Following are a few highlights of the new export-import (exim) policy announced today:

• All quantitative restrictions to be removed with effect from April 1.
• The new policy will focus on accelerating export growth to achieve 1 per cent of global trade by 2004-05, with a specific target of 18 per cent for 2001-02.
• Subject to certain conditions, the import of new and second hand automobiles allowed
• Agricultural sector to be promoted through sops for agri-exports through agri-economic zones and agricultural export policy and schemes like duty exemption scheme and export promotion capital goods
• Import of agricultural products like wheat, rice, maize, other coarse cereals, copra and coconut oil has been placed in the category of state trading.
• Standing group to be set up for monitoring import of 300 sensitive items.
• While providing for extension of validity of duty-free replenishment certificates from 12 to 18 months, simultaneously strengthening the annual advance licence scheme as part of changes in Exim Policy.
• Imports of moulds up to full CIF value of licence allowed.
• Automatic approval for FDI in SEZs except for small negative list and SEZ developers to get infrastructure status under Income Tax Act.
• Licence for setting up units for items reserved under SSI not required.
• Rationalisation of duty entitlement passbook scheme rates in line with changes in customs duty proposed in Union Budget.
• Exporter-DGFT interface cut down by reducing number of committees from nine to four.
• Removal of anomalies in customs and excise duty structures with respect to electronic hardware sector.
• Extension of diamond dollar account scheme to diamond-studded jewellery exporters with average annual turnover of Rs 5 crore.
• Gem and jewellery exporters can now carry gems and jewellery of up to $2 million value for overseas exhibitions.
• Value restriction of $20 million for EoU project approval by development commissioner removed.
• Free imports of second hand capital goods up to 10 years old.
• Import of textile materials using prohibited dyes like AZO not allowed.