12.12.09 presentation on ftp-icai (4)

7/27/2019 12.12.09 Presentation on Ftp-icai (4)

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Outline Of Presentation

Indias Foreign Trade

Current Economic Crisis

Foreign Trade Policy Components andSchemes

Foreign Trade Policy New Initiatives

Role of CAs in trade facilitation as in FTP


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In the last five years, robust growth in merchandiseexports

From US$ 63 billion in 2003-04 to US $ 185 billion in

2008-09.

Share of global trade (WTO estimates):

2003 2008

Merchandis e trade 0.83% 1.45%

Commercial Services

exports

1.4% 2.8%

Goods & Services Trade 0.92% 1.64%


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Exports & Imports(Figures in US$ billion)

Year ExportTarget

ActualExport

%

Growth

Imports %Growth

2004-05 75 83.53 30.8 111.52 42.7

2005-06 100 103.09 23.4 149.17 33.8

2006-07 125 126.26 22.5 185.60 24.4

2007-08 160 162.90 29.0 235.9 27.0

2008-09 175(Revised)

185.29 13.6 287.76 14.3

2009-10

(April-Oct09)*

91.05 146.77


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Impact on Indian Exports(Figures in US$ billion)

Period 2007-08* (US $Billion)

2008-09**(US $ Billion) Incr ease(+) / Decr ease (-)

April- Sept. 73.558 108.907 + 48.1

October 14.675 14.131 -3.7

November 12.909 11.163 -13.5

December 14.625 13..368 -8.6

January 2009 14.889 12.869 -13.6

February 15.221 11..941 -21.5

March 17.254 12..916 -25.1

April 08 to March 09 163.13 185.295 +13.6

Month 2008-09@ 2009-10 Incr ease(+) / Decr ease (-)

April 2009 18.460 11.909 -35.5

May 18.687 11.368 -39.2

June 19.181 13.059 -31.9

July 19.030 13.623 -28.4

August 17.759 14.289 -19.5

September 15.789 13.608 -13.8


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DECLINE IN EXPORTS

Impact on Indian exports:Suffered a decline in the last 11 months since October 2008.

April - September 2009 exports show a decline of 28.5% (in $ terms)and 18.6% (in Rupee terms) vis--vis last year.

Employment intensive sectors have been severely affected.

Tea (-37.2%), Spices (-27.8%), Cashew (-27.5%), Oil-meals (- 42.9%)Iron-ore (-29.5%), Leather and Leather Manf. (-26.6%),Gems & Jewellery (-28%), Basic Chemicals (-26.9%),

Engineering Goods (-32.1%), Electronic Goods (-32.2%).Cotton Yarn /Fabrics /Made-ups (-31.5%), Jute Mfg. incl. Floor Covering(-39.8%), Carpets (-29.8%), Handicrafts (-29.8%),Petroleum Products (-43.1%), Plastics & Linoleum (-23.2%).


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REASONS FOR EXPORT DECLINE

Major Hurdles faced by Indian Exporters:

Unprecedented Rupee Appreciation by about 12% in the year 2007-08;

Global Economic Slowdown and Recession in Developed

Economies during 2008-09 and its impact. High Interest Rates Non-availability of trade credit Withdrawal of GSP Benefits by US on certain products such as

Gems and Jewellery items, certain leather products etc. Ban on exports of certain food products since 2007. High Incentives provided by some of the countries like China,

Bangladesh etc.


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Apprehension of severe downturn in

November 2008

Series of stimulus measures announced

o Fiscal incentives

o Monetary liberalization


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MEASURES TAKEN BY GOVT. AND RBI

Measures taken by the Government: Interest subvention of 2% extended till 31.3.2010, to labour

intensive sectors for exports:- Textiles (including Handlooms),Handicrafts, Carpet, Leather, Gems & Jewellery, Marine

Products and SMEs; Continuation of Duty Entitlement Passbook (DEPB) Scheme

upto 31st December, 2010;

Restoration of DEPB rates for all items where they werereduced in November, 2008 and increase in Duty Drawback

rates on certain items effective from 1st September, 2008; DEPB and Freely transferable Incentive Schemes allowed

without the initial requirement of BRC;


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Stimulus package Key features

CENVAT reduced from 14 per cent to 8 per cent

Service tax reduced from 12 percent to 10 per cent

Additional Plan expenditure for critical rural & infrastructure schemes

Monetary policy measures Repo rate reduced from 9 percent to 4.75 per cent

Reverse repo rate reduced from 6 per cent to 3.25 percent

CRR reduced from 9 percent to 5 percent

Large program for construction of affordable housing announced

Assistance under the JNNURM for the purchase of buses for theirurban transport systems.

Accelerated depreciation of 50 percent for commercial vehicles Removal of ban on Government departments for replacement of

vehicles


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MEASURES TAKEN BY GOVT. AND RBI(Contd)

Back-up guarantee of Rs.350 crores made available toECGC to provide guarantees for exports to difficult markets /products;

Additional funds of Rs 350 crore provided to cover handicraftitems etc. in Vishesh Krishi and Gram Udyog Yojana(VKGUY);

Market Linked Focus Product Scheme extended for bicycleparts, Motor Cars and Motor Cycles, Apparels and Clothingaccessories, Auto Components etc.

Additional Rs 1100 crore provided to ensure full refund ofclaims of CST / Terminal Excise duty /Duty drawback.

Additional funds of Rs 1400 crore provided for textile sectorto clear the backlog claims of TUF;

Export duty on iron ore fines eliminated, and for lumps,reduced to 5%;

Some pending issues relating to Service Tax refund onexports resolved.


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MEASURES TAKEN BY GOVT. AND RBI(Contd)

A Committee constituted under the Chairmanship ofFinance Secretary to fast track resolution of proceduralissues. Secretaries of Department of Revenue andCommerce other Members of the Committee;

Measures taken by RBI: Increase in Liquidity to the banks for improving credit flow by

reduction of CRR from 9% to 5%, SLR reduced from 25% to 24%;Repo rate from 7.5% to 4.75% and Reverse Repo rate from 6% to3.25%.

Refinance facility to the EXIM Bank for Rs. 5000 crores forproviding pre-shipment and post-shipment credit.

Increase in FOREX Liquidity

Easing of Credit Terms by Enhancing the period of pre-shipment and post-shipment Rupee Export Credit by 90 dayseach, Increasing the time period of export realization for non-

status holder exporters to 12 months etc.


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Major Export Destinations

Country 2008-09

($ bn) % share in Total

1 USA 19.7 12%

2 United Arab Emirates 17.8 11%

3 China 8.5 5%

4 Singapore 7.6 5%

5 Hong Kong 6.4 4%

6 United Kingdom 6.2 4%7 Germany 5.9 4%

8 Netherlands 5.9 4%

9 Saudi Arabia 4.8 3%

10 Belgium 4.3 3%


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Major Import CommoditiesCommodity 2008-09

($ bn)

% share in Total

1 Petroleum, Crude and products 93.1 32.36%

2 Machinery, Electrical and non-electrical 24.3 8.44%

3 Electronic goods 21.5 7.48%

4 Gold and silver 19.5 6.76%

5 Fertilizer, crude and manufactured 13.6 4.72%

6 Pearls, precious and semi-precious 12.8 4.44%7 Organic and inorganic chemicals 12.8 4.43%

8 Coal, coke and briquettes 10.5 3.64%

9 Iron & Steel 9.5 3.30%

10 Metaliferrous ores and metal scrap 8.3 2.89%


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Foreign Trade Policy 2009-14

Short Term Objectives:

To arrest and reverse the declining trend of exports; and

To provide additional support to those sectors which have been hit badlyby recession in the Developed World.

Medium term Policy Objectives :

To achieve an Annual Export growth of 15% with an Annual ExportTarget of US$ 200 billion by March 2011.

To achieve an Annual Export growth of around 25% by 2014.

To double Indias exports of goods and services by 2014.

Long Term Objective :

To double Indias share in Global Trade by 2020.


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Foreign Trade Policy 2009-14New Initiatives

Strategies

Stable Policy environment

Fiscal incentives Diversification of export markets

Procedural rationalization

Institutional changes


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Foreign Trade PolicyComponents and schemes

Import / Exports controls

Schemes for Duty Exemption/Remission

Promotional Measures/ Incentive Schemes

Technological Upgradation

Deemed Exports

Export Oriented Units (EOUS), Electronics Hardware TechnologyParks (EHTPS), Software Technology Parks (STPS) and Bio-Technology Parks (BTPS)

Special Economic Zones


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Foreign Trade PolicyImport / Export Controls

Import:

Around 5% Tariff Lines are under Import Controls.

11600 Tariff Lines are free for import.

Almost total control on imports in 1991,

Restrictions removed over the next 10 years, removingalmost all the Quantitative Restrictions.

Presently:

Prohibited items - 53 Lines

Restricted items - 485 Lines State Trading Items - 33 Lines.


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Foreign Trade PolicyImport / Export Controls

Exports

Controls primarily on account of security, public health, publicmorals, exhaustible resources and environment grounds.

Prohibited items - 59 Restricted items - 155

State Trading Items - 12.

Restrictions fall under two Categories

Dual Use Items (SCOMET items) Special provision for theseitems under Weapons of Mass Destruction Act, 2005.

General Trading Items - Export Facilitation Committee looks intoapplications for license for these items.


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CENTRAL DUTIES:CUSTOMS DUTYBasic, Addl customs (CVD

including 4% Addl. duty, Education Cess, Anti-

dumping, Safeguard duties etc.

EXCISE DUTY--- Basic, Addl Excise duty etc.

CENTRAL SALES TAX (CST)

SERVICE TAX

EXPORT CESS

INCOME TAX [Exemption for SEZs ;EOUs (upto 31.3.2011)

FBT (Withdrawn)OTHERS:

ELECTRICITY DUTY, SALES TAX, OCTROI, etc.

GST-- Implications


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Foreign Trade PolicySchemes for Duty Exemption/Remission

Principle - Goods and Services are to be expor ted and not th e Taxes and

Levies.

Purpose: Procure inputs and capital goods without the component of

Central Indirect Taxes & Levies

Pre Export Schemes :

1. For Inputs: Advance Authorisation Scheme

Duty Free Import Authorisation (DFIA) Scheme

Schemes for Gems & Jewellery Sector

2. For Capital Goods: Export Promotion Capital Goods (EPCG) Scheme

Post Export Schemes : Duty Entitlement Pass Book (DEPB)

Duty Drawback Scheme

Terminal Excise Duty (TED) Refund

F i T d P li


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Advance Authorization Scheme

For making available duty free Inputs required to manufacture the exportproduct.

Inputs allowed as per Standard Input Output Norms and with Actual Usercondition

Facility available for Physical exports (including supplies to SEZ units & SEZDevelopers), deemed exports and Intermediate supplies.

Minimum 15% V.A.

Time period for import & export

Penalty clauses

2008-09 19,146 authorizations issued for CIF value of Rs. 1,04,333 crores

Foreign Trade Polic


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Duty Free Import Authorisation (DFIA)Scheme made operational from 1.5.06.

This was introduced to facilitate transfer of theauthorisation or the inputs imported, once export is

completed Minimum 20% value addition stipulated. Based on SION 22 sensitive items Validity similar to advance authorisation Sectors availing

2008-09 3,815 authorizations issued for CIF value ofRs. 8,779 crores


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Duty Entitlement Passbook Scheme (DEPB)

Post Exports scheme to neutralize the Basic customs duty on inputs. Post export Freely transferable Duty Credit Scrips issued at notified

percentage of FOB value of Exports.

Duty Credit Scrips used for payment of customs duty on imports DEPB rates notified for 2137 items Most popular scheme DEPB on pre realisation and post realisation Validity

Usability Sectors availing 2008-09 1,12,764 DEPB scrips issued for duty credit worth

Rs.7,713 crores.


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Gems & Jewellery Scheme

Duty Free Procurement of precious metal (Gold

/ Silver / Platinum) from the nominated agencieseither in advance or as replenishment.

Duty Drawback scheme notified

Duty Free Import of Consumables for exportproduction upto a specified percentage of FOBvalue of previous years export.


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Promotional Measures/Incentive Schemes Vishesh Krishi and Gram Udyog Yojana

(VKGUY) Focus Market Scheme (FMS)

Focus ProductScheme(FPS)

Market Linked Focus Product Scheme(MLFPS)

Served From India Scheme (SFIS)


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Foreign Trade PolicyPromotional Measures/ Incentive Schemes

Vishesh Krishi & Gram Udyog Yojana (VKGUY) To promote exports of:

(i) Agricultural Produce and their value added products;(ii) Minor Forest Produce and their value added variants;

(iii) Gram Udyog Products;(iv) Forest Based Products; and(v) Other Products, as notified from time to time.

VKGUY benefits are granted with an aim to compensate high transportcosts, and to offset other disadvantages.

Duty Credit Scrip benefits, at 5% of FOB value of exports; Lower rateof 3% when specific DEPB/ Drawback more than 1% /Advance

Authorisation benefit availed; Additional 2% provided for a few items.

2008-09 - Duty credit scrips issued under VKGUY Rs.2676 crores


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Focus Market Scheme

Objective is to offset high freight cost and other externalities to selectinternational markets with a view to diversify the markets and to enhanceIndias export competitiveness in these countries.

Currently 109 markets have been notified;

Exports of all products (except some in-eligible items / categories) tonotified countries entitled for Duty Credit Scrips equivalent to 3 % of FOBvalue of exports.

Pre realisation & post realisation Validity

Utility

2008-09 - Duty credit scrips issued under FMSRs.347 crores


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Focus Product Scheme

Objective is to incentivise export of such products which have highexport intensity / employment potential, so as to offset infrastructureinefficiencies and other associated costs involved in marketing ofthese products.

Exports of notified products to all countries entitled for Duty Creditscrip equivalent to 2 % of FOB value of exports.

Currently over 1000 Products (at 8 digit level) covered under FPS.

Validity Utility

2008-09 - Duty credit scrips issued under FPS Rs 215 crores.

Market L inked Focus Produc t


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Market Linked Focus Produc t

Scheme (MLFPS)

To promote exports of products of high export intensity butwhich have a low penetration in countries;

Export of Products/Sectors of high export intensity /employment potential (which are not covered underpresent FPS List) would be incentivized at 2 % of FOBvalue of exports.

Validity

Utility

Currently over 1550 products (at 8 digit level) coveredunder MLFPS.


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Served From India Scheme (SFIS)

To accelerate growth in export of Services to create apowerful and unique Served from India Brand;

All service providers (except a few ineligible sectors /services) entitled to duty credit scrips equivalent to 10 %of free foreign exchange earned during the year;

Validity Utility

Actual User

2008-09 785 SFIS scrips issued for duty credit worthRs.736 crores.


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Schemes for Technological Upgradation

Export Promotion Capital goods Scheme(EPCG)

Status Holders Incentive Scrip (SHIS)


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Export Promotion Capital goods (EPCG)Scheme Import of capital goods for modernization and technological upgradation at a concessional

import duty of 3% and at Zero duty for certain export sectors (against normal basiccustoms duty of 5% to 7.5%)

Zero Duty Scheme valid for specified sectors and till 31.3.2011.

Export obligation:Block-wise E.O. monitoring;Specif ic E.O.:- Subject to export obligation of 8 times duty saved over 8 years (3% dutyscheme) and 6 times duty saved over 6 years (zero duty scheme); Exceptions for Smallscale, tiny industries, agri sector etc.Average E.O.:- Exemption to certain sectors.

E.O. extensio n: EPCG comm itteePhysical , deemed and Third p arty exports

Penalty clauses 2008-09 - 19,931 authorisations issued for duty saved amount Rs.17,038 crores


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Status Holders Incentive Scrip

With an objective to promote investment forupgradation of technology of specified sectors

Status Holders shall be entitled to incentive scrip@1% of FOB value of exports in those sectorsmade during 2009-10 and during 2010-11, in the

form of duty credit scrip.

Mutually exclusive with EPCG


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Export Oriented Units (EOUS), Electronics HardwareTechnologyParks (EHTPS), Software Technology Parks(STPS) and Bio-Technology Parks (BTPS)

EOUs are permitted for manufacture of goods includingrepair, remaking, reconditioning, re-engineering andrendering of services. Trading activity is not permitted.

Duty free imports of all inputs.

Exemption from Income Tax under Section 10 B(presently extended till 31.3.2011.)

Refund of Central Sales Tax (CST) paid on supply ofgoods from Domestic Tariff Area (DTA) to EOU.

50% of FOB value of exports allowed to be sold in theDTA on payment of concessional duty (50%).

EOUs have to be a positive net foreign exchange earner.NFE is to be achieved cumulatively in a block of 5 years.


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Deemed Export Drawback / Terminal ExciseDuty Refund

Supply of goods manufactured by Domestic Units tocertain authorisation holders / recognised projects whichare otherwise entitled for Duty Free Imports.

Purpose is:

Import Substitution.

Benefits available in the form of: Advance Authorisation / DFIA;

Deemed Export Duty Drawback and TED Refund.


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Agreement on Subsidies and CountervailingMeasures

Prohib i ted sub sid ies:a) Contingent upon export performanceb) Contingent upon the use of domestic over

imported goods (Import Substitution Subsidy)--.

Except ion: Foot note 61 of Annex IIto theagreement: Exemption or remission of duty (Indirecttax) on the inputs (which are physically incorporated)orOil, fuel, energy, catalyst used in the exportproduction permitted.


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Agreement recognises the important role of subsidies ineconom ic development of developing countr iesand

t ransfo rmat ion of central ly planned econom iesto marketconditions.

Least developed countr ies and develop ing coun tr ies

hav ing less than US$ 1000 per capita GNPare exemptedfrom discipline of prohibited subsidies.

PROHIBITED SUBSIDIES:(Exceptions)


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--Prohibition not applicable to ANNEX VII countrieswhich includes India provided Export

Competitiveness in a product not reached;(Export Competi t ivenessExport of the productreached a share of at least 3.25% in world trade ofthat product for two consecutive calendar years

Phase out over a period of 8 years)

--However export subsidies granted by ANNEX VIIcountries can be subject to coun tervail ing du tyact ion.

ASCM and DISCIPLINE ON EXPORT SUBSIDIES-Export subsid ies generally prohib i ted


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Electronic Data Interchange (EDI) Initiatives

One of the first Government Departments toenable online processing of applications.

DGFT website updated on daily basis. All DGFT Offices computerised and networked

to the DGFT NIC Server.

Applications for Export / Import are made onlinewith digital signature and Electronic FundTransfer Facility.


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Home Page of DGFT Website

(return to Next slide in the Main Presentation)


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Higher Support for Market and ProductDiversification

26 new markets added under FMS(16 in Latin America, 10 in Asia-Oceania)

Incentive under FMS raised from

2.5% to 3%.

Incentive under FPS raised from

1.25% to 2%.


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Higher Support for Market and Product Diversification (contd.)

New products under FPS - Engineering products Plastic (value addedproducts), Jute and Sisal products, Technical Textiles, Green Technologyproducts Project goods, vegetable textiles and certain Electronic items.

New products/markets under MLFPS - Pharmaceuticals, Synthetic textilefabrics, value added rubber products, value added plastic goods, textilemadeups, knitted and crocheted fabrics, glass products, certain iron and steelproducts and certain articles of aluminium among others. Benefits to theseproducts will be provided, if exports are made to 13 identified markets (Algeria,Egypt, Kenya, Nigeria, South Africa, Tanzania, Brazil, Mexico, Ukraine,Vietnam, Cambodia, Australia and New Zealand).

The above markets also included for existing products i.e. Auto Components,Motor cars, Bicycles & Parts, Apparels.


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Stability/ continuity of the Foreign TradePolicy

DEPB Scheme extended beyond 31-12-2009 till 31.12.2010.

Interest subvention of 2% for pre-shipment credit for 7 specifiedsectors has been extended till 31.3.2010 in the Budget 2009-10.

Income Tax exemption to 100% EOUs and to STPI units underSection 10B and 10A of Income Tax Act, has been extended for thefinancial year 2010-11 in the Budget 2009-10.

The adjustment assistance scheme initiated in December, 2008 toprovide enhanced ECGC cover at 95%, to the adversely affectedsectors, is continued till March, 2010.

2009 1


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Gems & Jewellery Sector

To neutralize duty incidence on gold Jewellery exports,Duty Drawback to be allowed.

A new facility for import on consignment basis of cut &polished diamonds for the purpose of grading/ certificationpurposes has been introduced [Branch of GemologicalInstitute of America (GIA) at Mumbai has been notified for

the purpose].

In an endeavour to make India a diamond internationaltrading hub, plans are to establish Diamond Bourse (s).

F i T d P li 2009 14


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Pharmaceutical Sector

Pharma sector extensively covered under

MLFPS for countries in Africa and Latin America;some countries in Oceania and Far East.

Export Obligation Period for advance

authorizations issued with 6-APA as inputincreased from the existing 6 months to 36months.

F i T d P li 2009 14


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Agriculture Sector

To reduce transaction and handling costs,a single window system to facilitate exportof perishable agricultural produce hasbeen introduced. The system will involve

creation of multi-functional nodal agenciesto be accredited by APEDA.

F i T d P li 2009 14


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Thrust to Value Added Manufacturing

Coverage of Project Exports and a large number

of manufactured goods under FPS and MLFPS.

To encourage Value Added Manufactured

export, a minimum 15% value addition onimported inputs under Advance AuthorizationScheme has now been prescribed.

F i T d P li 2009 14


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Flexibility provided to exporters

Payment of customs duty for Export Obligation (EO) shortfall allowedthrough debit of Duty Credit scrips. Earlier the payment was allowed in cashonly.

Import of restricted items, as replenishment, shall now be allowed againsttransferred DFIAs.

Time limit of 60 days for re-import of exported gems and jewellery items, forparticipation in exhibitions extended to 90 days in case of USA.

Transit loss claims received from private approved insurance companies inIndia allowed for the purpose of EO fulfillment, as against only public sectorgeneral insurance companies earlier.

F i T d P li 2009 14


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Waiver of Incentives Recovery, On RBISpecific Write off

In cases, where RBI specifically writes off the exportproceeds realization, the incentives under the FTPshall now not be recovered from the exporterssubject to certification by the Indian missions

abroad and the RBI.

F i T d P li 2009 14


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Simplification of Procedures Exemption from payment of excise duty up to two stages rather than refund,

for supply against advance authorisation. Earlier, exemption was allowed uptoone stage only.

Greater flexibility for conversion of Shipping Bills from one Export Promotion

scheme to other scheme. Customs shall now permit this conversion withinthree months, instead of one month stipulated earlier.

Regional Authorities authorised to issue licences for import of sports weaponsby renowned shooters, on the basis of NOC from the Ministry of Sports &Youth Affairs.

The procedure for issue of Free Sale Certificate has been simplified and thevalidity of the Certificate has been increased from 1 year to 2 years.

Automobile industry, having their own R&D establishment, would be allowedfree import of reference fuels (petrol and diesel), upto a maximum of 5 KL perannum.


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CERTIFICATES / AUTHORISATIONS ISSUED BYREGIONAL OFFICES OF DGFT.

IEC Number Authorisations under Duty Neutralization Schemes and Export

Promotion Schemes (Incentive Schemes) Import licences for Restricted Items Export Licences including SCOMET licences

Status Certificates Preferential (GSP) & Non-preferential certificates of origin Tariff rate quota allocation Authorisations for Imports at concessional duty for R& D

purpose for Pharmaceuticals and Bio-technology Sectors

Authorisation for Duty Free import of consumables by Gems &Jewellery Sector

Terminal Excise Duty (TED) refund and Duty Drawback ondeemed exports


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Criteria for recognition of status

Status Category Export PerformanceFOB/FOR Value

(Rupees in Crores)

Export House (EH) 20Star Export House (SEH) 100

Trading House (TH) 500

Star Trading House (STH)2500

Premier Trading House (PTH) 7500

About 4000 Status Holders, including about a dozen PTH.(return to Next slide in the Main Presentation)

M j ib i f CA


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--Status Certificate issuance Export figures (ANF 3A)

-- Duty Neutralisation Schemes:App. 23 for Adv Authorisation & DFIA

EPCG Scheme ANF 5A to 5D; Append. 26 & 26AGems & Jewellery Scheme ANF 4 I

-- Reward Schemes:Export certification for all schemes

-- Turnover cft for Marble import entitlement etc

Major contributions from CAs:

IMPACT OF GLOBAL ECONOMIC CRISIS


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IMPACT OF GLOBAL ECONOMIC CRISIS

MODERATE

Relatively lower share of exports to GDP

Strong demand stimulus Farm Loan waiver Higher food procurement prices Sixth Pay Commission Increased Infrastructure spending

55

Country Share of exports to GDP(Percent)

OECD 58

CHINA 35

INDIA 22


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Impact Assessment

GDP growth figures for India for 2008 is 5.4%; and it hasbeen projected at a higher level of 6.5% for the Year 2009,with due credit to Stimulus Measures announced by theGovernment of India and the RBI.

IIP figures for May, 2009 onwards show that certainindustrial sectors like steel, commercial vehicles, cement,two wheelers, intermediate goods etc have started lookingup.

Rate of decline in export growth is somewhat reducing,which indicates that while the impact of global recession isstill continuing on our exports, the stimulus packages havestarted showing their impact in arresting the steep decline in

exports.


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Details available in the site:

Department of commerce:http://commerce.nic.in

DGFT: http://dgft.gov.in
http://commerce.nic.in/http://dgft.delhi.nic.in/http://dgft.delhi.nic.in/http://commerce.nic.in/


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Thank You

12.12.09 presentation on ftp-icai (4)

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