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## Report on Amendment to Foreign Trade Policy 2015-2020 Regarding IEC Updation **1. Executive Summary:** This report analyzes an amendment to the Foreign Trade Policy (FTP) 2015-2020, specifically concerning the electronic updation of the Importer-Exporter Code (IEC). The amendment extends the period for electronic updation of IEC details without fee for the year 2021-22 till July 31, 2021. The amendment also waives fees for modifications to the IEC during July 2021. This report aims to inform IEC holders about these changes and their implications. **2. Introduction:** The purpose of this report is to provide a detailed analysis of an amendment to the Foreign Trade Policy 2015-2020 related to the Importer-Exporter Code (IEC), based on the official notification provided. This analysis will focus on the specific changes introduced by the amendment, its implications, and implementation aspects. **3. Policy Overview:** This notification amends the Foreign Trade Policy (FTP) 2015-2020, specifically paragraph 2.05 d. * **Core Objective(s) as stated or inferred from the provided text:** * To ensure that IEC holder details are up-to-date. * To revise the period for electronic updation of IEC details for the year 2021-22. * To provide temporary fee waivers for IEC modifications. **4. Background and Rationale:** The original policy (FTP 2015-2020, paragraph 2.05 d) required IEC holders to update their details electronically every year during the April-June period. This amendment likely addresses potential disruptions or delays caused by unforeseen circumstances, by providing an extended period for compliance and waiving modification fees to reduce the burden on businesses during this period. **5. Key Provisions / Changes:** This amendment introduces the following key changes to paragraph 2.05 d of the Foreign Trade Policy 2015-2020: * **Specific Part of Original Policy Changed:** Paragraph 2.05 d of the Foreign Trade Policy 2015-2020, concerning the electronic updation of IEC details. * **New Rule/Provision:** For the year 2021-22 only, the period for electronic updation of IEC details is extended by one month, i.e., until July 31, 2021. In cases where there are no changes in IEC details same also needs to be confirmed online. Furthermore, the fee for modification of IEC during July 2021 will remain Nil. * **Difference/Effect of the Change:** This amendment provides IEC holders with an additional month (July 2021) to update their IEC details electronically without incurring any fees for modifications. The extension provides more time for businesses to comply with the updation requirement. The fee waiver alleviates the financial burden associated with IEC modifications. **6. Target Audience and Stakeholders:** The primary target audience and stakeholders directly affected by this amendment are: * All Importer-Exporter Code (IEC) holders in India. * The Directorate General of Foreign Trade (DGFT). * Businesses involved in international trade. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies Mentioned:** The Directorate General of Foreign Trade (DGFT) is the responsible agency for implementing and overseeing the Foreign Trade Policy. * **Timelines or Procedures Specified in the Text:** * The extended period for IEC updation is valid until July 31, 2021, for the year 2021-22 only. * IEC holders must update their details electronically during the extended period. * If there are no changes, online confirmation is required. * No fees will be charged for IEC modifications carried out until July 31, 2021. **8. Expected Outcomes / Impact of Changes:** The likely intended outcomes of these specific changes introduced by the amendment are: * Increased compliance with IEC updation requirements due to the extended deadline. * Reduced burden on businesses during the COVID-19 pandemic by waiving modification fees. * Smoother trade operations by ensuring up-to-date IEC information. **9. Conclusion:** The amendment to the Foreign Trade Policy 2015-2020, extending the IEC updation period and waiving modification fees until July 31, 2021, provides significant relief to IEC holders. It ensures greater compliance while easing the financial burden on businesses. This temporary measure is particularly relevant during times of disruption and is expected to facilitate smoother international trade operations.

Key Entities Referenced