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Foreign Trade Policy 2015-20 FTP 2015-20 which was to end on 31.3.2020 was extended due to COVID pandemic and volatile geo-political scenario till 31.03.2023.

India has reach record high Export Performance in Merchandise and Services Exports during this period. India's Merchandise and Services exports is expected to cross record USD 760 Billion in FY2022-23. FTP 2015-20 contributed to this illustrious export performance.

New Foreign Trade Policy 2023

Policy changes were being undertaken since 2015 even without announcement of a new FTP responding dynamically to the emerging situations. 

The Foreign Trade Policy 2023 is being announced to provide the policy continuity and a responsive framework. Subsequent revision(s) in the FTP shall be done as and when required and shall not linked to any date. Continous feedback from Trade and Industry to streamline processes and update Policy & procedures. 

New FTP Approach

1. From Incentives to Tax Remission

2. Greater Trade facilitation through technology, automation, and continuous process re-engineering.

3. Export promotion through collaboration: Exporters, States, Districts.

4. Focus on Emerging Areas – ECommerce Exports, Developing Districts as Export Hubs, Streamlining SCOMET policy etc.

Key FTP Highlights

1. Ease of doing business, reduction in transaction cost and e-initiatives

1.1 Online approvals without physical interface

1.2 Reduction in user charges for MSMEs under AA and EPCG

1.3 E-Certificate of Origin

1.4 Paperless filing of export obligation discharge applications

2. Export promotion initiatives

2.1 Status Holder Export Thresholds Rationalised

2.2 Merchanting trade reform

2.3 Rupee payment to be accepted under FTP Schemes

2.4 Towns of Export Excellence 

3. Districts as Export Hubs initiative

3.1 States and Districts as partners in export promotion

3.2 Capacity building at district level

3.3 Infrastructure and logistics development intervention

4. E-Commerce Exports

4.1 Facilitation for E-Commerce exports

4.2 Dak Niryat facilitation

4.3 E-Commerce Export Hubs

5. Steps to Boost Manufacturing

5.1 Prime Minister Mega Integrated Textile Region and Apparel Parks (PM MITRA) scheme has been added as an additional scheme eligible to claim benefits under CSP(Common Service Provider) Scheme of Export Promotion capital Goods Scheme(EPCG).

5.2 Dairy sector to be exempted from maintaining Average Export Obligation – to support dairy sector to upgrade the technology.

5.3 Battery Electric Vehicles (BEV) of all types, Vertical Farming equipment, Wastewater Treatment and Recycling, Rainwater harvesting system and Rainwater Filters, and Green Hydrogen are added to Green Technology products – will now be eligible for reduced Export Obligation requirement under EPCG Scheme

5.4 Special Advance Authorisation Scheme extended to export of Apparel and Clothing sector under para 4.07 of HBP on self-declaration basis to facilitate prompt execution of export orders – Norms would be fixed within fixed time-frame.

5.5 Benefits of Self-Ratification Scheme for fixation of Input-Output Norms extended to 2 star and above status holders in addition to Authorised Economic Operators at present.

5.6 Fruits and Vegetables exporters are being included for double weightage for counting export performance under eligibility criteria for Status House certification. This is in addition to existing MSME sector who also get double weightage.

6. Special one-time Amnesty Scheme for default in Export Obligations

6.1 In the interest of trade and industry and to motivate the exporters, relief to be provided to exporters who are unable to fulfill their EO against the EPCG and Advance Authorizations. 

7. Emphasis on streamlining SCOMET Licensing Procedure

7.1 Focus of FTP 2023 on Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET)

Way Forward

1. Foreign Trade Policy to be dynamic and responsive to the emerging trade scenario.
2. Wider Engagement with States and Districts to promote exports from the grassroots.
3. Focus on E-commerce exports to streamline processes and make it easier for exports to grow in e-commerce space.
4. Sector specific targets to achieve the goal of a one trillion-dollar merchandise exports by 2030.
5. Consultative mechanism to resolve issues of trade and Industry.
6. Work towards making Indian Rupees a global currency and facilitating International Trade settlement in INR.
7. Restructuring of Department of Commerce to make it future ready.

Curtesy: DGFT, Ministry of Commerce and Trade, Govt. of India

Tags: #ftp2023 #dgft #export #import #vorabook

Log on regularly to vorabook.com for knowledge based requirements on Foreign Trade Policy 2023.

Global Business Academy provides one stop exim solution for Legal compliance Services, Documentation and Consultancy in Foreign Trade.

New Delhi, Mar 30 (PTI) India will unveil its much-awaited new Foreign Trade Policy 2023-28 on Friday, with a view to boost exports amid slowing global trade.

Commerce and Industry Minister Piyush Goyal will announce the foreign trade policy, according to the ministry.

The existing Foreign Trade Policy 2015-2020 which was valid up to 30 September 2022, further extended till 31st March 2023 by DGFT, Ministry of Commerce and Industry, Government of India through Notification No. 37/2015-2020 Dated 29 September 2022.

CUSTOMS BROKERS EXAMINATION, 2022

Customs Brokers Licensing Regulations, 2018, these regulations shall apply to, a Customs Broker who has been licensed and such other persons who have been employed or engaged by a licensed Customs Broker under these regulations or the Customs House Agents Licensing Regulations, 1984 or the Customs House Agents Licensing Regulations, 2004 or the Customs Brokers Licensing Regulations, 2013.

Applications are invited from Indian citizens to appear in the online written examination for issuance of license to act as a Customs Broker under Customs Brokers Licensing Regulations (CBLR), 2018, as amended. A copy of the regulations is available at CBIC and NACIN

BUY NOW  GUIDE TO CBLR EXAM 2021 BY A.BALACHANDRA BHARATHI ON VORABOOK.COM 

Complete application is to be submitted in person or by Registered/ Speed Post in Form-A (available in the CBLR, 2018) along with two passport size photos and self attested documents on citizenship (Aadhaar/ Passport/ Voter Card), educational qualification, financial viability, mobile number, e-mail id and other requirements along with the prescribed fee of Rs.500/- (Rupees five hundred only) to the Principal Commissioner/ Commissioner of Customs/ Commissioner of Customs (Prev), having jurisdiction over the area where the applicant intends to carry on his business from 18.10.2021 to 18.11.2021 till 06.00 PM. Applications sent by post, in case received after the last date shall not be entertained.

Before submitting the application, applicant should ensure the completeness of the application. Incomplete applications shall be summarily rejected. 

Syllabus of written examination will be as per regulation 6(7) of CBLR, 2018. 

Names of applicants found eligible to appear in examination will be displayed on the notice board and/or website of the respective Commissionerate 29.11.2021.

Information regarding roll number, admit card and examination venue will be made available on the website of CBIC and NACIN under the icon/tab . A link to download the admit card will also be provided therein. Admit cards shall also be sent by email to eligible applicants 15 days in advance before the date of examination. The written examination shall be held in the month of MARCH-2022. 

The candidates have the option to answer either in Hindi or in English.

Successful candidates will be called for an oral examination for which separate communication will be sent.

In case declarations and information submitted by the applicant are found to be incorrect, the application shall be rejected or license, (if issued) shall be cancelled.

For any query, please visit the websites (www.cbic.gov.in and www.nacin.gov.in)/ contact the nearest Customs Commissionerate/ this office @ e-mail id: cblre.helpline@gmail.com. 

 

BUY NOW 

REGULATION 6 EXAM 2021 PREPARATION BOOK FOR CUSTOMS BROKERS

Note:

Kindly note this information are  provided to the viewers of the vorabook.com from the official notice published on https://www.cbic.gov.in/Customs-Notifications on 26th August 2021.

For the Exporters and Importers, for the Manufacturers and Suppliers, for the next generations Billionaires and  for those who want to Trade around the world through hard work and inspiration, Global Business Academy provides the Expertise and Experience you can trust to get the job done —and we have since 1990.

We consult Exporters to claim incentives under Foreign Trade Policy of Government of India on FOB value in the form of duty credit script such as Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, Merchandise Exports from India Scheme (MEIS) & Service Exports from India Scheme (SEIS).

We have full time expert team functioning at Mumbai and New Delhi for Registration, Licensing procedures and Authorization, Trading of Licenses and for taking up matters on behalf of the industry at the highest level in crucial Central Government Ministries at New Delhi and their regional offices at Mumbai for below mentioned services.

·         Registration with DGFT Regional Authorities, Promotion council etc.

(IEC, RCMC, REX, ID Card, Trademark, FSSAI, SIMS, No Incentive Claim for Re Import,

Free Sale and Commerce Certificate used for medical equipment)

·         Authorized Economic Operator (AEO)

·         Import of capital goods @Zero duty (EPCG).

·         Import of Raw material @Zero duty (Advance Authorization).

·         Export House status Reorganization (One – Five star status certificates).

·         Deemed Export.

·         Import/Export items in restricted categories.

·         Duty Drawback (MEIS, SEIS, RoDTEP, RoSCTL).

·         Redemption/EODC of Advance and EPCG Authorization.

·         Revalidation of Authorization/Licenses.

·         Enhancement in CIF/FOB value.

·         Issuance of Duplicate Authorization is/are Misplaced/Lost.

·         Payment of Duties+ Interest in case of shortfall in EO.

·         Issuance of Abeyance in case of DEL status.

·         Sale/Purchase of Transferable License (for payment of basic custom duty in Imports).

·         Digital Certificate

The things you value most can be protected by our Digital Signature services. And the goods you trade in, the services you provide in, the incentives you consume, all of these most likely came to you via one of our professional consultancy!

It all started in the 90’s…Would you believe we started out as a small book store in Mumbai? It’s true. Way back in 1990 we were called Vora Book Stall. With the beginning of 20’s our founder Shri. Vadilal Vora and their sons Shri. Jitendra Vora, Shri. Praful Vora and Shri. Kiran Vora changed the small store into exclusive book showroom for professionals as a Vora Book House.

Over the years as we gained expertise and knowledge about foreign trade and related proceedings. In 2000 we came together as the Global Business Academy a leading foreign trade consultant in Mumbai near DGFT RA. Known for enjoying the trust of many reputed export and import houses who rely on our reliable professional services in a time bound manner at affordable cost with state of the art solution from our total 100+ years of experience.

We remain driven by a passion for excellence and a commitment to serve the traders of the world. It’s not complicated. We just focus on what matters. Simply the Expertise that you can Trust, Afford and Excel.

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Keywords:

• Foreign Trade Policy.
• Directorate General of Foreign Trade (DGFT).
• Importer Exporter Code (IEC).
• Registration cum Membership Certificate from EPC (RCMC).
• Registered Exporter System for certification of Origin of Goods EU Exports (REX/GSP).
• Food Safety and Standards Authority of India (FSSAI)
• Steel Import Monitoring System (SIMS)
• Authorized Economic Operator (AEO)
• Export Promotion Capital Goods (EPCG)
• Merchandise Exports from India Scheme (MEIS)
• Service Exports from India Scheme (SEIS).
• Remission of Duties or Taxes on Export Products ( RoDTEP ).
• Rebate of State & Central Taxes and Levies Scheme ( RoSCTL ).