The new EXIM policy has been formulated focusing on increasing in exports Scenario, boosting production and supporting the concepts like Make in India and Digital India.
Salient Features:
- Reduce export obligations by 25% and give boost to domestic manufacturing supporting the “Make in India” concept.
- As a step to Digital India concept, online procedure to upload digitally signed document by CA /CS / Cost Accountant are developed and further mobile app for filing tax, stamp duty has been developed.
- Repeated submission of physical copies of documents available on Exporter Importer Profile is not required.
- Export obligation period for export items related to defence, military store, aerospace and nuclear energy to be 24 months.
- EXIM policy 2015 – 2020 is expected to double the share of India in World Trade from present level of 3% by the year 2020. This appears to be too ambitions.
