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    DGFT Directorate General of Foreign Trade, which is headed by the Director General of Foreign Trade. The office of the DGFT is responsible for formulating and execution of Exim Policy, including licensing. Formerly (till 1991), was known as the Chief Controller of Imports & Exports (CCI&E).

    EPZs/EOUs EPZ means Export Processing Zones which are special enclaves, separated from the Domestic Tariff Area (DTA), for export production at low cost. EOU means Export Oriented Units. The EOU scheme is complementary to the EPZ scheme, except that it is widely dispersed in location, unlike EPZs, which are set up at specific locations. There are seven EPZs in the country -- at Kandla, Santa Cruz, Falta, Noida, Cochin, Chennai and Visakhapatnam.

    SEZs SEZ means Special Economic Zones. Two new SEZs are being permitted at Pipavav and Tuticorin in the private sector in the private sector besides the four existing EPZs, namely, Santa Cruz, Kandla, Cochin and Visakhapatnam, which are being converted into SEZs

    E-Commerce Refers to electronic commerce. In the context of Exim Policy, e-commerce relates to electronic filing and processing of applications etc.

Duty The Duty Exemption Scheme is for enabling

Exemption import of duty-free imports for export

Scheme production. In includes, inter-alia, Advance

Licence, Duty Entitlement Pass Book and

Replenishment Licence.

Advance Advance Licence is granted to merchant

Licence exporters or manufacturer exports for import of inputs which are required for export production without payment of Basic Customs Duty, subject to export obligation.

DEPB Refers to the Duty Entitlement Pass Book to neutralise the incidence of basic and special customs duty on the import content of export product. This is provided by way of grant of duty credit against the export product at specified rates. Duty Entitlement Pass Book Scheme is now on post-export basis. DEPB on post-export basis is granted against exports already made.

Input-Output The norms which define the amount of Norms input/inputs required to manufacture a unit of output.

Replenishment Refers to Replenishment of such imports as Licence per the input-output norms required for the purpose of export of products.

SIL SIL means Special Import Licences issued under the Policy.

Deemed Refers to those transactions in which the Exports goods supplied do not leave the country and payment for such goods are made in India by the recipient of the goods.

FoB FoB means Free on Board -- i.e., when an exporter delivers goods "free on board", he pays all charges involved in getting them actually onto the ship.

NFE NFE refers to Net Foreign Exchange. Net Foreign Exchange earning is calculated as a percentage of exports (NFEP).

ISO-9000 Refers to international standards, laid down by the International Standards Organisation.

Manufacturer- Manufacturer-exporter means a person who

Exporter exports goods manufactured by him or intends to exports such goods.

Merchant- Merchant- Exporter means a person engaged

Exporter in trading activities and exporting or intending to export goods.

Export Export House/Trading House/Star Trading

House/ House/Super Star Trading House status is

Trading given on the basis of certain eligibility

House etc. criteria laid down in the Policy. The criteria relates to average FoB value and FoB value of exports made during the preceding three licensing years and the preceding licensing year respectively (in rupees) as also average net foreign exchange value and net foreign exchange value of exports made during the preceding three licensing years and the preceding licensing year respectively (in rupees).

Registration- Registration-cum-Membership Certificate

cum- (RCMC) means a certification of registration

Membership and membership granted to an exporter by

Certificate an Export Promotion Council (EPC) or other competent authority.

Value addition Value addition refers to the increment added in the process of manufacture of a particular item, which also becomes part of its price.

QRs QRs mean Quantitative Restrictions. QRs refer to specific limits imposed by countries on the quantity or value of goods that can be imported or exported. QRs are non-tariff measures which are taken to regulate or prohibit international trade. QRs specifically refer to measures such as licensing requirements for exports/imports; quotas, ceilings etc.