1.

Describe the Salient features of EXIM policy

Answer»

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:

1. Reduce export obligations by 25% and give boost to domestic manufacturing supporting the “Make in India” concept. 

2. 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. 

3. Repeated submission of physical copies of documents available on Exporter Importer Profile is not required. 

4. Export obligation period for export items related to defence, military store, aerospace and nuclear energy to be 24 months. 

5. 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.



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