Executive Summary:
This notification, issued by the Directorate General of Foreign Trade on September 27, 2018, amends paragraph 2.47 of the Foreign Trade Policy (FTP) 2015-2020. The amendment removes the value limit on exports through postal services, while maintaining the limit of Rs 5,00,000 for exports via courier services. This change takes immediate effect.
Key Points / Main Content:
* **Amendment Overview:** Modifies paragraph 2.47 of the Foreign Trade Policy 2015-2020.
* **Postal Exports:** Removes the previously stipulated value limit on exports made through postal services.
* **Courier Exports:** Retains the existing value limit of Rs 5,00,000 per consignment for exports through registered courier services.
* **Regulation:** Exportability of items continues to be regulated by the FTP and ITC HS (Import-Export Code Harmonized System).
Impact Analysis:
**Exporters:**
* Impact: Exporters using postal services can now export goods without the previous value restrictions. Those using courier services remain subject to the Rs 5,00,000 limit.
* Action Required: Exporters should take note of the removal of value limits for postal exports and ensure compliance with FTP and ITC HS regulations.
**Courier Services:**
* Impact: Courier services must continue to adhere to the Rs 5,00,000 value limit per consignment.
* Action Required: No changes in procedure are needed; continue compliance with existing regulations for export value limits.
**Postal Services:**
* Impact: Postal services can now facilitate exports without the previous value restrictions.
* Action Required: Ensure staff are aware of the policy change and can facilitate exports without the previous value restrictions.
**Directorate General of Foreign Trade (DGFT):**
* Impact: Responsible for implementing and overseeing the amended policy.
* Action Required: Ensure the updated policy is effectively communicated to all relevant stakeholders and reflected in all applicable documentation and systems.
Key Entities Referenced
Foreign Trade Policy 2015-2020: A policy document related to foreign trade, amended by this notification.
Foreign Trade Development and Regulation Act, 1992: An act of the Indian Parliament that empowers the Central Government to make provisions for regulating foreign trade.
Central Government: The government of India, responsible for amending the Foreign Trade Policy.
Directorate General of Foreign Trade: A department under the Ministry of Commerce and Industry, responsible for implementing foreign trade policy.
Ministry of Commerce and Industry: The Indian government ministry responsible for international trade and commerce.
New Delhi: The location where the notification was issued. New Delhi, Delhi
Alok Vardhan Chaturvedi: Director General of Foreign Trade and Ex-officio Additional Secretary.
ITC HS: Indian Trade Clarification based on Harmonized System of Coding. Used to regulate exportability of items.
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MINISTRY OF COMMERCE AND INDUSTRY
(Department of Commerce)
DIRECTORATE GENERAL OF FOREIGN TRADE
NOTIFICATION
New Delhi, the 27th September, 2018
No. 36/2015-2020
Subject: Amendments in Para 2.47 of FTP 2015-2020.
S.O. 4995(E).— In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and
Regulation) Act, 1992 read with Para 1.02 of the Foreign Trade Policy, 2015-2020, the Central Government hereby
makes the following amendment in the Foreign Trade Policy 2015-2020 with immediate effect:
2.
Para of the Current para Amended Para
FTP
2015-20
2.47 2.47 Export through Courier Service/Post 2.47 Export through Courier Service/Post
Exports through a registered courier service is Exports through a registered courier service/Foreign
permitted as per Notification issued by DoR. Post Office is permitted as per Notification issued by
However, exportability of such items shall be DoR. However, exportability of such items shall be
regulated in accordance with FTP/ ITC (HS), regulated in accordance with FTP/ Export Policy in
2017.The value limit for such exports through ITC (HS), 2018. The value limit for exports through
courier service and Post shall be Rs 5, 00,000 per courier service shall be Rs 5,00,000 per consignment .
consignment.
Effect of this Notification: The value limit stipulated on exports through Post in Para 2.47 of the FTP has been has been
done away with. The value limit of Rs.5,00,000/- will be applicable only in case of courier exports.
[File No. 01/61/180/16/AM17/PC-3]
ALOK VARDHAN CHATURVEDI, 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.