Navigating the Export Policy Update: Simplifying Trade for Businesses

The Directorate General of Foreign Trade (DGFT) has revised the export policy for products, introducing more detailed guidelines to streamline business operations. This update aligns with the Finance Act 2024 and affects all ITC (HS) codes, assisting businesses in understanding policy conditions for various goods.

The Directorate General of Foreign Trade (DGFT), an arm of the Commerce Ministry, has announced a comprehensive update to the export policy. This revision aims at enhancing the ease of doing business by providing detailed guidelines for each product.

Previously, specific policy conditions were only available for restricted goods or those under certain norms. Now, the new 'Schedule-II (Export Policy)' aligns with the Finance Act 2024, effective from August 16, 2024, offering a clearer export framework.

This comprehensive schedule spells out the current export policy for all ITC (HS) codes, detailing specific policy conditions where applicable. Officials highlight that this update will significantly aid businesses in discerning export requirements, streamlining their trade operations.

(With inputs from agencies.)