Notification No. 08 (RE 2006)/2004-2009, issued on June 12, 2006, brings amendments to the Target Plus Scheme, which applies to exports from April 1, 2005, to March 31, 2006. The key change is that the entitlement under the scheme now depends on a minimum incremental growth of 20% in the FOB value of exports in the current licensing year compared to the previous one. Additionally, the rate of entitlement is set at 5% of the incremental growth. As a result, the table listing specific entitlements has been removed. These changes aim to streamline the process and ensure that benefits are linked to the growth in export value. The update is made under the Foreign Trade Policy (RE2005), 2004-2009.
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
DEPARTMENT OF COMMERCE
DIRECTORATE GENERAL OF FOREIGN TRADE
NEW DELHI DATED 12th June 2006
NOTIFICATION No. 08 (RE 2006)/2004-2009
S.O.(E) In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 read with paragraph 1.3 and paragraph 3.7.8 of the Foreign Trade Policy, 2004-2009, the Central Government hereby makes the following amendments in the Target Plus Scheme, for the exports effected during 01.04.2005 to 31.3.2006, of the Foreign Trade Policy (RE2005), 2004-2009, as amended from time to time:
1. The first sentence of the Para7.3 is replaced as under:
“The entitlement under this scheme would be contingent on the minimum percentage incremental growth of 20% in FOB value of exports in the current licensing year over the previous licensing year, and the rate of entitlement shall be 5% of the incremental growth.”
2. Consequently the table below the first sentence stands deleted.
This will take effect for exports from 01.04.2005.
This issues in public interest.
Sd/-
(K. T. CHACKO)
Director General of Foreign Trade and
Ex Officio Additional Secretary to the Government of India
(Issued from File No. 01/94/180/172/AM06/PC.I)
