Highlights of new Foreign Trade Policy

 Following are the highlights of the new Foreign Trade Policy that was unveiled by commerce minister Anand Sharma here on Thursday:

• Duty entitlement passbook scheme extended till December 2010
• Extension of sops for export-oriented units till March 2011
• Export target of $200 billion set for 2010-11
• Growth target of 15 percent for next two years, 25 percent thereafter
• Inter-ministerial group to address issues raised by exporters
• Obligation under export promotion capital goods scheme relaxed
• Permission for tax refund scheme for jewellery sector
• No fee on grant of incentives to cut transaction costs
• Steps to help exporters reduce transaction costs
• Plan for diamond bourses in the country
• Single-window scheme for farm exports
• Re-export of unused leather allowed subject to 50 percent duty
• Minimum value addition for tea reduced to 50 percent from 100 percent
• Export units allowed to sell 90 percent of goods in domestic market
• Provision for state-run banks to provide dollar credits
• Twenty-six new markets added to focus market scheme
• Sops under focus market scheme hiked from 2.5 percent to 3 percent
• Number of duty-free samples for exporters raised to 50 pieces from 15
• New directorate of trade remedy measures to be set up
• Zero duty under technology upgrade scheme