158 HIGH Tech Products get Focus Product Scheme (FPS) Benefit

New Delhi, July 9, 2013: During the Foreign Trade Policy (FTP) announcements on April 18 this year, the Union Commerce and Industry Minister Anand Sharma had mentioned that export of High Tech Products would be incentivised and it would be separately notified. In pursuance of this objective, a Task Force was set up under the Chairmanship of Rajiv Kher, Additional Secretary in Department of Commerce (DoC) to study the list of items eligible for such benefit under Focus Product Scheme (FPS). Commerce and Industry Minister Anand Sharma also convened a meeting with leading Chambers of Commerce and Industry and Export Promotion Councils on July 1 this year for inviting suggestions in this regard as also for increasing India’s exports. The Export Promotion Councils and Chambers of Commerce and Industry were asked to submit their suggestions by July 5 this year.

The report of the committee and suggestions received from Chambers of Commerce and Industry and Export Promotion Councils have been analysed by Department of Commerce (DoC) and it has been decided to include 158 products under Focus Product Scheme (FPS) for incentive @ 2% of the FOB value of exports. Items from Engineering / Electronics, Chemical and Pharma sector have been covered under this list. Such benefits will be admissible for exports made w.e.f. August 15 this year. This list is being notified separately by DGFT.