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 conditions under Chapter 29 and 30 of the ITC (HS) 2017, Schedule-I (Import Policy). The amendment, made under Section 3 of the Foreign Trade (Development and Regulation) Act, 1992, prohibits the import of Oxytocin. This notification takes immediate effect from the date of issue. Key Points / Main Content: * **Import Policy Amendment:** * The import of Oxytocin is now prohibited under specific Exim codes. * **Affected Exim Codes:** * 29371900: Other Hormones - Import of Oxytocin is prohibited. * 29372900: Other Hormones - Import of Oxytocin is prohibited. * 29379019: Other Hormones - Import of Oxytocin is prohibited. * 29379090: Other Hormones - Import of Oxytocin is prohibited. * 3004: Medicaments (excluding goods of heading 3002, 3005 or 3006) - Import of Oxytocin is prohibited. Impact Analysis: Stakeholders impacted by this notification include: * **Importers:** * *Impact:* Importers are directly affected as they can no longer import Oxytocin under the specified Exim codes. * *Action Required:* Cease all import activities related to Oxytocin under the listed Exim codes to comply with the new regulation. * **Manufacturers and Distributors of Pharmaceuticals:** * *Impact:* Manufacturers and distributors who rely on imported Oxytocin for producing or supplying medications will be affected. * *Action Required:* Find alternative sources of Oxytocin, explore domestic options, or reformulate products to comply with the import restrictions. * **Healthcare Providers and Patients:** * *Impact:* Potential impact on the availability and cost of Oxytocin-based treatments, affecting healthcare providers and patients who require these medications. * *Action Required:* Monitor availability, consider alternative treatments if necessary, and adapt practices to the new import regulations. * **Customs and Regulatory Authorities:** * *Impact:* Customs officials are responsible for enforcing the import prohibition. * *Action Required:* Implement and enforce the new import restrictions on Oxytocin, and update relevant customs procedures and documentation.

Key Entities Referenced

Directorate General of Foreign Trade: The issuing authority of the notification, responsible for foreign trade regulation. New Delhi: Location where the Directorate General of Foreign Trade is located and where the notification was issued. ITC HS 2017: Indian Trade Classification based on Harmonized System of Coding, 2017 version, Schedule I Import Policy. Foreign Trade Policy 2015-2020: The prevailing foreign trade policy during the period of the notification. FTDR Act, 1992: Foreign Trade (Development and Regulation) Act, 1992, the legal basis for the notification. Oxytocin: The specific item whose import is being regulated (prohibited) by this notification. Alok Vardhan Chaturvedi: Director General of Foreign Trade who signed the notification. Ministry of Commerce and Industry: Parent ministry of the Directorate General of Foreign Trade
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