India Eases Import Restrictions on Patrol Boats and Vehicles

The Indian government has lifted import restrictions on patrol boats, air-cushion, and remote-operated vehicles, allowing free trade with immediate effect. The Directorate General of Foreign Trade (DGFT) announced these changes, which are expected to affect trade with several countries, including France, Germany, Hong Kong, and the UK.

In a significant policy shift, the Indian government announced on Wednesday the removal of import restrictions on specific patrol boats and vehicles, effective immediately. The change was communicated through a notification by the Directorate General of Foreign Trade (DGFT), marking a revision from restricted to free import policy on patrol or surveillance boats, air-cushion vehicles, and remote-operated vehicles.

The fiscal imports of such items were valued at USD 0.46 million between April and November, with France, Germany, Hong Kong, and the UK being major suppliers. This policy amendment is expected to streamline the flow of these goods into India, opening up more opportunities for international trade.

Additionally, the DGFT has rolled out an online module for filing annual RoDTEP returns. The Remission of Duties and Taxes on Exported Products (RoDTEP) initiative allows exporters to receive refunds on various central and state duties, taxes, and levies imposed on input products, with current rates ranging from 0.3% to 4.3%.

(With inputs from agencies.)