Home India Ministry of Commerce and Industry In exercise of powers conferred by Section 3 of FT D And R A...
Date: 2018-07-12 Category: Extra Ordinary State: Union Government Country: India

In exercise of powers conferred by Section 3 of FT D And R Act, 1992, read with paragraph

Issued by Ministry of Commerce and Industry · Department of Commerce

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Executive Summary & Key Takeaways

Executive Summary: This notification issued by the Directorate General of Foreign Trade on July 12, 2018, amends the import policy regarding new vehicles. It adds Vishakhapatnam port to the list of approved ports for importing new vehicles, increasing the total number of eligible ports/ICDs to sixteen. This change is made under the authority of the Foreign Trade (Development and Regulation) Act, 1992, and the Foreign Trade Policy 2015-2020. Key Points / Main Content: * **Amendment Overview:** * Vishakhapatnam port is added to the list of ports/ICDs through which new vehicles can be imported. * This amends Import Policy Condition 2 to Chapter 87 of ITCHS 2017, Schedule 1. * **Revised Policy Condition:** * The import of new vehicles is permitted only through specific customs ports. * The revised list of approved ports includes: * Seaports: Nhava Sheva, Mumbai, Kolkata, Chennai, Ennore, Cochin, Kattupalli, APM Terminals Pipavav, Krishnapatnam, Vishakhapatnam * Airports: Mumbai Air Cargo Complex, Delhi Air Cargo, Chennai Airport * ICDs: Telegaon Pune, Tughlakabad, Faridabad * **Impact:** * The addition of Vishakhapatnam port brings the total number of approved ports/ICDs for new vehicle imports to 16. Impact Analysis: * **Importers of New Vehicles:** * *Impact:* Gain an additional port option (Vishakhapatnam) for importing new vehicles, potentially affecting logistics and supply chains. * *Action Required:* Evaluate Vishakhapatnam port as a viable import location and adjust import strategies accordingly. * **Customs Authorities:** * *Impact:* Must recognize Vishakhapatnam as an approved port for new vehicle imports and ensure compliance with the amended policy. * *Action Required:* Update internal systems and procedures to reflect the inclusion of Vishakhapatnam port. * **Directorate General of Foreign Trade (DGFT):** * *Impact:* Responsible for implementing and overseeing the amended import policy. * *Action Required:* Monitor the impact of adding Vishakhapatnam port and make further adjustments as needed.

Key Entities Referenced

Foreign Trade Policy 2015-2020: A trade policy document referred to in the notification regarding amendments related to vehicle imports. Foreign Trade (Development and Regulation) Act, 1992: Indian legislation that empowers the Central Government to make provisions for regulating foreign trade. ITC HS 2017: Indian Trade Classification (Harmonised System) - 2017, Schedule 1 Import Policy, specifically Chapter 87, which pertains to vehicles. Vishakhapatnam Port: A seaport in Andhra Pradesh, India, added to the list of approved ports for the import of new vehicles. Mumbai: A seaport in Maharashtra, India, listed as an approved port for the import of new vehicles. Chennai: A seaport and airport in Tamil Nadu, India, listed as an approved port for the import of new vehicles. Alok Vardhan Chaturvedi: Director General of Foreign Trade, the signatory of the notification. Delhi Air Cargo: An airport in Delhi, India, listed as an approved port for the import of new vehicles.
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