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ML-FMS for auto sector centers on new markets

There is still gloom in the financial markets. However the automobile sector can earn some sops under the Market Linked Focus Market Scheme (ML-FMS).

Under this scheme, exporters of auto parts like brake linings, gear boxes, drive axles, shock absorbers, radiators, silencers, exhaust pipes, steering wheels, gaskets etc. are in a position to earn a duty credit of 1.25 percent of their free on board on their exports to countries like Argentina, Brazil, Japan, South Africa, Korea RP, Iran and Russia. 

All exports made from April 1, 2008 can avail of this incentive. This scheme was introduced this year so that exports of products of high product intensity can be encouraged where the penetration is low.


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Posted by Naresh Koshti on 6 October, 2008 12:40:28 PM IST #


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