Nifty99000 100%

Sensex99000 100%

Article rating: 4.0
Tags:
Article rating: 5.0
Tags:
Article rating: 3.7
Tags:
Article rating: 5.0
Tags:
Article rating: No rating
Tags:
Article rating: 5.0
Tags:
Article rating: 3.5
Tags:
Article rating: 4.7
Tags:
Article rating: No rating
Tags:
Article rating: 5.0
Tags:
Article rating: No rating
Tags:
Article rating: No rating
Tags:
Article rating: 5.0
Tags:
Article rating: 4.3
Tags:
Article rating: 4.5
Tags:
Article rating: No rating
RSS

News

Draft export policy ready

Author: PTI/Wednesday, May 29, 2019/Categories: Government

Draft export policy ready

New Delhi - The commerce ministry has come out with a comprehensive draft of the export policy which includes product specific rules with a view to provide a ready reckoner for exporters.

"Based on inputs received from various partner government agencies, it is  proposed to bring out a comprehensive exports policy for all ITC (HS) tariff codes (including items which are 'free' for export and do not currently exist in the policy), covering conditions/restrictions imposed by partner government agencies on exports," the Directorate General of Foreign Trade said.

The draft policy aims at consolidating the export norms for each product as applicable at different government agencies.

ITC-HS Codes are Indian Trade Clarification based on Harmonized System of Coding. It was adopted by India for import-export operations. Every product has been accorded eight digit HS codes.

The compendium will help an exporter know all the applicable norms pertaining to a particular product, helping him/her understand policy conditions for that item.

This exercise is for consolidating the norms and not for making any changes in the existing export policy of the country.

The DGFT said that the updated draft has been prepared by including all existing policy conditions, all notifications and public notices issued after January 2018.

Besides, it also includes non-tariff regulations imposed by different government agencies.

Commenting on the move, exporters body Federation of Indian Export Organisations (FIEO) said that it would provide a "ready reckoner" for traders and help in digitisation.

"It will help exporters in understanding export norms and conditions for items," FIEO Director General Ajay Sahai said.

The directorate has sought views of all stake holders on the draft.

Similar policy exists for import purposes also. While Schedule 1 deals with imports, Schedule 2 deals with export related matters.

Print Rate this article:
No rating

Number of views (109)/Comments (0)

rajyashree guha

PTI

Other posts by PTI
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free