KOTTAYAM: The central government has included branded Indian Natural Rubber (NR) in the Market Linked Focus Product Scheme (MLFPS).
According to the foreign trade policy amendment by the ministry of commerce and industry on June 5, Indian NR has been included as the 147th item in the MLFPS. Being included in the list, Indian branded NR exported to Malaysia, China, Turkey, Brazil, Belgium, Italy, Spain, Germany, Sri Lanka, Bulgaria, Austria, Korea, Mexico, Israel, Singapore, Indonesia, Portugal, Argentina, Australia and the US will be incentivized at 2% of the Free On Board (FoB) value of the exports. Branding of natural rubber is the first of its kind concept promoted by any rubber producing countries. Under the revised MLFPS, sectors of high export intensity or employment potential would be incentivized at 2% of the FoB value of exports when exported to the linked markets. The credit scrip would be permitted for the payment of excise duty in domestic procurement.
The Rubber Board is promoting the export of rubber to adjust demand-supply imbalances and to maintain domestic price at a comparable level with international markets.
http://timesofindia.indiatimes.com/city/kochi/Natural-rubber-included-in-govts-Market-Linked-Focus-Product-Scheme-list/articleshow/14164447.cms
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