With reference to Foreign Trade Policy (FTP), discuss the key differences between Advance Authorisation Scheme and Duty Free Import Authorisation (DFIA) Scheme.

Key differences between Advance Authorisation Scheme and Duty Free Import Authorisation (DFIA) are as follows: Sr. No. Advance Authorisation Scheme Duty Free Import Authorisation (DFIA) (i) Advance Authorisation is not transferable. DFIA is transferable after export obligation if fulfilled. (ii) Advance Authorisation Scheme requires 15% value addition. In DFIA minimum 20% value addition is required. (iii) Advance Authorisation Scheme is available to Gem and Jewellery Sector. DFIA Scheme is not available to Gem and Jewellery Sector. (iv) Advance Authorisation Scheme is eligible for both Standard Input Output Norms (SION) /Non SION Goods. DFIA Scheme is only for Standard Input Output Norms (SION) Product. (v) Form ANF-4A is required Authorisation Scheme. Form ANF-4H is required for DFIA Scheme. (vi) IGST has been exempted on imports under Advance Authorisation Scheme. No such exemption is available if import under DFIA Scheme. (vii) Fuel is also allowed under Advance Authorisation Scheme. Fuel is not eligible to be imported free under DFIA Scheme.