Benefits to Exporters

Inorganic chemicals are classified under chapter 28, Organic chemicals are classified under chapter 29 and Pharmaceutical products are classified under chapter 30 of ITC (HS) Classification of Export and Import items. Directorate General of Foreign Trade (DGFT) has allowed exporters to avail zero duty Export Promotion Capital Goods scheme and reward scrips for exports for notified products/markets, as covered under Chapter 3, in the same financial year, subject to certain conditions, as specified from time to time, in the Foreign Trade Policy 2009-14, as amended.

 The Foreign Trade Policy 2015-20 has introduced several measures for facilitating trade and improving ‘Ease of doing Business’ by reducing the number of mandatory documents required for export and import to three each. In order to facilitate faster processing and enable working in 24*7 mode, DGFT has facilitated submission of various applications and documents in online mode, as well as online payment of application fees through credit/debit cards and electronic fund transfer from 53 banks. DGFT has also recently launched a mobile application (android based) for facilitating trade. Central Board of Excise and Customs has facilitated integration of Plant Quarantine and Food Safety and Standards Authority of India with EDI system of Customs for purposes of export and import. These measures will facilitate trade by reducing transaction cost and time.

 This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.