Executive Summary:
This notification amends the Foreign Trade Policy (FTP) 2015-2020, extending its validity until March 31, 2021. It also includes provisions for extending the validity of certain Duty Free Import Authorisations (DFIAs) and Export Promotion Capital Goods (EPCG) authorizations. Additionally, it addresses reward rates for service categories under a specific scheme.
Key Points / Main Content:
* **Policy Extension:**
* The Foreign Trade Policy (FTP) 2015-2020 is extended until March 31, 2021.
* **Service Reward Scheme:**
* Service categories eligible for rewards and their rates from April 1, 2019, to March 31, 2020, will be notified separately in Appendix 3X.
* Continuation of the scheme for services rendered from April 1, 2020, will be decided and notified later.
* **Date Amendments:**
* The date "31.03.2020" is replaced with "31.03.2021" in paragraphs 4.14, 5.01a, and 6.01d ii.
* **DFIA Validity Extension:**
* For all DFIAs, including transferable ones, where the import validity expires between February 1, 2020, and July 31, 2020, the validity is automatically extended by six months from the expiry date.
* **Import Validity Extension:**
* If the import validity period expires between February 1, 2020, and July 31, 2020, it is automatically extended by six months.
Impact Analysis:
* **Exporters/Importers:**
* *Impact:* Benefit from the extended validity of the Foreign Trade Policy, DFIAs, and EPCG authorizations, allowing continued trade activities under the existing policy framework.
* *Action Required:* Note the extended validity periods for planning future import/export activities. Also, await notifications regarding continuation of reward schemes.
* **Directorate General of Foreign Trade (DGFT):**
* *Impact:* Responsible for implementing and overseeing the amended policy.
* *Action Required:* Ensure the updated policy is effectively communicated and implemented. Notify service reward rates for the specified period in Appendix 3X. Decide and notify the continuation of the service reward scheme for periods after April 1, 2020.
* **Service Providers:**
* *Impact:* Eligible service providers can anticipate reward rates for services rendered between April 1, 2019 and March 31, 2020.
* *Action Required:* Await notification regarding reward rates in Appendix 3X and monitor for decisions regarding the continuation of the scheme beyond March 31, 2020.
Key Entities Referenced
Foreign Trade Policy 2015-2020: A policy governing foreign trade, extended until March 31, 2021.
Foreign Trade Development and Regulation Act, 1992: The act under which the Central Government is exercising its powers to make amendments to the Foreign Trade Policy.
New Delhi: Location of notification issuance.
Directorate General of Foreign Trade: The issuing authority of the notification, under the Department of Commerce, Ministry of Commerce and Industry.
Amit Yadav: Director General of Foreign Trade & Ex-officio Additional Secretary.
DFIA: Duty Free Import Authorisation; validity extended for import purposes.
EPCG: Export Promotion Capital Goods; authorisation validity extended for import purposes.
Appendix 3X: Appendix to the Foreign Trade Policy to notify service categories eligible under the scheme and the rates of reward on such services.
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अअअअससससााााधधधधााााररररणणणण
EXTRAORDINARY
भभभभाााागगगग II—खखखख(cid:2)(cid:2)(cid:2)(cid:2)डड डड 3—उउउउपपपप----खखखख(cid:2)(cid:2)(cid:2)(cid:2)डड डड (ii)
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MINISTRY OF COMMERCE & INDUSTRY
(Department of Commerce)
(DIRECTORATE GENERAL OF FOREIGN TRADE)
NOTIFICATION
New Delhi, the 31st March, 2020
No. 57/2015-2020
S.O. 1230(E).—In exercise of powers conferred by Section 5 of the Foreign Trade
(Development & Regulation) Act, 1992 read with paragraph 1.02 of the Foreign Trade Policy (FTP)
2015-2020, as amended, the Central Government hereby makes, with immediate effect, the following
amendments in the FTP 2015-2020:
st
1. In para 1.01, the phrase “shall remain in force upto 31 March, 2020 unless otherwise
specified” is substituted by the phrase “shall remain in force upto 31st March, 2021 unless
otherwise specified.”
2. The following shall be added at the end of para 3.08(a):
“However, the service categories eligible under the scheme and the rates of reward on
such services as rendered w.e.f. 1st April, 2019 to 31st March, 2020 shall be notified
separately in Appendix 3 X. For the services rendered w.e.f. 1st April, 2020, decision on
continuation of the scheme will be taken subsequently and notified accordingly.”
3. In para 4.14, the date “31.03.2020” as appearing in the last line is substituted by
“31.03.2021”.
4. In para 4.29(viii), after the first sentence, the following is inserted:[भाग II—ख(cid:2) ड 3(ii)] भारत का राजप(cid:9) : असाधारण 3
“However, for all DFIAs (including transferable DFIAs), where the validity for import is
expiring between 01.02.2020 and 31.07.2020, the validity stands automatically extended by six
months from the date of expiry.”
5. In para 5.01(a), the date “31.03.2020” as appearing in the second sentence is substituted
by “31.03.2021”.
6. In Para 5.01(c), after the second sentence, the following sentence is inserted:
“However, in case the validity period for import expires during 1st February, 2020 to
31st July, 2020, the validity stands automatically extended by further 6 months from the
date of such expiry.”
7. In para 6.01(d) (ii), the date “31.03.2020” as appearing in the last line is substituted by
“31.03.2021”.
Effect of this Notification: The existing Foreign Trade Policy 2015-2020 which is valid upto
31.3.2020 is extended upto 31.03.2021. Various other changes are also made extending the date of
exemptions by one year and extending validity of DFIA and EPCG Authorizations for import
purposes.
[F. No. 01/75/171/00001/AM20/FTP Cell]
AMIT YADAV, Director General of Foreign Trade & Ex-officio Addl. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.