status-holder-scheme

STATUS HOLDER SCHEME – STAR EXPORT HOUSE

DEFINITION

The status holder scheme is for business leaders who have achieved excellence in the world of international trade, and have contributed successfully to India’s foreign trade.

An applicant may be categorized as a status holder once he or she has achieved export performance during the current and previous three financial years. In the Gems & Jewellery Industry, the performance during the current and previous two financial years is considered for recognition as status holder as under:

Status Category Export Performance FOB/FOR (as converted) Value (in US $ million)
One Star Export House 3
Two Star Export House 25
Three Star Export House 100
Four Star Export House 500
Five Star Export House 2000

THE PRIVILEGES:

A Star Export House is eligible for the following facilities:
i) The Licence/certificate/permissions and customs clearances for both imports and exports on self-declaration basis.
ii) It gets fixation of input/output norms on priority within 60 days.
iii) The export house is exempted from compulsory negotiation of documents through banks. The remittance, however, will continue to be received through the banking channels.
iv) The export house can retain 100% foreign exchange in EEFC account.
v) The export houses gets enhancement in the normal repatriation period from 180 days to 360 days.
vi) The export house is entitled for consideration under the Target Plus Scheme.
vii) The export house gets exemption from furnishing bank guarantee in schemes under this Policy.