Government of India
Ministry of Commerce and Industry
Department of Commerce
Directorate General of Foreign Trade
Udyog Bhavan, New Delhi-110 011
Circular No. 93(RE-08)/2004-2009
Dated, the 10th June, 2009
To
All Regional Authorities
Attention is invited to Para 5.11 of Foreign Trade Policy (RE-2008) regarding
incentives for Fast Track Companies. The need for uniformity in application of
Para 5.11 of Foreign Trade Policy regarding incentives for Fast Track Companies
was discussed in the Port Officers’ Meeting held on 25.11.2008 and the matter
was also considered in Policy Interpretation Committee (PIC) in its meetings
held on 27.1.2009 and 18.5.2009.
- The Policy Interpretation Committee in its meeting held on 18.5.2009 decided
that incentives for Fast Track Companies will be provided to all cases for grant
of redemption of EPCG Authorization issued on or after 1.4.1999 in respect of
EPCG Authorization of CIF value of Rs.100 crores or more where export obligation
is required to be fulfilled over a period of 12 years, and on or after 1.4.2001
for all other EPCG Authorizations. This will be subject to the condition that
the Annual Average Export Obligation imposed on the EPCG Authorization, if any,
has been completed in full and the Authorization holder has fulfilled 75% or
more of additional Export Obligation in half or less than half of the original
Export Obligation Period specified.
Sd/-
(Akash Taneja)
Joint Director General of Foreign Trade
(Issued from File No. 18/46/AM08/EPCG-II)