{"id":5496,"date":"2023-04-04T17:46:58","date_gmt":"2023-04-04T17:46:58","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=5496"},"modified":"2023-04-04T17:51:34","modified_gmt":"2023-04-04T17:51:34","slug":"foreign-trade-policy-2023-28","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/foreign-trade-policy-2023-28\/","title":{"rendered":"Main Points of India’s\u00a0Foreign Trade Policy 2023-28"},"content":{"rendered":"

\"Highlights\u00a0of<\/h2>\n

Highlights\u00a0of India’s\u00a0Foreign Trade Policy 2023-28<\/strong><\/em><\/a><\/h2>\n

The comments based on the talk by Directorate General of Foreign Trade on presentation of India’s Foreign Trade Policy. The policy document should be studied to validate the main feature. <\/strong><\/p>\n

    \n
  • It is India’s Foreign Trade Policy 2023 (& not 2023-28). There is no end date for the policy.<\/li>\n
  • India’s Foreign Trade Policy would be dynamic and would be changed on need based<\/li>\n
  • Sectors like Textile\/Dairy\/Green sectors is focused.<\/li>\n
  • Special Advance authorization for certain sectors.<\/li>\n
  • Self-ratification for 2-star export house for input output norms.<\/li>\n
  • Lower fees for Micro, Small and Medium Enterprises for application for some scheme.<\/li>\n
  • No Incentive (Merchandise Exports from India Scheme (MEIS) and the Service Exports from India Scheme) but only remission (like RoDTEP) would continue (which is WTO compliant)<\/li>\n
  • Advance Authorization\/ Duty free import Authorisation scheme\/ Export Promotion Capital Goods\u00a0would continue.<\/li>\n
  • One day approval for approval (AA, Export Promotion Capital Goods), revalidation and extension of export obligations. (Instead of three days to one months\u2019 time).<\/li>\n
  • Lower Threshold limits for Star Exports house<\/li>\n
  • Focus on Merchant Trading (buying from third country and selling to 3rd country without touching borders). (But Reserve Bank of India, The Foreign Exchange Management Act, regulations should be relaxed. This needs to be seen).<\/li>\n
  • Four additional towns of excellence (apart from earlier 39 towns of excellence)<\/li>\n
  • District Export Promotions committee to facilitate exports headed by DC of the district coordinated by the Regional Office of Directorate General of Foreign Trade.<\/li>\n
  • Boost to E-commerce. Courier exports limits increase from INR 5,00,000\/- to INR 10,00,000\/-.<\/li>\n
  • There should be E-commerce Export hub and training for small E-commerce exporters. Tech support for E-commerce to linking with Banks for financing.<\/li>\n
  • INR Trading to continue.<\/li>\n
  • Amnesty scheme for default of Advance authorization\/ Export Promotion Capital Goods. Interest limited to 100% of Basic Customs Duty and No interest on Special Additional Duty & Additional Customs Duty.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    Highlights\u00a0of India’s\u00a0Foreign Trade Policy 2023-28 The comments based on the talk by Directorate General of Foreign Trade on presentation of India’s Foreign Trade Policy. The policy document should be studied to validate the main feature. It is India’s Foreign Trade Policy 2023 (& not 2023-28). There is no end date for the policy. India’s Foreign …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[41],"tags":[971],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5496"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=5496"}],"version-history":[{"count":3,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5496\/revisions"}],"predecessor-version":[{"id":5500,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5496\/revisions\/5500"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=5496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=5496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=5496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}