�Units
in Small Scale Industry/ Tiny Sector/ Cottage Sector/ Units registered with
KVICs or KVIBs/ Units located in North Eastern States, Sikkim and J&K/ Units
exporting handloom, handicrafts, hand knotted carpets, silk carpets/ exporters
holding golden status/ exporters exporting to countries in Latin America and
CIS/sub Saharan Africa, units having ISO 9000 (series) or ISO 14000 (series) or
HACCP Certification or WHO-GMP or SEI CMM level 2 and above certification
status, shall be entitled for export house status on achieving average FOB/ FOR
value of Rs. 5 crore during the preceding three licensing years. The same
threshold limit shall be applicable to the service exporters and agri exporters
(other than grains) for obtaining Export house status.�
3) Paragraph 4.4.5 (b) is amended as under:
�Silver
Jewellery including partly processed jewellery, silver wire, silver strips, and
any article including medallions and coins (excluding the coins of the nature of
legal tender and any engineering goods) containing more than 50% silver by
weight;�
This
issues in public interest.
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