Public Notice No. 47/2023
Dated- 7th March, 2024
In a bid to facilitate smoother import processes for manufacturers focusing on export production, the Ministry of Commerce & Industry, under the Directorate General of Foreign Trade (DGFT) has recently taken a significant step.
Through Public Notice No. 47/2023, issued on March 07, 2024, the DGFT has introduced enabling provisions regarding the import of inputs subject to mandatory Quality Control Orders (QCOs) by Advance Authorisation holders and Export Oriented Units (EOUs).
Key Points
Under the authority granted by paragraphs 1.03 and 2.04 of the Foreign Trade Policy (FTP), 2023, the DGFT has instituted a new Appendix, Appendix 2Y, within the FTP framework. This appendix, effective immediately upon issuance, serves to notify the list of Ministries/Departments exempted from mandatory QCOs for goods intended for use in the manufacture of export products.
The newly created Appendix 2Y includes:
- Ministry of Steel (MoS)
- Department for Promotion of Industry and Internal Trade (DPIIT)
The immediate effect of this Public Notice is the establishment of Appendix 2Y under FTP, 2023. This appendix serves as a crucial reference point for manufacturers, indicating the Ministries/Departments whose notifications on mandatory QCOs have been exempted by the DGFT for goods meant for use in export production.
Conclusion
This development underscores the government’s commitment to simplifying trade procedures and promoting export-oriented manufacturing. By providing clarity on exempted entities from mandatory QCOs, the DGFT aims to streamline import processes, reduce regulatory burdens, and foster an environment conducive to export-driven growth.
Manufacturers, particularly Advance Authorisation holders and EOUs, are encouraged to leverage this development to enhance their operational efficiency and competitiveness in the global market.
To access the Public Notice, click here.
For further clarification or guidance, you may connect with professional DGFT consultants at https://www.dgftguru.com/
