Foreign Trade Policy 2015 - 2020: Relaxations for EOU/SEZ units
Foreign Trade Policy 2015 - 2020 Khaitan & Co The Government of India has released the Foreign Trade Policy (Policy) for the 5 year period between 2015 and 2020 on 1 April 2015. The Policy is aimed simplifying the procedure for doing business in India and facilitating import into and export out of India. The export promotion schemes have been simplified and export obligations against duty free import has been reduced by 25% to promote the “Make in India” initiative of the Government of India. A reconciliatory dispute resolution process has also been introduced to amicably settle disputes between importers and exporters in a time bound manner relating to quality complaints and trade disputes on commercial dealings. The central theme of the Policy is to make India a significant player in world trade by the year 2020. The Policy, together with the proposed introduction of the goods and service tax in 2016, is expected to increase the ease of doing business in India and ac...