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Chapter 1 - Legal Framework and Trade Facilitation - Foreign Trade Policy, 2023

Extract

..... nd Aayat Niryat Forms or amendment thereto, if any, laying down the procedure to be followed by an exporter or importer or by any Licensing/Regional Authority or by any other authority for purposes of implementing provisions of FT (D&R) Act, the Rules and the Orders made there under and provisions of FTP. 1.04 Specific provision to prevail over the general Where a specific provision is spelt out in the FTP/Hand Book of Procedures (HBP), the same shall prevail over the general provision. 1.05 Transitional Arrangements (a) Any License/ Authorisation/ Certificate/ Scrip/ instrument bestowing financial or fiscal benefit issued before commencement of FTP 2023 shall continue to be valid for the purpose and duration for which it was issued, unless otherwise stipulated. (b) Item wise Import/Export Policy is delineated in the ITC (HS) Schedule I and Schedule II respectively. The importability/ exportability of a particular item is governed by the policy as on the date of import/ export. The date of import/ export is defined in para 2.17 of HBP 2023. Bill of Lading and Shipping Bill are the key documents for deciding the date of import and export respectively. In case of change of policy .....

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Chapter 1 - Legal Framework and Trade Facilitation - Foreign Trade Policy, 2023

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..... estment climate through better infrastructure 1.07 DGFT as a facilitator of exports/ imports DGFT has a commitment to function as a facilitator of exports and imports. Focus is on good governance, which depends on efficient, transparent and accountable delivery systems. In order to facilitate international trade, DGFT consults various Export Promotion Councils as well as Trade and Industry bodies from time to time. 1.08 Free passage of Export Consignment Consignments of items meant for exports shall not be withheld/ delayed for any reason by any agency of Central/ State Government. In case of any doubt, authorities concerned may ask for an undertaking from exporter and release such consignment. 1.09 No seizure of export related Stock No seizure shall be made by any agency so as to disrupt manufacturing activity and delivery schedule of exports. In exceptional cases, concerned agency may seize the stock on the basis of prima facie evidence of serious irregularity. However, such seizure should be lifted within 7 days unless the irregularities are substantiated. 1.10 Export of perishable agricultural Products To reduce transaction and handling costs, a single window system to facilita .....

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Chapter 1 - Legal Framework and Trade Facilitation - Foreign Trade Policy, 2023

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..... ne environment. 1.17 Electronic record of export proceeds through eBRC & EDPMS (a) e-BRC (Electronic Bank Realisation Certificate) has enabled DGFT to capture details of realisation of export proceeds directly from the Banks through secured electronic mode. This has facilitated the implementation of various export promotion schemes without any physical interface with the stake holders. (b) RBI has also developed a comprehensive IT-based system called Export Data Processing and Monitoring System (EDPMS) for monitoring of export of goods and software and facilitating AD banks to report various returns through a single platform. RBI EDPMS data available in DGFT IT System can also be used by exporters on DGFT portal. 1.18 IT Initiatives in DGFT DGFT has undertaken a number of IT Initiatives to enable a paperless, contactless and transparent environment for availing benefits under the export promotion schemes with a view to improve the ease of doing business. The details of these initiatives have been provided in Para 1.04 of Handbook of Procedures. 1.19 24 X 7 Helpdesk Facility A dedicated 24 X 7 Helpdesk facility has been put in place to assist the exporters in filing online appli .....

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Chapter 1 - Legal Framework and Trade Facilitation - Foreign Trade Policy, 2023

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..... elated disruption; (v) Reduction in dwell time and related costs; and (vi) Customs advice / assistance if trade faces unexpected issues with Customs of countries with which India have MRA. (b) The AEO programmes have been implemented by other Customs administrations that give AEO status holders preferential Customs treatment in terms of reduced examination, faster clearances and other benefits. Indian Customs has signed MRA with South Korea, Taiwan, Hong Kong and US Customs to recognize respective AEO Programmes to enable trade to get benefits on reciprocal basis. (c) As a step further towards trust-based compliance, Indian Customs has introduced the new/revamped Authorised Economic Operator (AEO) Programme wherein extensive benefits, including greater facilitation and self-certification, have been provided to those entities who have demonstrated internal strong control system and compliance with CBIC. (d) Under the AEO program of Indian Customs, the MSMEs are also covered. For detailed guidelines/procedures, visit https://www. aeoindia.gov.in/and https://www.cbic.gov.in/. 1.23 Towns of Export Excellence (TEE) (a) Objective: Development and growth of export production centres. A nu .....

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Chapter 1 - Legal Framework and Trade Facilitation - Foreign Trade Policy, 2023

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..... shold export performance in the current and preceding three financial years as indicated in para 1.26 of Foreign Trade Policy. However, for Gems & Jewelry Sector above export performance threshold during the current and preceding two financial years shall be required. The export performance shall be counted on the basis of FOB of export earnings in freely convertible foreign currencies or in Indian Rupees as per para 2.53of the FTP. (c) For deemed export, FOR value of exports in Indian Rupees shall be converted in USD at the exchange rate notified by CBIC, as applicable on 1st April of each Financial Year. (d) For granting status, an export performance would be necessary in all the three preceding financial years (and in all the two preceding financial years for Gems & Jewelry Sector). 1.26 Status Holder Categories Status Category Export Performance Threshold In USD Million One Star Export House 3 Two Star Export House 15 Three Star Export House 50 Four Star Export House 200 Five Star Export House 800 1.27 Grant of Double Weightage (a) Double Weightage shall be available for grant of One Star Export House Status category only. Such benefit of double weightage shall not be a .....

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Chapter 1 - Legal Framework and Trade Facilitation - Foreign Trade Policy, 2023

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..... er different preferential trading agreements (PTA), Free Trade Agreements (FTAs), Comprehensive Economic Cooperation Agreements (CECA) and Comprehensive Economic Partnership Agreements (CEPA). Subsequently, the scheme may be extended to remaining Status Holders. Manufacturer exporters who are also Status Holders shall be eligible to self-certify their goods as originating from India as per Para 2.93 (e) of Hand Book of Procedures. (h) Status holders shall be entitled to export freely exportable items (excluding Gems and Jewelry, Articles of Gold and precious metals) on free of cost basis for export promotion subject to an annual limit of Rupees One Crore or 2% of average annual export realization during preceding three licensing years, whichever is lower. For export of pharma products by pharmaceutical companies, the annual limit would be 2% of the average annual export realisation during preceding three licensing years. In case of supplies of pharmaceutical products, vaccines and lifesaving drugs to health programmes of international agencies such as UN, WHO-PAHO and Government health programmes, the annual limit shall be upto 8% of the average annual export realisation during pre .....

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Chapter 1 - Legal Framework and Trade Facilitation - Foreign Trade Policy, 2023

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  1. 07/2023 - Dated: 24-5-2023 - Amendment in Export Policy of broken rice under HS Code 1006 40 00
  2. 06/2023 - Dated: 22-5-2023 - Amendment in Export Policy of Cough Syrup
  3. 05/2023 - Dated: 8-5-2023 - Amendment in import policy condition of Apples under ITC (HS) 08081000 of Chapter-08 of ITC (HS), 2022, Schedule-I (Import Policy)
  4. 04/2023 - Dated: 1-5-2023 - Realignment of RoDTEP Schedule w.e.f 01.05.2023 consequent to amendments made under Finance Bill, 2023.