Sixty-nine items, including animal products, vegetables and spices, antibiotics and films have been removed from the restricted list. Five items -- paddy except basmati, cotton liners, rare earth, silk cocoons and family planning devices except condoms -- have been removed from the restricted list for exports.
Import norms eased for gems & jewellery
Exporters of diamonds and diamond jewellery will be allowed to open dollar accounts. The policy has also allowed gem and jewellery units in SEZs and EOUs to receive precious metals (gold, silver or platinum) equivalent to the value of their exports.
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Sops for entertainment venture capital
The Exim Policy has announced tax incentives for venture capital funds looking to invest in the entertainment sector. As the sector has high export potential, the commerce ministry will ensure adequate funding for it.