Foreign Trade Supplement - Low Key Disappointing Fare - Has Commerce Ministry become irrelevant?
THE release of the annual supplement to the Foreign Trade Policy is usually a mega event, closely watched and extensively covered by the pink press and experts of the idiot box. But somehow yesterday's event was a very low-key affair and even the Press Information Bureau did not cover it. The invitation from the PIB stated, “Shri Anand Sharma, Union Minister of Commerce, Industry & Textiles, will address a Press Conference on Thursday, 13th October, 2011 at 12.00 noon at The Ashok, Convention Hall, Chanakyapuri, New Delhi to make announcement on Foreign Trade Policy 2009-14”. The Publishers in the Print Media, who usually bring out their annual supplements, have now nothing to print.
DGFT - First digital signature enabled Government Department: DGFT has become India's first digital signature enabled Department in Government of India, which has introduced a higher level of Encrypted 2048 bit Digital Signature. Digital certificate provides a high level of security for online communication such that only intended recipient can read it. It provides authentication, Privacy, non-repudiation and Integrity in the virtual world. What are the Revenue Departments waiting for?
'Niryat Bandhu' - A scheme for International Business Mentoring: Under the scheme, officers of DGFT will be investing Time and Knowledge primarily to mentor the interested individuals who want to conduct the business in a legal way. Over time, it would be expected to develop a class of businessmen who carry out the international business in an ethical manner. But what is DGFT officers' experience in conducting business?
And the Changes in the FTP:
Additional Duty Credit Scrips @ 1 percent: Export of products to notified countries (in Table 3 of Appendix 37C of HBPv1) will be entitled for additional duty credit scrip @ 1% of FOB value of exports (in free foreign exchange) made with effect from 01.04.2011.; Focus Products notified under Table 8 of Appendix 37D shall be granted additional duty credit scrip @ 1% of FOB value of exports (in free foreign exchange) for exports made with effect from 01.10.2011 till 31.03.2012. – Notification No. , Dated : October 13, 2011
Clubbing of Advance Autorisations: Regional Authorities (RAs) would now allow clubbing of Advance Authorisations. Facility of clubbing shall be available only for redemption / regularisation of cases and no further import or export shall be allowed. For this facility, authorisations are required to have been issued under similar Customs notification even pertaining to different financial years. However, in case of Authorisations issued on or after 1.4.2004, Advance Authorisations with different customs notification can be clubbed. Advance authorisation for annual requirement can also be clubbed with the advance authorisation. This is a decentralising measure. The exporters will not be required to approach DGFT Headquarters. – DGFT Public Notice No. 79(RE-2010)/2009-2014, Dated: October 13, 2011
New Towns of Excellence: Firozabad, Bhubaneswar and Agarthala are added as the new towns of Export Excellence; New products are added to the list of items for Focus Product Scheme - DGFT Public Notice No. 80(RE-2010)/2009-2014, Dated: October 13, 2011
Online Exchange of DFIA between DGFT and Customs: Duty Free Import Authorizations (DFIA) issued on or after 13.10.2011 will be transmitted by DGFT ‘on-line' to Customs. This will not involve any change on the part of exporters/ importers. Accordingly, the existing system of ‘on-line' filing of application for issue of Duty Free Import Authorization (DFIA) would continue without any procedural change. The physical copy of DFIA will continue to be issued, for some more time, so as not to inconvenience any one till a smooth transition is completed. - DGFT Policy Circular No. 41(RE-2010)/2009-2014, Dated: October 13, 2011