Commerce Ministry releases draft export policy

The Ministry of Commerce & Industry has promulgated a new set of product-specific regulations pertaining to India’s exports. A ready reckoner for exporters, the draft policy intends to consolidate the export-specific norms for numerous commodities in operation in various government agencies.

“Based on inputs received from various partner governments, it is proposed to bring out a comprehensive export 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,” stated the Directorate General of Foreign Trade.