Executive Summary:
This notification amends the import policy conditions for cashew kernels (broken and whole) under the Foreign Trade Policy 2015-2020. It revises the minimum CIF value for import of these items. The notification was issued on June 12, 2019, by the Directorate General of Foreign Trade, Ministry of Commerce and Industry.
Key Points / Main Content:
* **Subject:** Amendment in import policy conditions of cashew kernels (broken/whole).
* **Authority:** Issued under Section 3 of the Foreign Trade (Development and Regulation) Act, 1992.
* **HS Codes Affected:**
* 08013210 - Cashew kernel, broken
* 08013220 - Cashew kernel, whole
* **Policy Change:**
* Cashew kernel, broken: Import is free if the CIF value is above Rs. 680 per KG (previously, import was free with a minimum CIF value of Rs. 288 per KG).
* Cashew kernel, whole: Import is free if the CIF value is above Rs. 720 per KG (previously, import was free with a minimum CIF value of Rs. 400 per KG).
* **Effect of Notification:** Increased minimum import price of cashew kernels (broken/whole).
Impact Analysis:
**Importers of Cashew Kernels (Broken and Whole)**
* *Impact:* Increased cost of importing cashew kernels due to the higher minimum CIF value requirement for free import.
* *Action Required:* Re-evaluate import pricing strategies to account for the revised minimum CIF values, ensuring compliance with the new regulations.
**Consumers of Cashew Kernels**
* *Impact:* Potential increase in the price of cashew kernels in the domestic market.
* *Action Required:* Monitor price fluctuations to make informed purchasing decisions.
**Directorate General of Foreign Trade (DGFT)**
* *Impact:* Responsible for implementing and monitoring the revised import policy.
* *Action Required:* Ensure effective communication and enforcement of the new policy conditions.
Key Entities Referenced
Foreign Trade Policy 2015-2020: A trade policy governing import and export activities, referenced in the context of amendments and regulations.
Foreign Trade Development and Regulation Act, 1992: The governing law that empowers the Central Government to make amendments to import policies.
ITC HS, 2017, Schedule I: Indian Trade Classification based on Harmonized System of Coding. It contains import policy
Directorate General of Foreign Trade: The organization responsible for implementing foreign trade policy and regulations in India.
Ministry of Commerce and Industry: The Indian government ministry responsible for international trade and industrial development.
Cashew Kernels: The commodity whose import policy is being amended, specifically broken and whole cashew kernels.
New Delhi: The city in India where the notification was issued and the location of governmental bodies like the Directorate General of Foreign Trade.
Alok Vardhan Chaturvedi: Director General of Foreign Trade, who is issuing the notification.
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MINISTRY OF COMMERCE AND INDUSTRY
(Department of Commerce)
(DIRECTORATE GENERAL OF FOREIGN TRADE)
NOTIFICATION
New Delhi, the 12th June, 2019
No. 8 /2015-2020
Subject: Amendment in import policy conditions of cashew kernels (broken/whole).
S.O. 1955(E).—In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02
and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby amends
the import policy conditions of cashew kernels (broken) against HS Code 08013210 and cashew kernel (whole) against
HS Code 08013220 under Chapter 8 of ITC (HS), 2017, Schedule – I (Import Policy.
Exim Code Item Description Present Revised Policy Existing Policy Revised Policy Condition
Policy Condition
08013210 Cashew kernel, Free Prohibited Minimum CIF Value However, import is free if
broken (Per Kg.) is Rs.288/- CIF value is above
Rs.680/- per KG.
08013220 Cashew kernel, whole Free Prohibited Minimum CIF Value However, import is free if
(Per Kg.)is Rs.400/- CIF value is above
Rs.720/- per KG.
Effect of the Notification: Minimum Import Price of Cashew kernel (broken / whole) enhanced.
This issues with the approval of Minister of Commerce & Industry.
(F.No. M-5898/AM-03/PC-2 (A)/Vol.II – P-13393)
ALOK VARDHAN CHATURVEDI, Director General of Foreign Trade&
Ex- officio Addl. Secy.
Note: The principal notification No. 36/2015-2020, dated the 17th January, 2017 was published in the Gazette of India,
Extraordinary vide number S.O. 172 (E), dated the 17th January, 2017.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.