Industrial
Promotion Policies - Central Government
Exim
Policy of India, 2002 - 2007
Introduction
1.1 In exercise of the powers conferred
under Section 5 of the Foreign Trade (Development and
Regulation Act), 1992 (No. x22 of 1992), the Central
Government hereby notifies the Export and Import Policy
for the period 2002-2007. This Policy shall come into
force with effect from 1st April, 2002 and shall remain
in force upto 31st March, 2007 and will be
co-terminus with the Tenth Five Year Plan (2002-2007).
However, the Central Government reserves the right in
public interest to make any amendments to this Policy
in exercise of the powers conferred by Section-5 of
the Act. Such amendment shall be made by means of a
Notification published in the Gazette of India.
Transitional
Arrangements
1.2
Any
Notifications made or Public Notices issued or anything
done under the previous Export/ Import policies,
and in force immediately before the commencement
of this Policy shall, in so far as they are not
inconsistent with the provisions of this Policy,
continue to be in force and shall be deemed to have
been made, issued or done under this Policy. Licence/certificate/permissions
issued before the commencement of this Policy shall
continue to be valid for the purpose for which such
licence/ certificate/permission was issued unless
otherwise stipulated.
1.3
In case
an export or import that is permitted freely under
this Policy is subsequently subjected to any restriction
or regulation, such export or import will ordinarily
be permitted notwithstanding such restriction or
regulation, unless otherwise stipulated, provided
that the shipment of the export or import is made
within the original validity of the irrevocable
letter of credit established before the date of
imposition of such restriction.
Objectives
1.4
The principal
objectives of this Policy are:
(i)
To facilitate
sustained growth in exports to attain a share of
atleast 1% of global merchandise trade.
(ii)
To stimulate
sustained economic growth by providing access to
essential raw materials, intermediates, components,
consumables and capital goods required for augmenting
production and providing services.
(iii)
To enhance
the technological strength and efficiency of Indian
agriculture, industry and services, thereby improving
their competitive strength while generating new
employment opportunities, and to encourage the attainment
of internationally accepted standards of quality.
(iv)
To provide
consumers with good quality goods and services at
internationally competitive prices while at the
same time creating a level playing field for the
domestic producers.
1.5
The objectives
will be met through the coordinated efforts of the
State Governments and all the departments of the
Government of India in general and the Ministry
of Commerce and Industry and the Directorate General
of Foreign Trade and its network of Regional Offices
in particular, with a shared vision and commitment
and in the best spirit of facilitation, in the interest
of promotion of trade in goods and services.
