To improve the ease of doing business for exporters and reduce time and effort for both the Directorate General of Foreign Trade (DGFT) and the concerned exporters, the DGFT has decided to introduce a system-driven rule-based process for determining ad-hoc input output norms, a PIB press release stated.
The new initiative is in line with the DGFT’s efforts to modernize and streamline foreign trade procedures. The policy shift is aimed at embracing technological interfaces and collaborative principles. The DGFT has already made amendments to the Handbook of Procedures 2023 to enhance the ease of doing business and trade facilitation. The changes include the introduction of new post-issuance audit capabilities and risk mitigation functions.
The department is also actively pursuing other automation initiatives to further streamline and automate the foreign trade policy processes and procedures. The new initiative is in line with the DGFT’s efforts to modernize and streamline foreign trade procedures. The policy shift is aimed at embracing technological interfaces and collaborative principles. This will make it easier for businesses to operate in India and enhance the country’s competitiveness in the global economy.
The eligibility of inputs will be determined by sector-specific norms committees based on input-output norms. The DGFT has also taken steps to enhance the post-issuance audit capabilities and risk mitigation functions in the Advance Authorisation Scheme of the Foreign Trade Policy. The DGFT is committed to improving the efficiency and modernization of the foreign trade policy processes and procedures to enhance the ease of doing business for exporters and reduce time and effort for both the DGFT and concerned exporters.