Exim policy amended

NEW DELHI, December 17: The centre has modified the 1997-2002 export-import (Exim) policy on grant of special import licences (SIL) to export, trading, star-trading and superstar trading houses.

A recent amendment of the policy notified by the Director-General of Foreign Trade says that companies that were recognised as export or trading houses in 1996-97 will also be eligible for SIL on the basis of their exports in the same year. One of the riders is, however, that these exporters had again obtained such a recognition during the period commencing April 1, 1997, and had opted for SIL on the basis of their exports during 1997-98 licensing year.

The benefit of the special licence on the basis of exports during 1996-97 shall be given provided the exporters have not obtained the same as an export or trading house for exports made during 1996-97.