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REGISTERED No. D. 221

The Gazette of India

EXTRAORDINARY

PART I—Section 1

PUBLISHED BY AUTHORITY

No. 145] NEW DELHI, FRIDAY, JUNE 15, 1973/JYAISTHA 25,1895

Separate paging is given to this Part in order that it may be filed

as a separate compilation.

MINISTRY OF COMMERCE

PUBLIC NOTICE

IMPORT TRADE CONTROL

New Delhi. the 15th June 1973 SUBJECT.—Import of raw materials, components and spares by actual users in the small scale sector during April 1973—March, 1974—Modes of financing. _ No.l00-ITC(FN)/73.—Attention is invited to the policy for the grant of import licences for raw materials, components and spares to actual users In the small scale sector, as contained in the Import Trade Control Policy (Red Book—Vol I) for the period April, 1973—March, 1974.

2. In terms of the aforesaid policy, import licences for raw materials, components and spares to small scale units tor the licensing period 1973-74 will, unless modified by any further Public Notice, be issued against the modes of financing as indicated in the succeeding paragraphs of this Public Notice.

3. Import licences will be issued against free foreign exchange in the case of units whose entitlement for a licence works out to an amount not exceeding Rs. 5,000/- (irrespective of their export performance).

4. In the case of units whose entitlement for a licence works out to an amount more than Us. 5,000/-, but not more than Rs. 50,000/-, the licences may be given for 50 per cent subject to a minimum of Rs. 5,000/- in free foreign exchange and the balance against U.K. Credit. If such units export 10 per cent or more of their production, they may be given import licences against the modes of financing as indicated for exporting units whose entitlement for a licence works out to an amount more than RE. 50,000/- as indicated in para 5 below.

(851)

5. In the case of units whose Import entitlement exceeds Rs. 50,000/- the modes of financing will also depend on their export performance as indicated below: —

(a) Units which have exported 10 Per tent or more of their production during the calendar year 1972 or financial year 1972-73 and have been granted export performance certificate by the CCI&E.

(i) In the case ol units whose export performance, is less than 25 per cent oj their production, licences will be granted lor 2/3rd of their import entitlements in free foreign exchange and the balance l/3rd under U.K. Credit.

(ii) In the case of units whose export performance is 25 per cent or more, Import licences will be issued for the full import entitlement in free foreign exchange.

(iii) In the case of units (whose export performance during the year 1971 or 1971-72 was 10 per cent or more of their production but less than 25 per cent) having exports during the calendar year 1072 or fin- ancial year 1072-73 for twice the value of their exports during 1971 or 1971-71Z, as the case may be, will be granted import licences for the full import entitlement in free foreign exchange.

(b) In the case of units whose entitlement for a licence exceeds Rs. 50,000/-, and which have not exported 10 per cent of their production during 1972 or 1972-73, the import licence will be issued 50 per cent in free foreign exchange and the balance will be divided equally against U.K. Credit and Rupee payment area.

6. It will also be open to an applicant to opt for conversion of its entitlement of both general currency area and U.K. Credit licences Into rupee payment area. The units who apply for such conversion will be granted import licences by the licensing authorities on rupee payment area for a value equal to twice the entitlement of the unit against general currency and U.K. credit. This facility will not, however, be allowed in cases where only a part of the entitlement is sought to be converted. The units who obtain their licences from rupee payment area under this facility will not be eligible to apply for issue of release orders In respect of canalised Items against converted licences in terms of the provision made in Appendix 69 of the Import Trade Control Policy (Red Book—Vol. I) for April, 1973—March 1974.

7. In cases where release orders are issued in respect of items, the import of which is canalised through Public Sector agencies, the balance entitlement after deducting the vnlue for which release order Is issued to the applicant will be divid- ed into various modes of financing in terms of this Public Notice.

8. In the case of new units Whose entitlement for a licence is upto Rs. 50,000/-, the import licences will be Issued in the manner provided in paragraphs 3 & 4 of this Public Notice. Units having entitlement for a licence higher than Rs. 50,000/- will be eligible to the modes of financing applicable to non-exporting units as indi- cated in paragraph 5(b) above.

S. G. BOSE MULLICK,

Chief Controller of Imports & Exports.

PRINTED BY THE MANAGER, GOVERNMENT OF INDIA PRESS, MINTO ROAD, NEW DELHI AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI, 1 9 73