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Explore about the Marrakesh Agreement! Marrakesh Agreement, established in 1994 and coming into effect on January 1, 1995, marked a significant evolution in global trade structures. It’s been 30 years since the agreement gave birth to WTO. To know more delve into the article, click the link below https://lnkd.in/gbxuiHQS #upsc #upsc2024 #marrakesh #wto #governmentjob #mains

The DGFT issued Notification No. 63/2023 dated March 01, 2024 notified the Export of 50,000 MT of onions (under HS code 0703 10 19) to Bangladesh through National Cooperative Exports Limited (NCEL). In exercise of powers conferred by Section 3 read with section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), as amended, read with Para 1.02 and 2.01 of the Foreign Trade Policy, 2023 and in accordance with the provision contained in Para 3 of Notification No. 49/2023 dt. December 07, 2023, the Central Government permits export of 50,000 MT of onions (under HS code 0703 10 19) to Bangladesh through National Cooperative Exports Limited (NCEL). Modalities for the export of onion shall be worked by NCEL in consultation with Department of Consumer Affairs. Effect of the Notification: Export of 50,000 MT of onions (under HS code 0703 10 19) to Bangladesh through National Cooperative Exports Limited (NCEL) is notified. The Notification can be accessed at: https://lnkd.in/d6GR6bRN

Indian exporters must comply with Britain's new rules under the Developing Countries Trading Scheme (DCTS) to access duty concessions on shipments to the UK, according to the Directorate General of Foreign Trade (DGFT). Read more at: https://ow.ly/oPEl50QWl8p #Exporters | #UK | #Trade | #IndianExports | #TradeScheme | #DGFT

FOREIGN TRADE Exports Benefits Updates DGFT Registration-cum-membership certificate not mandatory for exporters to seek scheme benefits DGFT confirms that exporters do not need a Registration-cum-Membership Certificate to receive benefits under schemes such as duty drawback and remission of state levies. These include schemes like RoSCTL and RoDTEP. Import of exhibits for fairs will also follow specific norms, without needing import authorization or registration under Import Monitoring Systems, subject to compliance. Category of remission-based schemes includes, as duty drawback, rebate of state and central taxes and levies (RoSCTL) and remission of duties and taxes on export products (RoDTEP) Aim of scheme is remitting duties or taxes on exported goods. Trade Notice The requirement of an RCMC does not apply. Exporters can claim benefits under these schemes without obtaining an RCMC. In a separate order, the DGFT has clarified that import/ re-import of "Exhibits and Samples" for demo, display, exhibition and participation in fairs or participation in India or abroad shall be regulated under specified norms of the foreign trade policy. They would not be subjected to the requirement of import authorisation or registration under Import Monitoring Systems subject to other compliance, it added. #tradenotice #dgft #export #foreigntrade #government #schemes

Explore about the Marrakesh Agreement! Marrakesh Agreement, established in 1994 and coming into effect on January 1, 1995, marked a significant evolution in global trade structures. It’s been 30 years since the agreement gave birth to WTO. To know more delve into the article, click the link below https://lnkd.in/grcwFE7Z #upsc #upsc2024 #marrakesh #wto #governmentjob #mains

India’s trade facilitation initiatives, marked by timely fulfilment of all TFA provisions, have delivered commendable results. However, there is lot of work required to be done under second generation of TF reforms, which must focus on exports, MSME and India’s hinterland. Nikita and I explore the way forward in this article published today. https://lnkd.in/gDhA8QE2 #nikitasingla #gulzardidwania #mahesh-jaising #deloittetax

🚀 𝗘𝘅𝗰𝗶𝘁𝗶𝗻𝗴 𝗨𝗽𝗱𝗮𝘁𝗲 𝗳𝗼𝗿 𝗘𝘅𝗽𝗼𝗿𝘁𝗲𝗿𝘀: 𝗛𝗮𝗿𝗺𝗼𝗻𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗘𝘅𝗽𝗼𝗿𝘁 𝗣𝗼𝗹𝗶𝗰𝘆 𝘄𝗶𝘁𝗵 𝗜𝗧𝗖(𝗛𝗦) 𝗖𝗼𝗱𝗲𝘀 🌍 We are thrilled to share an important development from the Directorate General of Foreign Trade (DGFT). As per Trade Notice No. 11/2024-25, dated August 2, 2024, the DGFT is in the process of harmonizing Chapters 40 to 98 of Schedule-II (Export Policy) with the 8-digit ITC(HS) codes. This initiative aims to replace the existing description-based Export Policy, streamlining export control and facilitation processes. The harmonized ITC(HS) Code mapped Export Policy will provide greater clarity and ease of reference for all stakeholders, enhancing export operations. 🔍 Key Points: 𝗛𝗮𝗿𝗺𝗼𝗻𝗶𝘇𝗮𝘁𝗶𝗼𝗻: Aligning Export Policy with 8-digit ITC(HS) codes. 𝗦𝗰𝗼𝗽𝗲: Chapters 40 to 98, following the earlier notification for Chapters 01 to 39. 𝗢𝗯𝗷𝗲𝗰𝘁𝗶𝘃𝗲: Streamline export processes and provide clearer policy references. Your feedback is essential! Please review the draft Schedule-II (Export Policy) and share your comments by August 11, 2024, via email at export-dgft@nic.in. Following the review period, the final policy for Chapters 40 to 98 will be re-notified. Let's work together to make India's export processes more efficient and transparent! For detailed information, please refer to Trade Notice No. 11/2024-25 issued by the DGFT. #ExportPolicy #TradeCompliance #DGFT #ITC_HSCodes #IndiaExports #TradeFacilitation #CHA #Customsbroker #Exporter #Importer #BCBA #CBIC #FIEO

📢𝗨𝗽𝗱𝗮𝘁𝗲 𝗼𝗻 𝗤𝘂𝗮𝗹𝗶𝘁𝘆 𝗖𝗼𝗻𝘁𝗿𝗼𝗹 𝗢𝗿𝗱𝗲𝗿𝘀 (𝗤𝗖𝗢𝘀) 𝗮𝗻𝗱 𝗧𝗿𝗮𝗱𝗲 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲📢 DGFT has issued Public Notice No. 31/2024-25, 𝗲𝗻𝗮𝗯𝗹𝗶𝗻𝗴 𝘀𝗺𝗼𝗼𝘁𝗵𝗲𝗿 𝗶𝗺𝗽𝗼𝗿𝘁 𝗼𝗳 𝗶𝗻𝗽𝘂𝘁𝘀 𝘂𝗻𝗱𝗲𝗿 𝗔𝗱𝘃𝗮𝗻𝗰𝗲 𝗔𝘂𝘁𝗵𝗼𝗿𝗶𝘀𝗮𝘁𝗶𝗼𝗻, 𝗘𝗢𝗨, 𝗮𝗻𝗱 𝗦𝗘𝗭 𝘀𝗰𝗵𝗲𝗺𝗲𝘀 𝗳𝗼𝗿 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝘀 𝘀𝘂𝗯𝗷𝗲𝗰𝘁 𝘁𝗼 𝗺𝗮𝗻𝗱𝗮𝘁𝗼𝗿𝘆 𝗤𝗖𝗢𝘀. This amendment in Appendix 2Y of the Foreign Trade Policy 2023 marks a strategic step toward supporting India’s export manufacturing. 𝗜𝗻 𝘁𝗵𝗶𝘀 𝘂𝗽𝗱𝗮𝘁𝗲, 𝘁𝗵𝗲 𝗠𝗶𝗻𝗶𝘀𝘁𝗿𝘆 𝗼𝗳 𝗛𝗲𝗮𝘃𝘆 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗲𝘀 𝗶𝘀 𝗻𝗼𝘄 𝗶𝗻𝗰𝗹𝘂𝗱𝗲𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗹𝗶𝘀𝘁 𝗼𝗳 𝗠𝗶𝗻𝗶𝘀𝘁𝗿𝗶𝗲𝘀/𝗗𝗲𝗽𝗮𝗿𝘁𝗺𝗲𝗻𝘁𝘀 𝗲𝘅𝗲𝗺𝗽𝘁𝗲𝗱 𝗯𝘆 𝗗𝗚𝗙𝗧 𝗳𝗼𝗿 𝗴𝗼𝗼𝗱𝘀 𝘂𝘀𝗲𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻 𝗼𝗳 𝗲𝘅𝗽𝗼𝗿𝘁 𝗶𝘁𝗲𝗺𝘀. This addition aligns with the Government’s vision to enhance trade facilitation and ease of doing business in the international market. 🔍 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀: ➡️Inclusion of the Ministry of Heavy Industries in Appendix 2Y. ➡️Exemptions under QCOs for inputs intended for export manufacturing. This is a timely move to drive competitiveness in exports while adhering to international quality standards. Let’s stay aligned with these policy updates to leverage new opportunities in global trade. #TradeCompliance #DGFT #QualityControl #Exports #Manufacturing #IndiaTradePolicy #EaseOfDoingBusiness #Customs #Indiancustoms #CBIC #MOC #MOF #Supplychain #SCM #Exporters #FICCI #FIEO #CII #BCBA #CCBA #BCHAA #CHA 

Inefficiencies in port connectivity have hindered Pakistan's economic growth #inp #independentnewspakistan #inp_wealthpk #economicgrowth #Trade Read Article, click on ⬇️ link https://lnkd.in/d7srH_uu

📣 Trade Alert : Notification : Trade Notice No. 39 dated 18th March’24 ✔ Issuing Authority : DGFT ✔ Applicability : Export from India to UK under GSP ✔ Change : It is hereby informed to all concerned that the United Kingdom (UK) has replaced its existing origin declaration process under Generalized Scheme of Preferences (GSP) with the UK Developing Countries Trading Scheme ( DCTS) effective from 19th June 2023. ✔ The transition period: This change was extended until 31st December 2023. Starting from 1st January 2024 onwards, Indian Exporters to the UK are required to adhere to the new rules under DCTS to avail concessions on their exports to the UK. ✔ Criteria: Goods must have to meet meets the UK DCTS Rules of Origin (RoO) requirements to take benefit of a concessional rate of import duty for exports to the UK.   👉 What is ease of doing due to change: Indian Exporters accordingly are directed to use origin declaration wording under DCTS scheme, in place of origin declaration wording under GSP is filled through self-certification.   🖥 Details provided by UK on DCTS can be accessed at the following URLs:- https://lnkd.in/dK9zEzXa scheme-government-policy-response   #Export #DGFT #IndiaUK #GPS #DCTS