Review of Exim Policy

Export and Import of goods are regulated as per the provisions of Foreign Trade Policy(FTP).  Indian Trade Classification (Harmonisation System) [ ITC (HS)], 2012 notified under FTP, contains item wise export and import policy of goods which inter alia  are covered under four categories namely, ‘prohibited’, ‘restricted’, ‘trading through State Trading Enterprises’ and ‘free’.  In addition, there are some goods which though are ‘free’ for import/export, but subjected to conditions stipulated in other Acts or laws for the time being in force. Further, Government also prescribes such other conditions/restrictions, as deemed fit, to regulate export/import of specified goods/ commodities e.g. minimum export/import price; quantitative restrictions; port restrictions; quality/standard parameters etc. EXIM Policy of the Government is a dynamic process which is changed/ modified in response to evolving international scenario and domestic conditions. Any change in EXIM Policy of an item is brought about after due consultation/ review by the concerned line Ministry / Department.

ITC (HS), 2012 contains more than 11000 tariff lines and changes in EXIM policy of items or modifications in conditions of importability/exportability of items are brought about through notifications, as published in the Official Gazette and also uploaded on the DGFT’s website (www.dgft.gov.in). Details of such reviews in last 3 years [after notification of the ITC (HS), 2012 on 18.4.2012]  are as tabulated below:

*Data available as on 30.11.2014

This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.