The Government of India, through Notification No. 33 (RE-2004)/2004-09 dated April 7, 2005, introduced an amendment to the Foreign Trade Policy (2004-09) under the Target Plus scheme. The amendment inserts Note 1 at the end of Paragraph 3.7.5 (f), which specifies that the changes to the scheme will apply retrospectively to exports made on or after April 1, 2004.
The Target Plus scheme aims to incentivize exporters achieving significant growth in their export performance by granting duty credit scrips. This notification clarifies the applicability of earlier amendments made via Notification No. 27, issued on February 23, 2005. It ensures that exporters are aware of the timeline for eligibility and compliance under the revised provisions.
This update aligns with the government’s objective to streamline export incentive schemes and provide clarity to stakeholders involved in international trade. It is issued under the Foreign Trade (Development and Regulation) Act, 1992, to support trade policy implementation effectively.
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE & INDUSTRY
DEPARTMENT OF COMMERCE
NOTIFICATION NO. 33 (RE-2004)/2004-09
NEW DELHI: the April 7, 2005
S.O(E) in exercise of powers conferred under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with Paragraph 1.3 and 3.7.8 of the Foreign Trade Policy, 2004-09, the Central Government hereby makes the following amendments in the Foreign Trade Policy :
Note 1 is inserted at the end of Para 3.7.5 (f) pertaining to the Target Plus scheme and as amended by the Notification 27 dated 23rd February 2005:
Note 1-The above amendment will be applicable to the exports made on or after 1.04.2004
This issues in Public Interest.
Sd/-
(K.T. CHACKO)
Director General of Foreign Trade and
Ex officio Additional Secretary to the Govt. of India
(Issued from F.No. 1/94/180/Pol.FORM/AM05/PC.IV)
