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The Directorate General of Foreign Trade (DGFT) under the Indian commerce ministry recently introduced an online system for traders who seek tariff rate quota (TRQ) for imports, a move aimed at promoting ease of doing business. The TRQ mechanism allows import of a set quantity of specific products. Tariff quotas are used on a wide range of products, mostly in agriculture.
A DGFT trade notice said it has prepared a new online module, e-TRQ System, for processing applications. All applications now seeking TRQ for imports are required to submit their application online.
It added that licences for all TRQs would be issued electronically and TRQ licence data would be transmitted electronically to the customs authorities. No paper copies of the TRQ import license will be issued now.
Fibre2Fashion News Desk (DS)
The Directorate General of Foreign Trade under the commerce ministry recently introduced an online system for traders who seek tariff rate quota (TRQ) for imports, a move aimed at promoting ease of doing business. The TRQ mechanism allows import of a set quantity of specific products. Tariff quotas are used on a wide range of products, mostly in agriculture.