New Delhi: Following are the highlights of the Exim Policy released on 31 March 2003:

• Duty free import for services with forex earnings of at least Rs 10 lakh (Rs 1 million).
  
• Corporates encouraged to sponsor agri-export zones.
  
• DEPB rate for agro products factor in input costs like fertiliser.
  
• Duty-free import entitlement for status-holders having incremental growth of more than 25 per cent.
  
• Annual advance licence facility for status-holders.
  
• Input-output norms for status-holders within 60 days.
  
• Free movement of professional equipment in STPI.
  
• 100 per cent depreciation to computers and peripherals for three years.
  
• Hardware admissible for duty-free import.
  
• Diamond and jewellery dollar account for exporters’ deal.
  
• Upgrading infrastructure in export clusters.
  
• Export obligation period to be allowed to sick units for rehabilitation.
  
• Quantitative restrictions on 69 import items and five export items withdrawn.
  
• Sales from domestic tariff area to SEZs to be treated as export.
  
• Foreign-bound passengers to be allowed to take goods from SEZs to promote trade.
  
• Domestic sales by SEZ units exempted from SAD.
  
• SEZ units can capitalise import payables.
  
• SEZ units allowed to sell through exhibitions, duty free shops and shops set up abroad.
  
• Duty-free goods for operation of SEZ units.
  
• EOUs to be only net positive forex earners with no export performance requirement.
  
• Export/import through parcel/courier by EOUs allowed.
  
• Gems and jewellery EOUs entitled to advance domestic sales.
  
• Utilisation period of raw materials for EOUs increased to three years.
  
• EPCG scheme allowed import of capital goods for production and post-production facilities.
  
• Import of spares allowed under the EPCG scheme.
  
• Export obligation of 50 per cent for higher product chains done away with.
  
• Capital goods up to 10 years old allowed under the EPCG.
  
• Facility for provisional DEPB rate introduced.
  
• DEPB rates rationalised.
  
• Standard input output norms for 403 new products notified.
  
• Value addition under DFRC scheme reduced to 25 per cent.
  
• High priority accorded to EDI implementation programme to minimise transaction cost.
  
• Actual user condition for import of second-hand capital goods up to 10 years old dispensed with.
  
• Penal interest rate reduced to 15 per cent for old cases of default.
  
• Restriction on export of warranty spares removed.