Home India Ministry of Commerce and Industry In exercise of powers conferred by Section 3 of the Foreign ...
Date: 2018-02-02 Category: Extra Ordinary State: Union Government Country: India

In exercise of powers conferred by Section 3 of the Foreign Trade Development Regulation Act

Issued by Ministry of Commerce and Industry · Department of Commerce

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Executive Summary & Key Takeaways

This notification, No. 48/2015-2020, issued by the Directorate General of Foreign Trade, Ministry of Commerce and Industry, on February 2, 2018, revises the export policy for onions. Effective immediately, it removes the Minimum Export Price (MEP) requirement for all varieties of onions until further notice. This amends Para 2 of Notification No. 39/2015-2020 dated November 23, 2017, read with Notifications No. 43/2015-2020 dated December 29, 2017, and No. 45/2015-2020 dated January 19, 2018. Consequently, the export of onions, as described under Serial Numbers 51 and 52 of Chapter 7 of Schedule 2 of the ITC (HS) Classification of Export and Import Items, is permitted without any MEP. For further information, contact Alok Vardhan Chaturvedi, Director General of Foreign Trade. File No. 01/91/180/922/AM08/PC-III/Export Cell.

Key Entities Referenced

Foreign Trade Development and Regulation Act, 1992: An act of the Indian Parliament that empowers the Central Government to make provisions relating to import and export. Foreign Trade Policy, 2015-2020: A policy document outlining the guidelines and objectives for India's foreign trade. Central Government: The executive authority of the Union of India. Onions: The agricultural commodity whose export policy is the subject of this notification. Minimum Export Price (MEP): A floor price set by the government below which exports are not allowed; its removal is the subject of this notification regarding onions. Directorate General of Foreign Trade: The agency of the Ministry of Commerce and Industry in India responsible for implementing the foreign trade policy. Alok Vardhan Chaturvedi: Director General of Foreign Trade who signed the notification. New Delhi: The location where the notification was issued; the capital of India.
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