REGD NO. D L.-33004/99

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY'

No. 694]

NEW DELHI, THURSDAY, AUGUST 1, 2002/SRAVANA 10,1924

2423 GI/2002

( I )

I

THE, UAZbi lUVi- 1MU1A:

fciXTKAUKDlNARY

[PARTII—SEC. 3fji)>

MINISTRY OF COMMERCE AND INDUSTRY

(Department of Commerce)

NOTIFICATION

New Delhi, the 1st August, 2002

No. 11/2002—2007

S.O. 8i8(E).— In exercise of powers conferred by Section 5 of the Foreign Trade (Development and

Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.1 of the Export and Import

Policy, 2002-07, the Central Government hereby amends/ corrects the Export and

Import Policy, 2002-07 as under:

1) Para 2.40 pertaining to "Denomination of Export Contracts" is amended as under:

"All export contracts and invoices shall be denominated either in freely convertible

currency or Indian Rupees but the export proceeds shall be realized in freely

convertible currency only. Contracts for which payments are received through the

Asian Clearing Union (ACU) shall be denominated in ACU Dollar. The Central

Government may relax the provision of this paragraph in appropriate cases. Export

contracts and invoices can be denominated in Indian rupees against EXIM Bank /

Government of India line of credit,"

3

2) Note:l of para 3.7.2 pertaining to "Export Performance Level" is amended as

under;

"Units in Small Scale Industry/Tiny Sector/Cottage Sector/Units registered with KVICs

or KVIBs/ Units located in North Eastern States, Sikkim and J&KJ Units exporting

handloom, handicrafts, hand knotted carpeK silk carpets/exporters holding golder, status/

exporters exporting to countries in Latin America and CIS/sub Saharan Africa, units

having ISO 9000 (series) or ISO 14000 (series) or HACCP Certification or WHO-GMP

or SEI CMM level 2 and above certification status, shall be entitled for export house

status-on achieving average FOB/FOR value of Rs.5 crore during the preceding three

licensing years. The same threshold limit shall be applicable to the service exporters and

agri exporters (other than grains) for obtaining Export house status."

3) Paragraph 4 4.5 (b) is amended as under:

"Silver Jewellery including partly processed jewellery , silver wire, silver strips, and any

article including medallions and coins (excluding the coins of the nature of legal tender

and any engineering goods) containing more than 50% silver by weight;"

This issues in public interest.

[F. No. 01/94/180/26/AM03/PC-IV]

ML LAKHANPAL, Director General of Foreign Trade & Secy.

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