There are two major highlights of the revised Foreign Trade Policy (FTP), unveiled last week. One, increases in duty credit entitlements for specified products and services under the reward schemes.
Two, making advance authorisations available to Authorised Economic Operators (AEO) without requiring them to get the input-output norms approved by the Norms Committee at the Directorate General of Foreign Trade (DGFT). Other changes are not significant. Since 2015, the commerce ministry has started issuing an FTP Statement (FTPS). This gives a detailed account of various ...
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