FMS is an export promotion scheme of the government.
Focus Market Scheme is designed to encouragement to make exports to selected markets given certain disadvantages while exporting to these markets. The scheme compensates or offset high freight cost and other disadvantages to select international markets with a view to enhance the country’s export competitiveness in these countries. The scheme was launched in 1st April 2006. It was merged with MEIS as per the 2015 trade policy.
Exporters of all products to notified countries shall be entitled for Duty Credit Scrip equivalent to a particular value (say 3% of FOB value of exports) for each licensing year. Amendments are made later with the addition of more markets. As per the NTP 2015-20, markets were classified into three categories – (a) Traditional markets (EU, USA and Canada), (b) Emerging and Focus Markets and (c) Other markets.
