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Our Economic Bureau
New Delhi, Nov 27: The ministry of commerce issued a notification on Friday amending the Export-Import policy to accord tourism companies status at par with various exporting companies of various categories.
The notification details the qualifying parameters. However, the entitlement of special import licence will be given on the basis of payments received in free foreign exchange.
The qualifying parameters are as follows: where the average free foreign exchange earning during the preceding three licensing years has been Rs 6 crore the company will qualify for export house status, with the average at Rs 30 crore it will qualify for trading house status, with the average income at Rs 150 crore it will qualify for star trading house status and with an average earning for the last three years at Rs 450 crore it will qualify for super trading house status.
Where free foreign exchange earning during the preceding licensing year has been Rs 9 crore the company will qualify for export house status, with asimilar income of Rs 45 crore it will qualify for trading house status, with an income of Rs 230 crore it will qualify for super trading house status and with an income of Rs 690 crore it will qualify for super star trading house status.
Where the average net free foreign excahnge earned made during the preceding three licensing years has been Rs 5 crore the company will qualify for export house status, with an income of Rs 25 crore it will qualify for trading house status, with an income of Rs 125 crore it will qualify for star trading house status and with an income of Rs 370 crore it will qualify for super star trading house status.
Where the net free foreign exchange income made during the preceding licensing year is in Rs 7 crore then the company will qualify for Rs 7 crore, with an income of Rs 35 crore it will qualify for trading house status, with an income of Rs 180 crore the company will qualify for super trading house status and with anincome of Rs 550 crore it will qualify for super startrading house status.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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