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Best Export (Non Traditional) Schemes

Export schemes to your aid to scale up your business

Tags: export

BY Entrepreneur  |  Mar 24, 2011 comments ( 0 ) |

Apart from usual US and Europe markets, there are other nontraditional exports markets also. Focus Market Scheme, Focus Product Scheme and Market Linked Focus Product Scheme are three schemes to help exporters find buyers easily in the other market. At the same time, also avail of incentives for exporting to these countries.

1.    FMS: Under this scheme, 52 African countries, 31 Latin American countries, Ten commonwealth of Independent States, Central African Republics, 5 East European countries, 11 Asia-Oceania block countries and one Asian country have been notified for benefit on exports of all products (excluding certain ineligible categories of products/items mentioned)

2. MLFPS: Under the MLFPS in the Foreign Trade Policy, several non-traditional export markets in Africa, Middle East Asia, East Asia, Latin America, Central Asia such as Algeria, Egypt, Kenya, Nigeria, South Africa, Tanzania, Brazil, Mexico, Ukraine, Cambodia, Vietnam, Qatar, Singapore, Bahrain, Kuwait, Bangladesh, Philippines, Saudi Arabia, Iran, Korea PR, Japan and China have been notified for benefit on exports of select products.

The Government of India closely monitors the economic development in the country and internationally on a continuous basis, and need based measures are taken from time to time, keeping in view the financial and overall economic implications. To boost performance of the export sectors various measures have been taken by the Government and the Reserve Bank of India in the form of stimulus packages including the announcements made in the Budget 2009-10 and 2010-11. To increase our share and diversify the markets and products, incentives have been provided under Schemes, viz. Focus Market Scheme [FMS], Focus Products Scheme [FPS], Market Linked Focus Product Scheme [MLFPS] and Vishesh Krishi And Gram Udyog Yojana [VKGUY]; in the Foreign Trade Policy (FTP) 2009-14, thereafter in January and in March 2010; in the Annual Supplement to FTP released on 23rd August, 2010; and in announcement made in February, 2011.

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