8/10/2019 IBO-4

1/10

.GENERAL PROVISIONS REGARDING IMPORTS AND EXPORTS

Exports and Imports freeunless regulated

2.1 Exports and Imports shall be free, except in cases where they areregulated by the provisions of this Policy or any other law for the timebeing in force. The item wise export and import policy shall be, asspecified in ITC(HS) published and notified by Director General ofForeign Trade, as amended from time to time.

Compliance with Laws 2.2 Every exporter or importer shall comply with the provisions of the ForeignTrade (Development and Regulation) Act, 1992, the Rules and Ordersmade thereunder, the provisions of this Policy and the terms andconditions of any licence/certificate/permission granted to him, as well asprovisions of any other law for the time being in force. All imported goodsshall also be subject to domestic Laws, Rules, Orders, Regulations,technical specifications, environmental and safety norms as applicable todomestically produced goods. No import or export of rough diamondsshall be permitted unless the shipment parcel is accompanied byKimberley Process (KP) Certificate required under the procedurespecified by the Gem & Jewellery Export Promotion Council (GJEPC).

Interpretation of Policy 2.3 If any question or doubt arises in respect of the interpretation of anyprovision contained in this Policy, or regarding the classification of any

item in the ITC(HS) or Handbook (Vol.1) or Handbook (Vol.2), orSchedule Of DEPB Rate the said question or doubt shall be referred tothe Director General of Foreign Trade whose decision thereon shall befinal and binding.

If any question or doubt arises whether a licence/ certificate/permissionhas been issued in accordance with this Policy or if any question ordoubt arises touching upon the scope and content of such documents,the same shall be referred to the Director General of Foreign Tradewhose decision thereon shall be final and binding.

Procedure 2.4 The Director General of Foreign Trade may, in any case or class ofcases, specify the procedure to be followed by an exporter or importer orby any licensing or any other competent authority for the purpose ofimplementing the provisions of the Act, the Rules and the Orders made

thereunder and this Policy. Such procedures shall be included in theHandbook (Vol.1), Handbook (Vol.2), Schedule of DEPB Rate and inITC(HS) and published by means of a Public Notice. Such proceduresmay, in like manner, be amended from time to time.

The Handbook (Vol.1) is a supplement to the Foreign Trade Policy andcontains relevant procedures and other details. The procedure of availingbenefits under various schemes of the Policy are given in the Handbook(Vol.1).

Exemption from Policy/Procedure

2.5 Any request for relaxation of the provisions of this Policy or of anyprocedure, on the ground that there is genuine hardship to the applicantor that a strict application of the Policy or the procedure is likely to havean adverse impact on trade, may be made to the Director General ofForeign Trade for such relief as may be necessary. The Director General

of Foreign Trade may pass such orders or grant such relaxation or relief,as he may deem fit and proper.

The Director General of Foreign Trade may, in public interest, exemptany person or class or category of persons from any provision of thisPolicy or any procedure and may, while granting such exemption, imposesuch conditions as he may deem fit. Such request may be consideredonly after consulting Advance Licensing Committee (ALC) if the requestis in respect of a provision of Chapter-4 (excluding any provision relatingto Gem & Jewellery sector) of the Policy/ Procedure. However, any such

8/10/2019 IBO-4

2/10

request in respect of a provision other than Chapter-4 and Gem &Jewellery sector as given above may be considered only after consultingPolicy Relaxation Committee.

Principles of Restriction 2.6 DGFT may, through a notification, adopt and enforce any measurenecessary for:-

i Protection of public morals.

ii Protection of human, animal or plant life or health.

iii Protection of patents, trademarks and copyrights and theprevention of deceptive practices.

iv Prevention of use of prison labour.

v Protection of national treasures of artistic, historic orarchaeological value.

vi Conservation of exhaustible natural resources.

vii Protection of trade of fissionable material or material from whichthey are derived; and

viii Prevention of traffic in arms, ammunition and implements of war.

Restricted Goods 2.7 Any goods, the export or import of which is restricted under ITC(HS) maybe exported or imported only in accordance with a licence/ certificate/permission or a public notice issued in this behalf.

Terms and Conditions of aLicence/Certificate/Permission

2.8 Every licence/certificate/permission shall be valid for the period ofvalidity specified in the licence/ certificate/ permission and shall containsuch terms and conditions as may be specified by the licensingauthority which may include:

(a) The quantity, description and value of the goods;

(b) Actual User condition;

(c) Export obligation;

(d) The value addition to be achieved; and

(e) The minimum export price.

Licence/Certificate/Permission not a Right

2.9 No person may claim a licence/certificate/ permission as a right and theDirector General of Foreign Trade or the licensing authority shall havethe power to refuse to grant or renew a licence/certificate/permission in

accordance with the provisions of the Act and the Rules made thereunder.

Penalty 2.10 If a licence/certificate/permission holder violates any condition of thelicence/certificate/ permission or fails to fulfill the export obligation, heshall be liable for action in accordance with the Act, the Rules andOrders made there under, the Policy and any other law for the timebeing in force.

8/10/2019 IBO-4

3/10

About FIEOThe Federation of Indian Export Organisations represents the Indian entrepreneurs spirit of enterprise in the globalmarket. Known popularly as "FIEO", this apex body of Indian export promotion organizations was set up jointly by theMinistry of Commerce, Government of India and private trade and industry in the year 1965. FIEO is thus a partner ofthe Government of India in promoting India's exports...FIEO -I ndia's Premier Institution for International Trade

The Federation of Indian Export Organisations represents the Indian entrepreneur's spirit of enterprise in the globalmarket. set up in October, 1965, the Federation, known popularly as "FIEO", has kept pace with the country'sevolving economic and trade policies, and provided the content, direction and thrust to India's expanding internationaltrade. As the apex body of all Indian export promotion organisations, FIEO works as a partner of the Government ofthe India to promote Indian exports.

Today, FIEO expresses all the dynamism and resurgence that are the hallmark of India's open, liberal andprogressively market-friendly economic and trade regime, representing the Indian export promotion effort in itsentirely. Its membership, largely comprising professional exporting films or long experience called Governmentrecognised Export Houses, Trading Houses, Star Trading Houses and Super Star Trading Houses and Consultancyexporting firms, contributes 72 % of the total exports of India.

In essence, FIEO represents directly or indirectly, over 100,000 exporters across India. Exports by FIEO memberscomprise a wide spectrum of products including Gems & Jewellery, Textiles, Garments, Engineering Goods, Leatherand Leather Products, Handicrafts, Chemicals and allied products, Cosmetics, Drugs and Pharmaceuticals, etc. as

well as a wide range of Consultancy Services covering Infrastructure, Engineering, Industries, Cement, Leather,Paper & Rubber Industries. Agro-based Industries, Small Scale Industries etc. The activities of our members alsoinclude manufacturing, international trading, investment and joint ventures etc. To any foreign investor, user or seller,FIEO is the one-stop organisation which will put him in touch with a trade partner or high repute, backed by its owncredentials as an organisation of excellence in India.

FIEO has forged strong links with counterpart organisations in several countries as well as international agencies toenable directcommunication and interaction between India and world businessmen. It is registered with UNCTAD as a nationalnon-Governmentorganisation, and has direct access to information/data originating from UN bodies and world agencies like the IMF,ADB, ESCAP,WORLD BANK, FAO, UNIDO and others. In addition, it has bilateral arrangements for exchange of information aswell as for liasioning with several overseas chambers of commerce, and trade and industry associations.

How FIEO has Developed :Today the Federation is proud of the fact that its members accounts for an estimated exports of US$ 24.3 billion outof the total India's export of US$ 33.0 billion. It shows for itself an achievement which notes that approximately 73.6 %of the total exports from India emanate from FIEO members. This enviable position has been reached rapidly in avery short span, albeit with a long legacy behind it. It was in the year 1965 that this Federation came into being withthe support of Ministry of Commerce. Government of India and private trade and Industry. It has now graduated to alevel of organisation providing global link to exporters and working as a 'nerve centre' of Indian exports.

FIEO ACTIVITIESWhat FIEO Specifically achievesThe Federation keeps its members posted with the latest developments in the field of Export / Import by organisingSeminars andWorkshops, Inviting delegations, organising Buyer-Seller meets in India and abroad. Trade Fairs, providing advisoryand consultative services and bringing about constant interaction between member exporters and variousGovernment departments. The end result of such activity is discussion of issues in depth, evolving of suitable actionplans to promote Indian exports, formulation and dissemination of government policies pertaining to all sectors inmanufacturing and merchant exporting and apprising Government on problems and suggesting remedial measures.

What FIEO doesWhen Federation was constituted in 1965, certain economic realities had taken shape in India. There was greaterindustrialisation,centralised planning and Government controls. Side by side, there existed a buoyant and thriving private sector. Thusthere was anurgent need for :

8/10/2019 IBO-4

4/10

Wider exchange of views between allied industies in public as well as the private sectors. Apprising all concerned bodies of Status of exports. Monitoring the effects of Government policies on Exports - Imports. Interacting with the Government on behalf of the exporting community.

Basically, the Federation fulfills the above needs in these three ways :

Sending representations on policy matters to Central and State (Regional) Governments. Providing a wide range of services designed to help member companies Creating and setting up contracts between Government and Commercial Bodies both in India and overseas.

These needs are achieved through the following departments :

Total Quality Management L(TQM) DepartmentThe TQM department is dedicated to help industries to launch quality initiatives. It organises workshops/ seminars onTQM, ISO etc.FIEO Information Centre

It has a well established database and provides useful information on India's Export sector both at the company and

industry level,

Indian city-wise, state-wise etc. India's Imports commodity-wise, port-wise etc. is also made available. Assistance tobuyers abroad in sourcing the right product from India is also provided.

Electronic Data Interchange and EDP Department

The Government of India has targeted January1998 to implement EDI with all the departments engaged in

international trade. The

task of this department has thus increased manifold in its effort to provide awareness and education on EDI to India's

private trade and industry. Training, consultancy and host of other services on EDI is also provided.

As a part of the awareness and educational programme, FIEO has launched an electronic network, viz. FIEONET for

the India's private trade and industry. It facilitates fast and low cost communication facilities. Non-members can also

avail of the facility.

Market Development Assistance (MDA) DepartmentThe Ministry of Commerce, Government of India, through FIEO, reimburses to a certain percentage, expenses

incurred by the recognised exporters, viz. Super Star Trading Houses / Star Trading Houses / Trading Houses /

Export Houses on account of Sale-cum-Study Tour.

Participation in Exhbitions / Fairs abroad, Bringing out publications for use abroad and advertisement in foreign media

(Brand Publicity).The Market Development Assistance Department takes care of the grant disbursement.

Exim Policy, Customs and Excise Department

The department offers advisory services on India's Export-Import Policy, Customs and Excise rules and regulations.

Takes up the

problems of the exporters on this areas with the appropriate authorities. Monitors and suggests the Government of

India on the

various policies, laws, rules and regulations.

Market Research and Development Department

The Market Research Department as a part of its business facilitation effort offers the exporting community :

i) Meetings with diplomats, incoming delegations and buying missions

ii) Inviting delegations

iii) Organising trade fairs abroad to project Indian Products (recently organised fairs in Morocco, Moscow, St.

Petersburg, Tunisia)

iv) Opening of foreign offices and warehouses

8/10/2019 IBO-4

5/10

v) Organising seminars for promotion of International Trade

vI) Preparation of country notes / studies

vii) Opening of new FIEO Chapters / Offices abroad

viii) Signing Memorandum of Understandings (MOU) with International Chambers & Institutions for trade promotion

Banking and Direct Taxes Division

The Banking and Direct Taxes Division offers advisory services to exporters on matters related to exchange Controland Foreign

Exchange Dealers Association of India (FEDAI). It also provides information to exporters regarding benefits available

under Income-tax Act, 1961 such as section 80 HHC for merchandise exports 80 HHC for software, etc. 80 HHB for

projects.

It also takes up problems of exporters regarding exports finance, and issue related to Exchange Control and FEDAI.

It organises open houses / workshops etc. with the concerned Government officials of RBI, Banker etc. for exporter to

have a face to face interaction to resolve their problems on the spot.

Fiscal incentives aimed at import duty neutralisation for export production has to a large extent lost attraction forexporters, since import duties have been brought down to Asean levels in most cases. In consultations betweencommerce and finance ministry on the Exim policy, the latter has underlined that any new direct fiscal incentive for

exports may not be WTO-compliant and may be considered as subsidies by buying nations. Instead, it would beprudent to step up spends on generic export promotion focussed on specific products in new markets to maintainexport growth.

Citing the example of the duty free entitlement passbook (Depb) scheme, commerce ministry officials pointed out thatthis will be allowed to continue till 2010. By that time introduction of Goods and Services Tax (GST) and phasing outof CST will make the scheme redundant. Even as things stand now, exporters do not find entitlement rates under thepassbook scheme attractive, since import duties are at the lowest levels.

Officials in the ministry and export promotion councils said that with little leeway on fiscal incentives, the Exim policywill increase funding for individual exporters and export organisations for more intensive marketing than they are noweligible under MDA and MAI.

Since both these schemes are framed for 'focus products, focus countries,' products and countries where marketing

expenses will be eligible for funding too may be expanded.

Under MAI, marketing projects undertaken by export organisations and EPCs are funded by the government. Thismay include a range of activities like setting up warehouses, showrooms, publishing of catalogues, expenses incurredin meeting statutory regulations in buying countries and conducting market surveys.

Under MDA, individual exporters are funded, subject to certain ceilings for marketing drives in 'focus countries'. Thefunds are disbursed through respective EPCs of exporters. The focus countries where exporters are eligible for fundsinclude, Africa, CIS and Asean along with Australia and New Zealand .

The forthcoming Exim policy is expected to include more countries to this list and also increase limits of funds thatexporters will be eligible for marketing projects submitted by them.

Financial sufficiency is core to export competitiveness. New exporters face significant start-up costs as they gatherinformation on foreign markets, develop marketing channels, adapt products andpackaging to foreign tastes, andlearn to deal with new bureaucratic procedures. Market and government failures mean that these 'sunk costs' barfirms from joining the export markets.

Fiscal and financial policy incentives for export competitiveness is an unfolding area of research. Current literaturecovers topics such as exchange rates and tax-based policy incentives, duty drawbacks and bonded warehousefacilities, and smart subsidies like export loan subsidies, export credit guarantees and matching grants.

8/10/2019 IBO-4

6/10

Case Studies

India Trade Promotion Organisation (ITPO) , the premier trade promotion agency of the Govt. of India for

organizing trade fairs, is committed to showcase excellence achieved by the country in diverse fields

especially trade and commerce. ITPO as the nodal trade promotion agency of the country has had a

pioneering role in the national trade growth dynamics since its inception. Apart from its role in bringing the

Indian businesses, particularly those in the MSMEs sector, closer to global markets, it was first to

popularize trade fairs as a tool of trade p romotion within the country. For nearly three & half decades, it is

managing India's world class exhibition complex that is constantly upgraded to keep it in a high standard of

readiness.

India Trade Promotion Organisation (ITPO), headquartered atPragati Maidan,is the nodal agency of

theGovernment of Indiaunder aegis ofMinistry of Commerce and Industry (India)for promoting country's externaltrade. ITPO is a Schedule-BMiniratnaCentral Public Sector Enterprise (CPSE)[14]

with 100 percent shareholding ofGovernment of India.

ITPO renewed its Memorandum of Understanding (MoU) with Ministry of Commerce & Industry for the year 2013-14on 20 March 2013

[15].The major highlight of the MoU are:

Projected surplus of 100 Crore by ITPO during FY 2013-14.

Investment proposal to be submitted for the redevelopment of Pragati Maidan into a modern and state-of-the-artintegrated Exhibition-cum-Convention Centre, to the Union Cabinet for approval.

Other Targets: 850 man-days of training to its both senior and other employees during FY 2013-14 and reductionof electricity water consumption by 5 percent and 10 percent respectively.

In 2011-12, ITPOs performance was evaluated by the Department of Public Enterprises (DPE) as the best among allthe CPSEs under the administrative control of the Department of Commerce (DoC) namely MMTC, STCI, PEC andECGCI. Based on provisional performance, ITPO is expected to retain the Excellent rating in 2012-13.

[16]

History[edit]

India Trade Promotion Organisation (ITPO) was incorporated by merger of Trade Development Authority (TDA), aRegistered Society under the administrative control of the Ministry of Commerce & Industry, with The Trade FairAuthority of India (TFAI) with effect from 1 January 1992. TFAI was earlier incorporated, under Section 25 of theIndian Companies Act, 1956, on 30 December 1976 by amalgamating 3 organizations of the Government of India viz.India International Trade Fair Organization, Directorate of Exhibitions and Commercial Publicity and Indian Council ofTrade Fairs and Exhibitions and commenced operations with effect from 1 March 1977.

[17]ITPO, during its existence

of more than 3 decades has played a proactive role in catalysing trade, investment and technology transfer

processes. Its promotional tools include organizing of fairs and exhibitions inIndiaand abroad, Buyer-Seller Meets,Contact Promotion Programmes, Product Promotion Programmes, Promotion through Overseas Department Stores,Market Surveys and Information Dissemination.

[18]

The plot where Pragati Maidan had come up more than 30 years ago was actually conceived as a space for a districtpark, according to the Master Plan of Delhi.This means that there couldn't be any remodeling or addition to theexhibition area. RecentlyDelhi Development Authority(DDA) changed landuse ofPragati Maidanfrom 'recreationalDistrict Park' to Public & Semi-public Facilities (International Convention Centre)

[19].Plans to modernisePragati

Maidanhad been floated by ITPO some years ago, the revamp hit a glitch. However, ITPO has once again startedplanning & liasoning for redevelopment ofPragati maidanin late 2012 by appointing Advisor-cum-Project

http://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Ministry_of_Commerce_and_Industry_(India)http://en.wikipedia.org/wiki/Ministry_of_Commerce_and_Industry_(India)http://en.wikipedia.org/wiki/Ministry_of_Commerce_and_Industry_(India)http://en.wikipedia.org/wiki/Miniratnahttp://en.wikipedia.org/wiki/Miniratnahttp://en.wikipedia.org/wiki/Miniratnahttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-14http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-14http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-14http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-15http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-15http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-15http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-16http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-16http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-16http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=1http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=1http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=1http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-17http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-17http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-17http://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-18http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-18http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-18http://en.wikipedia.org/wiki/Delhi_Development_Authorityhttp://en.wikipedia.org/wiki/Delhi_Development_Authorityhttp://en.wikipedia.org/wiki/Delhi_Development_Authorityhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-19http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-19http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-19http://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/w/index.php?title=Pragati_maidan&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Pragati_maidan&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Pragati_maidan&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Pragati_maidan&action=edit&redlink=1http://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-19http://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Delhi_Development_Authorityhttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-18http://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-17http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=1http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-16http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-15http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-14http://en.wikipedia.org/wiki/Miniratnahttp://en.wikipedia.org/wiki/Ministry_of_Commerce_and_Industry_(India)http://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Pragati_Maidan

8/10/2019 IBO-4

7/10

Management Consultants (APMC). The proposal is pending for cabinet approval and budget sanctions as onOctober-2013.

[20]

Ministry of Home Affairs has recently given in-principle approval for deployingCentral Industrial Security Force(CISF)to provide round-the-clock security at the Pragati Maidan campus.A special vehicle-borne and sophisticated armsequipped squad of the force will be deployed at Pragati maidan complex to respond to any terror attack like situation.Access control to the exhibitions area will be monitored by another team of the squad with help from private securityguards.

[21]

Sphere of Activities[edit]

ITPO has been managing thePragati Maidanexhibition complex inNew Delhiand has established it as a renowneddestination for holding exhibitions, conventions, seminars, business meets and other trade promotion activities. Thepresent Pragati Maidan complex is in the centre ofDelhiwith excellent connectivity by road,Delhi MetroandDelhiBus Rapid Transit Systemand has close access to central government offices and hotels. The world renownedHallof Nations,Hall of Industries and Nehru Pavilion inPragati Maidanwas designed by iconic architectRaj Rewalalongwith architect Kuldip Singh in 1971-72. Later on Hall of States were designed by architect Raj Rewal in 1981-82.Other iconic structures than surroundPragati MaidanareNational Science Centre, Delhinear Gate No.1 ofPragatiMaidandesigned by architectsAchyut Kanvindeand Hindustan Lever Pavilion by architectCharles Correain 1961.

The existing infrastructure ofPragati Maidanincludes about 60,000 sq.m. of covered exhibition space with additionalopen space in a campus of approx. 123.5 acres, a modern air conditioned food plaza with seating capacity for 500plus persons, open and covered auditoriums with a combined capacity for 5500 and 1000 persons respectively,

lounge areas, business centre facilities to support trade promotion related activities. The existing facilities are beingused by various Ministries/Departments of Government of India, State Governments and Industry to present theirpolicies, initiatives and achievements by supporting/holding exhibitions, conventions and other trade related events.

ITPO has an extensive infrastructure as well as marketing and information facilities that are availed by both exportersand importers. ITPO's overseas offices assist buyers seeking information relating to sourcing products from India.ITPO had had overseas offices at New York, Frankfurt, Tokyo, Moscow and So Paulo for pursuing opportunities forenhancement of India's trade and investment. However, all overseas offices are now closed by ITPO. ITPO has fourRegional Offices at Bangalore, Chennai, Kolkata and Mumbai. The Regional Offices, through their respective profileof activities, ensure a concerted and well coordinated trade promotion drive throughout the country.

The Main Activities & Services of ITPO are:[22]

Managing the extensive trade fair complex, Pragati Maidan in the heart of Delhi

Organisingvarious trade fairs and exhibitions at its exhibition complex in Pragati Maidan and other centers in India.

Facilitating the use of Pragati Maidan for holding of trade fairs and exhibitions by other fair organisers both fromIndia and abroad.

Timely and efficient services to overseas buyers in vendor identification, drawing itineraries, fixing appointments andeven accompanying them where required.

Establishing durable contacts between Indian suppliers and overseas buyers.

Assisting Indian companies in product development and adaptation to meet buyers' requirements.

Organising Buyer-Seller Meets and other exclusive India shows with a view to bringing buyers and sellers together.

Organising India Promotions with Department Stores and Mail Order Houses abroad.

Participating in overseas trade fairs and exhibitions.

Arranging product displays for visiting overseas buyers.

Organising seminars/conferences/workshops on trade-related subjects.

Encouraging small and medium scale units in export promotion efforts.

Conducting in-house and need-based research on trade and export promotion.

Enlisting the involvement and support of the State Governments in India for promotion of India's foreign trade.

Trade information services through electronic accessibility at Business Information Centre.

http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-20http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-20http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-20http://en.wikipedia.org/wiki/Central_Industrial_Security_Forcehttp://en.wikipedia.org/wiki/Central_Industrial_Security_Forcehttp://en.wikipedia.org/wiki/Central_Industrial_Security_Forcehttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-21http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-21http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-21http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=2http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=2http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=2http://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/New_Delhihttp://en.wikipedia.org/wiki/New_Delhihttp://en.wikipedia.org/wiki/New_Delhihttp://en.wikipedia.org/wiki/Delhihttp://en.wikipedia.org/wiki/Delhihttp://en.wikipedia.org/wiki/Delhi_Metrohttp://en.wikipedia.org/wiki/Delhi_Metrohttp://en.wikipedia.org/wiki/Delhi_Metrohttp://en.wikipedia.org/wiki/Delhi_Bus_Rapid_Transit_Systemhttp://en.wikipedia.org/wiki/Delhi_Bus_Rapid_Transit_Systemhttp://en.wikipedia.org/wiki/Delhi_Bus_Rapid_Transit_Systemhttp://en.wikipedia.org/wiki/Delhi_Bus_Rapid_Transit_Systemhttp://en.wikipedia.org/wiki/Hall_of_Nationshttp://en.wikipedia.org/wiki/Hall_of_Nationshttp://en.wikipedia.org/wiki/Hall_of_Nationshttp://en.wikipedia.org/wiki/Hall_of_Nationshttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Raj_Rewalhttp://en.wikipedia.org/wiki/Raj_Rewalhttp://en.wikipedia.org/wiki/Raj_Rewalhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/National_Science_Centre,_Delhihttp://en.wikipedia.org/wiki/National_Science_Centre,_Delhihttp://en.wikipedia.org/wiki/National_Science_Centre,_Delhihttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Achyut_Kanvindehttp://en.wikipedia.org/wiki/Achyut_Kanvindehttp://en.wikipedia.org/wiki/Achyut_Kanvindehttp://en.wikipedia.org/wiki/Charles_Correahttp://en.wikipedia.org/wiki/Charles_Correahttp://en.wikipedia.org/wiki/Charles_Correahttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-22http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-22http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-22http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-22http://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Charles_Correahttp://en.wikipedia.org/wiki/Achyut_Kanvindehttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/National_Science_Centre,_Delhihttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Raj_Rewalhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Hall_of_Nationshttp://en.wikipedia.org/wiki/Hall_of_Nationshttp://en.wikipedia.org/wiki/Delhi_Bus_Rapid_Transit_Systemhttp://en.wikipedia.org/wiki/Delhi_Bus_Rapid_Transit_Systemhttp://en.wikipedia.org/wiki/Delhi_Metrohttp://en.wikipedia.org/wiki/Delhihttp://en.wikipedia.org/wiki/New_Delhihttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=2http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-21http://en.wikipedia.org/wiki/Central_Industrial_Security_Forcehttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-20

8/10/2019 IBO-4

8/10

Subsidiaries[edit]

ITPO has two subsidiaries namely Karnataka Trade Promotion Organisation (KTPO)[23]

and Tamil Nadu TradePromotion Organisation (TNTPO)

[24]with share holding of 51% in each of them. With the commissioning of the state-

of-the-artChennai Trade Centre(CTC) in January 2001 and the Trade Centre Bangalore in September 2004, ITPOhas successfully completed the first phase of the setting-up of modern exhibition facilities outside Delhi. The ChennaiTrade Centre which addresses a long-felt need for a permanent and modern exhibition venue in Tamil Nadu, has

already emerged as a hub of trade-related activities in the region, and is all set for a major expansion of triplicating itscapacity.

ITPO also coordinated the construction of exhibition-cum-trade complex 'Maniram Dewan Trade Centre' for AssamTrade Promotion Organisation

[25]at Sarusajai, Guwahati under 'Assistance to Sates for Developing Export

Infrastructure and Allied Activities (ASIDE)'[26]

Scheme, for facilitating trade in North-Eastern States. The Industry andCommerce Department of Assam in association with ITPO developed the project spread over an area of 10 acres.Under Phase-I of development, Maniram Dewan Trade Centre consists of 3 fully air-conditioned halls of 800 sq.m.each, entrance lobby and plaza and mini convention-cum-conference room.

ITPO has a 50:50 Joint subsidiary withNational Informatics Centre(NIC) in the form of National Centre for TradeInformation (NCTI) in 1995 for collection and dissemination of trade data and improving Business InformationServices to the business community, especially SME.

[27]

In a recent development, ITPO is in primary discussions with Government of Kerala and Kerala IndustrialInfrastructure Development Corporation (KINFRA) for setting up an Trade Fair-cum-Convention Centre

atKochi,Kerala

[28]

.ITPO is also helping Pimpri. Chinchwad New Town Development Authority (PCNTDA), whoseofficials visited Pragati Maidan in September-2013, in setting up the proposed Pune International Exhibition andConvention Centre at Moshi (Pimpri-Chinchwad).

[29]

Strategic Issues[edit]

ITPO is operating a trade portal www.tradeportalofindia.com having all trade related information including countryprofiles, product profiles, trade directory etc. ITPO is networking with International Organisation in the field of Tradeand Commerce through membership or collaborative arrangements such as Memorandum of Understanding (MoU),ITPO is a founder member of Asia Trade Promotion Forum (ATPF) and participates in its Annual meets regularly.

National Productivity Council (NPC), New Delhi awarded a consultancy project to ITPO to prepare Detailed ProjectReport (DPR) for organizing Eco-Product International Fair (EPIF) atPragati Maidan.The DPR contained anoverview of eco-friendly fair in Asia, drill for organizing EPIF, monitoring of important activities of EPIF, budgetestimates, revenue generation and details of MoU between ITPO and NPC.

[30]

A MoU was signed between ITPO and Qatar Tourism Authority of the State of Qatar in April 2012 for cooperation inholding the exhibitions. The MoU aims to strengthen the bilateral relations between the two countries throughdeveloping the means of cooperation in the field of organising exhibitions based on the mutual interests of theirrespective countries. Both of the organisations have agreed to forge long-term cooperation in planning, developingand training, marketing and promotion and encourage the organisation of holding reciprocal exhibitions.MediaReport

ITPO has signed MoU with (MOU)Department of Science & Technology(DST), Government of India in September2012 for holding National Level Exhibition and Project Competitions (NLEPCs) under the Innovation in SciencePursuit for Inspired Research ( INSPIRE) scheme.

[31]

In order to facilitate bilateral ties, ITPO has signed MoU with theTrade Development Authority of Pakistan(TDAP).The MoU would cover exchange of information relating to business activities, conduct market research,implementation of bilateral trade promotion activities and organise training programmes plus exchange of experts.After signing MoU between TDAP and ITPO, along with FICCI have held a successful India Show from 1113February 2012 at Expo Centre, Lahore. 2012. Under the MoU, Lifestyle Pakistan 2012 show was hosted in New Delhiin April 2012. In addition, TDAP and ITPO have also planned participation in five ITPO organised fairs in 2012-13.

[32]

To facilitate Indian Industry and to bring synergy, ITPO has signed MoU with various Chambers of India. ITPO hassigned MoU with Federation of Indian Chambers of Commerce & Industry (FICCI)to collaborate on trade promotion.The MOU is directed towards coordinated joint efforts to promote India's trade identifying the internal strengths of therespective organisations. The MOU is an effort towards attaining synergy through harnessing the strengths of bothITPO and FICCI, both of whom are engaged in the promotion and enhancement of Indian trade. To implement theMOU, a Steering Committee consisting of two nominees each from ITPO as well as FICCI is being constituted.

[33]

http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=3http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=3http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=3http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-23http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-23http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-23http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-24http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-24http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-24http://en.wikipedia.org/wiki/Chennai_Trade_Centrehttp://en.wikipedia.org/wiki/Chennai_Trade_Centrehttp://en.wikipedia.org/wiki/Chennai_Trade_Centrehttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-25http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-25http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-25http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-26http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-26http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-26http://en.wikipedia.org/wiki/National_Informatics_Centrehttp://en.wikipedia.org/wiki/National_Informatics_Centrehttp://en.wikipedia.org/wiki/National_Informatics_Centrehttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-27http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-27http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-27http://en.wikipedia.org/wiki/Kochihttp://en.wikipedia.org/wiki/Kochihttp://en.wikipedia.org/wiki/Kochihttp://en.wikipedia.org/wiki/Keralahttp://en.wikipedia.org/wiki/Keralahttp://en.wikipedia.org/wiki/Keralahttp://en.wikipedia.org/wiki/Keralahttp://en.wikipedia.org/wiki/Pimpri-Chinchwadhttp://en.wikipedia.org/wiki/Pimpri-Chinchwadhttp://en.wikipedia.org/wiki/Pimpri-Chinchwadhttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-29http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-29http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-29http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=4http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=4http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=4http://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-30http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-30http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-30http://www.dailypioneer.com/vivacity/56908-itpo-signs-mou-with-qatar-tourism.htmlhttp://www.dailypioneer.com/vivacity/56908-itpo-signs-mou-with-qatar-tourism.htmlhttp://www.dailypioneer.com/vivacity/56908-itpo-signs-mou-with-qatar-tourism.htmlhttp://www.dailypioneer.com/vivacity/56908-itpo-signs-mou-with-qatar-tourism.htmlhttp://en.wikipedia.org/wiki/Department_of_Science_%26_Technology_(India)http://en.wikipedia.org/wiki/Department_of_Science_%26_Technology_(India)http://en.wikipedia.org/wiki/Department_of_Science_%26_Technology_(India)http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-31http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-31http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-31http://en.wikipedia.org/wiki/Trade_Development_Authority_of_Pakistanhttp://en.wikipedia.org/wiki/Trade_Development_Authority_of_Pakistanhttp://en.wikipedia.org/wiki/Trade_Development_Authority_of_Pakistanhttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-32http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-32http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-32http://en.wikipedia.org/wiki/FICCIhttp://en.wikipedia.org/wiki/FICCIhttp://en.wikipedia.org/wiki/FICCIhttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-33http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-33http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-33http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-33http://en.wikipedia.org/wiki/FICCIhttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-32http://en.wikipedia.org/wiki/Trade_Development_Authority_of_Pakistanhttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-31http://en.wikipedia.org/wiki/Department_of_Science_%26_Technology_(India)http://www.dailypioneer.com/vivacity/56908-itpo-signs-mou-with-qatar-tourism.htmlhttp://www.dailypioneer.com/vivacity/56908-itpo-signs-mou-with-qatar-tourism.htmlhttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-30http://en.wikipedia.org/wiki/Pragati_Maidanhttp://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=4http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-29http://en.wikipedia.org/wiki/Pimpri-Chinchwadhttp://en.wikipedia.org/wiki/Keralahttp://en.wikipedia.org/wiki/Keralahttp://en.wikipedia.org/wiki/Kochihttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-27http://en.wikipedia.org/wiki/National_Informatics_Centrehttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-26http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-25http://en.wikipedia.org/wiki/Chennai_Trade_Centrehttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-24http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-23http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=3

8/10/2019 IBO-4

9/10

ITPO has also signed MoU with theConfederation of Indian Industry(CII) in April 2011, directed towards a collectiveand well-directed effort to promote India's trade identifying the internal strengths of the respective organisations. TheMOU provides for mutual cooperation in the areas of knowledge-based services, market studies, organising seminarsand workshops, mobilising participation for trade fairs, organising presentation meetings, popularising the newRegional Trade Promotion Centres and events in various States of India. To implement the MOU, a SteeringCommittee is being constituted consisting of nominees from ITPO and CII. To mark the beginning of thesecollaborative efforts, CII and ITPO decided to jointly hold an exclusive Indian exhibition in September 2012 at So

Paulo (Brazil). Further, CII and ITPO would be jointly organising yet another Indian exhibition at Lagos, Nigeria duringthis financial year. These events are being planned in markets which are, currently, relatively untapped but holdsignificant export potential for India.

[34]

ITPO signed MoU withNational Book Trust,India for conductingNew Delhi World Book Fairevery year, starting fromFebruary-2013.

[35]This replaced the existing once-in-two-years World Book Fair.

In its bid to provide an added boost to the gem and jewellery industry, ITPO signed an MOU with the Gems &Jewellery Export Promotion Council (GJEPC) on 13 February 2013 to launch the first India Gems & Jewellery Fair(IGJF) in April 2013 at the Pragati Maidan.

[36]

ITPO is to participate in 18th Addis Abeba Chamber of Commerce & Sectoral Association (AACCSA) InternationalTrade Fair to be held at Addis Abeba Exhibition Center and Market Development Enterprise (AACMDE), located atMeskel Square. ITPO attended the 17th edition of the fair with 44 companies, the largest international contingent inthe fair. Indian companies have been playing a prominent role in investment since 1990. Currently, close to 450Indian companies have investment licences in Ethiopia, with a combined investment capital of five billion dollars,

according to data from AACCSA. Negotiations with the AACCSA are underway, and if all goes well, both partiescould sign an MOU in August 2013.[37]

ITPO went into agreement withMinistry of Rural Developmentfor organizing Aajeevika Divas.[38]

Similar agreement isrecently done with Department of Disability Affairs for organizing Swavlamban, a four-day National Fair on Aid &Assistive Devices.

[39]

ITPO recently signed MoU with Visvesvaraya Industrial Trade Centre (VITC), Karnataka in May 2013 with theobjective of co-operating with each other to carry forward the objectives of their respective organizations for mutualbenefit and achievement of common goals of promoting the industry and exports from the region. The areas coveredunder the MoU are to Exchange information on each others area of activities, identify potential products markets andintroduce to each other opportunities for cooperation and partners for investment and trade, cooperate in organizingand participate in trade promotion activities, both within and outside India. interact periodically to formulate strategiesto enhance trade and exports and review the progress achieved and provide each other with consultancy serviceswithin their scope of business service.

Financials[edit]

ITPO registered an increase of about 68 crores in total income during FY 2011-12 which went up to about 374crores from about 305 crores during FY 2010-11. The net profit of the company skyrocketed to about 183 crores,an impressive increase of about 158 percent over the previous year profit of about 78 crores. The company ishaving a Total Assets exceeding 1100 crores and more than 1050 employees.

[40]The Company is registered under

Section 25 of the Companies Act, 1956 and so it does not declare any dividend.

Logo[edit]

ITPO logo was designed by eminent Graphic Designer Benoy Sarkar in 1974 for the erstwhile Trade Fair Authority ofIndia. The logo has an interesting depiction of letters T (Trade) and F (Fair). The tone is a fusion of preservation oftraditions of Trade and Investments along with modern identity of ITPO. The logo has a universal form. It signifies anauthority of India exercising trade through fairs and exhibitions in India and abroad.

[41]The emblem has been derived

from an inscription on a gold coin belonging to the era of the ancient ruler, Samundragupta( circa 330-380 A.D.)symbolising the zenith achieved in external trade.The vertical and horizontal strokes in the symbol represent life and

prosperity

http://en.wikipedia.org/wiki/Confederation_of_Indian_Industryhttp://en.wikipedia.org/wiki/Confederation_of_Indian_Industryhttp://en.wikipedia.org/wiki/Confederation_of_Indian_Industryhttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-34http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-34http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-34http://en.wikipedia.org/wiki/National_Book_Trusthttp://en.wikipedia.org/wiki/National_Book_Trusthttp://en.wikipedia.org/wiki/National_Book_Trusthttp://en.wikipedia.org/wiki/New_Delhi_World_Book_Fairhttp://en.wikipedia.org/wiki/New_Delhi_World_Book_Fairhttp://en.wikipedia.org/wiki/New_Delhi_World_Book_Fairhttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-35http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-35http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-35http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-36http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-36http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-36http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-37http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-37http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-37http://en.wikipedia.org/wiki/Ministry_of_Rural_Development_(India)http://en.wikipedia.org/wiki/Ministry_of_Rural_Development_(India)http://en.wikipedia.org/wiki/Ministry_of_Rural_Development_(India)http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-38http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-38http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-38http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-39http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-39http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-39http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=5http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=5http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=5http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-40http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-40http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-40http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=6http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=6http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=6http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-41http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-41http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-41http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-41http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=6http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-40http://en.wikipedia.org/w/index.php?title=India_Trade_Promotion_Organization&action=edit&section=5http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-39http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-38http://en.wikipedia.org/wiki/Ministry_of_Rural_Development_(India)http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-37http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-36http://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-35http://en.wikipedia.org/wiki/New_Delhi_World_Book_Fairhttp://en.wikipedia.org/wiki/National_Book_Trusthttp://en.wikipedia.org/wiki/India_Trade_Promotion_Organization#cite_note-34http://en.wikipedia.org/wiki/Confederation_of_Indian_Industry

8/10/2019 IBO-4

10/10

c) Export of deoiled /defatted cakes

Banks are permitted to grant packing credit advance to exporters of HPS groundnut and deoiled /defatted cakes to the extent of the value of raw materials required even though the value thereof

exceeds the value of the export order. The advance in excess of the export order is required to be

adjusted either in cash or by sale of residual by-product oil within a period not exceeding 30 daysfrom the date of advance to be eligible for concessional rate of interest.

(iii) Banks have, however, operational flexibility to extend the following relaxations to theirexporter clients who have a good track record:

a) Repayment / liquidation of packing credit with proceeds of export documents will continue;

however, this could be with export documents relating to any other order covering the same or

any other commodity exported by the exporter. While allowing substitution of contract in this

way, banks should ensure that it is commercially necessary and unavoidable. Banks should alsosatisfy themselves about the valid reasons as to why packing credit extended for shipment of a

particular commodity cannot be liquidated in the normal method. As far as possible, thesubstitution of contract should be allowed if the exporter maintains account with the same bank

or it has the approval of the members of the consortium, if any.

b) The existing packing credit may also be marked-off with proceeds of export documentsagainst which no packing credit has been drawn by the exporter. However, it is possible that theexporter might avail of EPC with one bank and submit the documents to another bank. In view of

this possibility, banks may extend such facility after ensuring that the exporter has not availed of

packing credit from another bank against the documents submitted. If any packing credit hasbeen availed of from another bank, the bank to which the documents are submitted has to ensure

that the proceeds are used to liquidate the packing credit obtained from the first bank.

c) These relaxations should not be extended to transactions of sister / associate / group concerns.