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FTP Refers to Foreign Trade Policy, announced by the Commerce & Industry Minister on 31st August, 2004. It is a 5-year Policy (2004-2009), which provides a stable policy framework. The Annual Supplement 2005 to the Foreign Trade Policy (2004-09) was announced by the Commerce & Industry Minister on 8th April, 2005, and is effective from 1st April, 2005.
Exim Policy Refers to Export and Import (Exim) Policy. Exim Policy got incorporated into the comprehensive Foreign Trade Policy, which was announced by the Commerce & Industry Minister on 31st August, 2004.
DGFT Directorate General of Foreign Trade, which is headed by the Director General of Foreign Trade. The office of the DGFT is responsible for formulating and execution of Foreign Trade Policy, including licensing. Formerly (till 1991), was known as the Chief Controller of Imports & Exports (CCI&E).
EPZs/EOUs EPZ means Export Processing Zones which are special enclaves, separated from the Domestic Tariff Area (DTA), to provide an internationally competitive duty-free environment for export production. EOU means Export Oriented Units. The EOU scheme is complementary to the EPZ scheme, except that it is widely dispersed in location, unlike EPZs, which are set up at specific locations.
SEZs SEZs means Special Economic Zones. So far, 36 new SEZs have been approved for establishment. They are: Manikanchan at Salt Lake, Kolkata (West Bengal); Moradabad (UP); Indore (MP); Sitapur (Rajasthan); Jodhpur (Rajasthan); Mundra (Gujarat); Mahindra City for IT hardware, Chennai (Tamil Nadu); Mahindra City for apparel & fashion accessories, Chennai (Tamil Nadu); Mahindra city for auto ancillaries, Chennai (Tamil Nadu); Positra (Gujarat); Navi Mumbai (Maharashtra) Kopta (Maharashtra); Village Sachin, Surat (Gujarat); Hassan (Karnataka); Vallarpadam (Kerala); Salt Lake Electronic City (Kolkata); Nangunerry (Tamil Nadu); Kalinga-Duburi (Orissa); Gopalpur (Orissa); Kulpi (West Bengal); Bhadohi (UP); Kanpur (UP); Greater Noida (UP); Visakhapatnam (Andhra Pradesh); Dahej (Gujarat); Baikampady (Karnataka); Ranchi (Jharkhand); Greater Noida (UP); Kolkata (West Bengal); Ennore near Chennai (Tamil Nadu); Noida, Gautam Budh Nagar (UP); Icchapur, Surat (Gujarat); Hajira (Gujarat); Kakinada (AP); Sedarapet, Karasur (Pondicherry) for automobiles & auto parts and Sedarapet (Pondicherry) for IT and bio-informatics.
FTWZ Free Trade and Warehousing Zone, a new scheme announced in the Foreign Trade Policy.
AEZs Refers to a scheme of Agricultural Export Zones. So far, 48 AEZs have been approved in 19 States by the Department of Commerce.
BTP BTP means Biotechnology Park as notified by Director General of Foreign Trade on the recommendation of the Department of Biotechnology
STP STP means Software technology Park
E-Commerce Refers to electronic commerce. In the context of Foreign Trade Policy, e-commerce relates to electronic filing and processing of applications etc.
EPCG EPCG refers to the Export Promotion Capital Goods (EPCG) Scheme, which gives the manufacturer facility for import of capital goods for export production at concessional rate of duty (5 per cent) against certain level of export obligation over a period of time.
Duty Allows duty-free import of inputs for exports under Advance Licence,
Exemption Duty Entitlement Pass Book (DEPB) and Duty Free Replenishment
Scheme/Duty Certificate (DFRC) Scheme.
Free Import
of Inputs
Advance Advance Licence is granted for import of inputs without payment of customs
Licence duties. It is issued in accordance with the Policy and procedures in force and subject to fulfilment of time-bound export obligation. Such licences can be issued for import of inputs for use in the export production as well as for replenishment of the inputs already used in the export product.
DEPB Refers to the Duty Entitlement Pass Book to neutralise the incidence of basic customs duty on the import content of export product. This is provided by way of grant of duty credit against the export product at specified rates. The DEPB Scheme which was notified on 1/4/1997 consisted of (a) Post-export DEPB and (b) Pre-export DEPB. The pre-export DEPB scheme was abolished w.e.f. 1/4/2000. Under the post-export DEPB, which is issued after exports, the exporter is given a duty entitlement Pass Book at a pre-determined credit on the FOB value. The DEPB allows import of any items except the items which are otherwise restricted for imports.
Input-Output The norms which define the amount of input/inputs required to
Norms manufacture a unit of output.
DFRC Refers to the Duty Free Replenishment Certificate Scheme which was introduced from 1/4/2000 replacing Transferable Advance Licensing Scheme. The scheme is available to merchant exporters as well as to manufacturer exporters. However, it covers only items which are covered under standard input-output norms notified by DGFT.
Deemed Refers to those transactions in which the goods supplied do not
Exports leave the country and the payment for the goods is received by the
supplier in India.
FoB FoB means Free on Board -- i.e., when an exporter delivers goods "free on board", he pays all charges involved in getting them actually onto the ship.
NFE Refers to Net Foreign Exchange. Net Foreign Exchange earning is calculated as a percentage of exports (NFEP).
ISO-9000 Refers to international standards, laid down by the International Standards Organisation.
Manufacturer- Manufacturer-exporter means a person who exports goods
Exporter manufactured by him or intends to export such goods.
Merchant Merchant- Exporter means a person engaged in trading activities and
Exporter exporting or intending to export goods.
One to With a view to building marketing infrastructure and expertise required for
Five Star export promotion, exporters with certain level of export performance are
Export conferred the status of One to Five Star Export House.
House
Status An exporter recognised as One to Five Star Export House by DGFT/
Holders Development Commissioner for the purpose of benefits and facilitation.
Registration- Registration-cum-Membership Certificate (RCMC) means a certification
cum- of registration and membership granted to an exporter by an Export
Membership Promotion Council (EPC) or other competent authority.
Certificate
Value addition Value addition refers to the increment added in the process of manufacture of a particular item, which also becomes part of its price.
QRs QRs mean Quantitative Restrictions. QRs refer to specific limits imposed by countries on the quantity or value of goods that can be imported or exported. QRs are non-tariff measures which are taken to regulate or prohibit international trade. QRs specifically refer to measures such as licensing requirements for exports/imports; quotas, ceilings etc.
ITC (HS) Refers to Indian Trade Classification (Harmonised System). It is a system of classification of products for the purposes of export and import.
VKUJ Vishesh Krishi Upaj Yojana, a new scheme introduced in the Foreign Trade Policy (2004-2009) as part of the package for agriculture.
SEPC An exclusive Services Export Promotion Council announced in the Foreign Trade Policy to map opportunities for key services in key markets.
ICDs and Inland Container Depots
CFS Container Freight Stations
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