Home India Ministry of Commerce and Industry In exercise of powers conferred by section 3 of the Foreign ...
Date: 2019-12-18 Category: Extra Ordinary State: Union Government Country: India

In exercise of powers conferred by section 3 of the Foreign Trade Development and Regulation

Issued by Ministry of Commerce and Industry · Department of Commerce

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Executive Summary & Key Takeaways

This notification, S.O. 4540(E), issued by the Ministry of Commerce and Industry, Department of Commerce, on December 18, 2019, amends the Import Policy for items within Chapter 7 of the Indian Trade Classification (Harmonized System), 2017, Schedule 1. The amendment, enacted under Section 3 of the Foreign Trade Development and Regulation Act, 1992, and paragraphs 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, introduces a restricted import policy for Urad Beans (Vigna Radiata L. Wilczek) under Exim Code 0713 31 90. The import of Urad is now subject to an annual fiscal year quota of 04 lakh MT, and allowed only to Millers/Refiners as per procedure notified by Directorate General of Foreign Trade. This restriction does not apply to government import commitments under Bilateral or Regional Agreements or Memoranda of Understanding. This notification takes effect on the date of its publication in the official Gazette. The responsible Joint Secretary is Diwakar Nath Misra, and the file number is F. No. 14/32/2018-EPAgri-III. The principal notification being amended is No. 36/2015-2020, dated January 17, 2017, S.O. 172(E), as last amended on March 29, 2019, S.O. 1480(E).

Key Entities Referenced

Foreign Trade Development and Regulation Act, 1992: Indian Law that confers powers to Central Government to formulate policies regarding Foreign Trade Foreign Trade Policy, 2015-2020: A policy document outlining guidelines and objectives for India's foreign trade. Central Government: The executive authority of the Union of India, responsible for implementing and enforcing laws and policies. Indian Trade Classification Harmonized System, 2017: A system for classifying goods for import and export, based on the Harmonized System of Nomenclature. Urad Beans: A type of pulse (Vigna Radiata L. Wilczek) whose import policy is being revised. Directorate General of Foreign Trade: Government of India agency responsible for implementing foreign trade policy and regulations. Ministry of Commerce and Industry: The Indian government ministry responsible for the development and regulation of India's international trade and commerce. Diwakar Nath Misra: Joint Secretary in the Government of India
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