Notification No. 45 (RE-2001)/1997-2002, dated January 18, 2002, issued by the Government of India, introduces amendments to the Export and Import Policy, 1997-2002. Under the amended Paragraph 12.12(a), manufacturing companies or industrial houses with an annual manufacturing turnover of Rs 300 crores and Rs 1000 crores, respectively, will be recognized as Star Trading House and Super Star Trading House. These companies must sign a Memorandum of Understanding (MoU) for achieving physical exports over a period of one to three years. Similarly, companies or project exporters with an annual turnover of Rs 100 crores or more will be recognized as Export House or International Service Export House upon signing an MoU for physical exports over the same period. The notification aims to enhance export performance by incentivizing large companies and service providers.
Government of India
Ministry of Commerce and Industry
Department of Commerce
NOTIFICATION No: 45 (RE-2001) 1997-2002
NEW DELHI: the 18th January, 2002
In exercise of the powers conferred by section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.3 of the Export and Import Policy, 1997-2002 (incorporating amendments made upto 31.03.2001), the Central Government hereby makes following amendments in the Export and Import Policy, 1997-2002 (incorporating amendments made upto 31.03.2001).
1) Paragraph 12.12 (a) is amended to read as:
“Manufacturing companies or Industrial houses with an annual manufacturing turnover of Rs 300 crores and Rs 1000 crores in the preceding licencing year shall be recognized as Star Trading House and Super Star Trading House respectively on signing a Memorandum of Understanding in the prescribed form for achieving physical exports as currently prescribed for these categories over a period of one year or the next three years as the case may be. Similarly, companies/ project exporters, domestic service providers with annual turnover of Rs 100 crores or more in the preceding licencing year shall be recognized as Export House and International Service Export House respectively on signing a memorandum of Understanding , in the prescribed form, for achieving physical exports as currently prescribed for this category over a period of one year or the next three years as the case may be.”
This issues in public interest.
(N.L. Lakhanpal)
Director General of Foreign Trade and ex –officio
Additional Secretary to the Government of India
(A Bipin Menon)
Dy Director General of Foreign Trade
(File No: 01/94/180/68/AM02/ PC IV)
