Foreign Trade Policy: DGFT Amendments, Clarifications, Instructions & other Notifications, Orders, Resolutions, Trade Notices - Issued by Ministry of Commerce & Industry (Department of Commerce) + Related Acts & Rules

The Foreign Trade Policy (FTP) of India is governed by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry, Department of Commerce. The DGFT issues various notifications, amendments, clarifications, instructions, orders, resolutions, and trade notices to implement and regulate the Foreign Trade Policy. These documents provide detailed guidelines, procedural requirements, and policy measures to facilitate and manage foreign trade in India.

Key Documents Issued by DGFT and Department of Commerce

1. Foreign Trade Policy (FTP):

   • The Foreign Trade Policy outlines the government’s policies and measures to promote exports and regulate imports. It is typically revised every five years.
   • The current policy provides various schemes and incentives to exporters, such as the Merchandise Exports from India Scheme (MEIS) and the Service Exports from India Scheme (SEIS).

2. Notifications:

   • Policy Amendments: Notifications related to amendments in the Foreign Trade Policy and Handbook of Procedures, including updates on export promotion schemes, duty remission schemes, and other trade facilitation measures.
   • Regulatory Changes: Updates on regulations governing imports and exports, including changes in import/export licensing, restricted items, and compliance requirements.

3. Circulars and Clarifications:

   • Detailed explanations and clarifications on specific aspects of the Foreign Trade Policy and procedural requirements to ensure compliance and facilitate smooth implementation of policy measures.
   • Responses to queries raised by exporters and importers regarding policy provisions and procedures.

4. Instructions and Orders:

   • Operational instructions and orders issued to regional offices of DGFT and other stakeholders to implement policy measures effectively.
   • Guidelines for the processing of various applications, such as export licenses, duty drawback claims, and incentives under export promotion schemes.

5. Trade Notices:

   • Announcements related to procedural changes, upcoming policy updates, trade fairs, and exhibitions.
   • Notifications regarding the implementation of new schemes, amendments to existing schemes, and important deadlines for compliance.

6. Resolutions:

   • Resolutions regarding the formation of committees, task forces, and working groups to address specific issues in foreign trade and recommend policy measures.

Related Acts and Rules

1. Foreign Trade (Development and Regulation) Act, 1992:

   • The primary legislation governing foreign trade in India. It provides the legal framework for the development and regulation of foreign trade by facilitating imports into, and augmenting exports from, India.

2. Handbook of Procedures:

   • Detailed procedural guidelines for the implementation of the Foreign Trade Policy. It includes step-by-step procedures for availing various benefits and schemes under the policy.

3. Export and Import (EXIM) Policy:

   • Comprehensive policy documents outlining the legal framework, guidelines, and procedures for export and import activities in India.

Key Aspects Covered

• Export Promotion Schemes: Details of various schemes aimed at promoting exports, such as MEIS, SEIS, Advance Authorization Scheme, and Duty Drawback Scheme.
• Import Regulations: Policies and regulations governing the import of goods, including restricted items, prohibited items, and import licensing requirements.
• Trade Facilitation: Measures to ease trade processes, reduce transaction costs, and improve the ease of doing business for exporters and importers.
• Incentives and Benefits: Information on various incentives and benefits available to exporters under different schemes and how to apply for them.