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Government simplifies norms for exporters to avail benefits of advance authorisation scheme In a positive move for exporters, the government has simplified norms for exporters to avail benefits of an advance authorisation scheme under which free imports of input materials are allowed. The Directorate General of Foreign Trade (DGFT) implements this scheme under the Foreign Trade Policy. The eligibility of inputs is determined by sector-specific norms committees based on input-output norms. To make the norms fixation process more efficient, the DGFT said that it has created a user-...
Government simplifies norms for exporters to avail benefits of advance authorisation scheme
Government simplifies norms for exporters to avail benefits of advance authorisation scheme
Source: Accord Fintech
18/07/2023 10:46:52 AM
DGFT simplifies policy for export of Drones, UAVs for civilian end uses from India In line with the emphasis laid in India's Foreign Trade Policy 2023 on facilitating the export of high tech items, the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, has simplified and liberalized the policy for export of Drones/ Unmanned Aerial Vehicles (UAVs) meant for civilian end uses from India.  All kind/type of drones/UAVs were earlier controlled/restricted for export under the category 5B of the SCOMET (Special Chemicals Organisms Material ...
DGFT simplifies policy for export of Drones, UAVs for civilian end uses from India
DGFT simplifies policy for export of Drones, UAVs for civilian end uses from India
Source: Accord Fintech
26/06/2023 1:47:20 PM
Government eases policy for export of drones meant for civilian end-use To facilitate Indian drone makers to access larger markets and compete on a global scale, the government has simplified and liberalised the policy for export of drones or unmanned aerial vehicles (UAVs) meant for civilian end uses. Accordingly, the Special Chemicals Organisms Material Equipments and Technology (SCOMET) policy of drones meant for civilian use has been amended by the Directorate General of Foreign Trade (DGFT). This decision has been taken in line with the emphasis laid o...
Government eases policy for export of drones meant for civilian end-use
Government eases policy for export of drones meant for civilian end-use
Source: IANS
24/06/2023 9:43:44 AM
Robust, easy trade finance ecosystem crucial for India to achieve $2 trillion exports target by 2030 : S C Aggarwal Talking about India’s capability of exports, Additional Director General of Foreign Trade (DGFT) S C Aggarwal said a robust and easy trade finance ecosystem is important for India to achieve the $2 trillion exports target by 2030. He added that easy availability of affordable trade finance helps promote export competitiveness. He also said that traders and the government have to work on issues like obtaining easy finance both for domestic and cross-border trade. India has set an ambi...
Robust, easy trade finance ecosystem crucial for India to achieve $2 trillion exports target by 2030 : S C Aggarwal
Robust, easy trade finance ecosystem crucial for India to achieve $2 trillion exports target by 2030 : S C Aggarwal
Source: Accord Fintech
9/06/2023 10:04:30 AM
Commerce ministry trying to address exports issues through ecommerce medium: Santosh Kumar Sarangi Pertaining to issues related to the promotion of exports, the Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi has said that the commerce ministry is trying to address these issues through ecommerce medium. He also said that while the $ 2 trillion export target by 2030 is ambitious as it entails an annual growth of 14.5 per cent (CAGR), it is not impossible. He said ‘we are in touch of the Department of Revenue, RBI, Icegate, and the Department of Post on the issues which ...
Commerce ministry trying to address exports issues through ecommerce medium: Santosh Kumar Sarangi
Commerce ministry trying to address exports issues through ecommerce medium: Santosh Kumar Sarangi
Source: Accord Fintech
25/05/2023 12:45:10 PM
India could consider broken rice shipments through diplomatic deals India could consider supplying broken rice to other countries only through diplomatic channels, the Directorate General of Foreign Trade, an arm of the trade ministry, said in an order on Wednesday. India banned overseas shipments of broken rice and imposed a 20% duty on exports of various other grades in September 2022 amid concern over production because of below-average monsoon rainfall in key growing states. China was the biggest buyer of India's broken rice, with purchases of 1...
India could consider broken rice shipments through diplomatic deals
India could consider broken rice shipments through diplomatic deals
Source: Reuters
25/05/2023 9:34:33 AM
Centre unveils foreign trade policy 2023-2028, focus on boosting exports to $2 tn The Centre on Friday unveiled new foreign trade policy for the period 2023 to 2028 with the aim of boosting exports to $2 trillion by 2030, even as trade has been impacted due to fluid geopolitical situation and disrupted supply chains. Commerce Minister Piyush Goyal unveiled the policy in the presence of industry representatives and top officials of the ministry. "I am confident that India's trade will touch $2 trillion exports by 2030," Goyal said after unveiling the pol...
Centre unveils foreign trade policy 2023-2028, focus on boosting exports to $2 tn
Centre unveils foreign trade policy 2023-2028, focus on boosting exports to $2 tn
Source: IANS
31/03/2023 12:59:00 PM
DGFT simplifies process of levying Composition Fee for Export Obligation Extension The Directorate General of Foreign Trade (DGFT) has notified amended rules for implementing all PRC (Policy Relaxation Committee) decisions regarding the levy of Composition Fee. The DGFT has extended the benefit of reduced Composition Fee for cases where it has allowed an extension in EOP (Export Obligation Period) and/or regularisation of exports already made. As per the Ministry of Commerce and Industry, the rationalisation of Composition Fee calculations aids in automation and accel...
DGFT simplifies process of levying Composition Fee for Export Obligation Extension
DGFT simplifies process of levying Composition Fee for Export Obligation Extension
Source: IANS
2/03/2023 9:44:16 AM
No restriction on onion exports, says Centre The Central government has said that it has not restricted or prohibited the export of onions, and that $523.8 million worth of onions from April to December 2022 were exported. The extant export policy of onions is 'free', it has said, adding that only the export of onion seed is 'restricted' and that too is permitted under authorisation from the directorate general of foreign trade (DGFT), the commerce ministry said in a statement. DGFT through its notification issued ...
No restriction on onion exports, says Centre
No restriction on onion exports, says Centre
Source: IANS
26/02/2023 3:48:27 PM
Government lifts ban on organic non-basmati rice exports The government on Tuesday lifted the ban on export of organic non-basmati rice, including broken rice. The Directorate General of Foreign Trade (DGFT) in a notification said that the export of organic non-basmati rice, including organic non-basmati broken rice, will now be governed by rules which were in place prior to the ban imposed in September. The restrictions were lifted as domestic supplies have eased and prices too have seen a moderation. In September, the government had bann...
Government lifts ban on organic non-basmati rice exports
Government lifts ban on organic non-basmati rice exports
Source: IANS
30/11/2022 9:22:00 AM
Government allows export of 60 LMT sugar  In order to stabilise sugar prices and also the financial positions of sugar mills in the country, Government has allowed export of sugar upto 60 lakh metric tonnes (LMT) during the sugar season 2022-23. Directorate General of Foreign Trade (DGFT) has already notified to extend the inclusion of sugar exports under 'Restricted' category up to October 31, 2023. Government has prioritised availability of about 275 LMT sugar for domestic consumption, about 50 LMT sugar for div...
Government allows export of 60 LMT sugar
Government allows export of 60 LMT sugar
Source: IANS
6/11/2022 2:18:23 PM
India will give top priority to national interest in FTA negotiations: Piyush Goyal Union Commerce Minister Piyush Goyal said on Friday that India would accord top priority to national interest in foreign trade agreement (FTA) negotiations, adding that the government won't diverge from this approach for the sake of deadlines. The minister's statement came at a time when India and the UK are trying to finalise their FTA negotiations by Diwali. Goyal was speaking at a meeting held to review India's export performance in the first six months of this financial ...
India will give top priority to national interest in FTA negotiations: Piyush Goyal
India will give top priority to national interest in FTA negotiations: Piyush Goyal
Source: IANS
8/10/2022 9:32:37 AM
Government removes restrictions on displays, camera components: ICEA In a relief for smartphone manufacturers, the Directorate General of Foreign Trade (DGFT) has agreed to remove restrictions on displays and camera modules that were brought in via a DGFT notification on February 9, the India Cellular and Electronics Association (ICEA) said on Thursday. The DGFT, following a meeting between the Ministry of Electronics & IT, Ministry of Finance and Ministry of Commerce & Industry, has agreed to remove restrictions on displays and camera modules. &...
Government removes restrictions on displays, camera components: ICEA
Government removes restrictions on displays, camera components: ICEA
Source: IANS
25/02/2022 9:54:02 AM
DGFT imposes limit on total entitlement under SEIS for shipments made during FY20 The Directorate General of Foreign Trade (DGFT) has imposed a limit on the total entitlement under the Services Exports from India Scheme (SEIS) at Rs 5 crore per exporter for shipments made during 2019-20. Further, it has been notified that the facility to claim benefits under SEIS on payments in Indian rupees would not be available for services rendered in 2019-20. The deadline for submission of SEIS for 2019-20 will be December 31, 2021, and SEIS applications for 2019-20 will become time-b...
DGFT imposes limit on total entitlement under SEIS for shipments made during FY20
DGFT imposes limit on total entitlement under SEIS for shipments made during FY20
Source: Accord Fintech
24/09/2021 4:16:25 PM