Attached offices under Department of Commerce Directorate General of Foreign Trade (DGFT): Prior to 1991, DGFT was largely involved in regulation and promotion of foreign trade through regulation. Subsequently in line with the trend towards liberalisation and globalization, DGFT is playing the role of a facilitator. DGFT is responsible for implementation of the Foreign Trade […]
Considering the extremely dynamic trade environment across the world, India needs to be proactive to make up for lost opportunities and also stay competitive in futuristic sectors. The contours and direction of policy making will play a major role in this regard. Following should be the major focus areas under the roadmap for trade policy […]
The Department of Commerce has taken a number of sector-focussed export initiatives over the past few years to cater to segments that need support or where India has a huge potential. There has been a consistent thrust over the years on MSMEs and labour intensive sectors. Two of the major sectors where the government has […]
The government has an institutional mechanism in place to deal with quality complaints and crack down on erring exporters who do not meet the parameters of quality & standards. Following complaints may be considered: (a) Complaints received from foreign buyers in respect of poor quality of the products supplied by exporters from India; (b) Complaints […]
Prior to the introduction of GST, exporters could claim a duty drawback for tax on inputs for exports of exempted goods. For exports under GST, the duty drawback is available only for customs duty on imported inputs or central excise on some petroleum/tobacco products utilised as inputs for captive power generation. Exports under GST are […]
A number of steps have been taken over the past few years for export promotion & ease of doing business. These include: • Reduction in the number of mandatory documents for imports and exports to 3 each. • Introduction of electronic import-export code (e-IEC) w.e.f. April 2016. • Exporters can source inputs/capital goods without upfront […]
Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs), Software Technology Parks (STPs) & Bio-Technology Parks (BTPs) Businesses can set up units that undertake to export their entire production of goods and services (except permissible sales in the domestic tariff area or DTA), under the Export Oriented Unit (EOU) Scheme, Electronics Hardware Technology Park (EHTP) […]
Duty exemption & remission schemes for Indian exporters provided by the Government of India include Advance Authorisation, Duty Free Import Authorisation and Duty Drawback: Advance Authorisation (AA, which will include Advance Authorisation for Annual Requirement) Advance Authorisation is issued to allow duty free import of inputs that are physically incorporated in the export product (while […]
The Foreign Trade Policy 2015-20 has formulated a number of incentive schemes for Indian exporters. The major schemes announced for exporters are Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS). Merchandise Exports from India Scheme (MEIS) The scheme is available for manufacture and exports of notified goods/products with ITC (HS) […]
The Department of Commerce has the mandate to make India a major player in global trade and assume a role of leadership in international trade organizations commensurate with India’s growing importance. The Department devises commodity and country-specific strategy in the medium term and strategic plan/vision and India’s Foreign Trade Policy in the long run. India’s […]
