Focus Market Scheme – DGFT notifies list of countries.
Under the Foreign Trade Policy para 3.9, a new scheme called FOCUS MARKET SCHEME was announced with the objective to offset the high freight cost and other disabilities to select international markets with a view to enhance our export competitiveness to these countries.
Under the Scheme, Exports of all products to the notified countries shall be entitled for duty credit scrip equivalent to 2.5% of the FOB value of exports for each licensing year commencing from 1st April, 2006. The scrip and the items imported against it would be freely transferable. The benefits were to be given for exports to certain countries listed in Appendix 37C. But this Appendix 37C was not notified till date. Now the DGFT has notified the appendix with the list of countries.
PUBLIC NOTICE No. Dated :June, 13 2006