The 7 Key Highlights of the new Foreign Trade Policy introduced on 31st March 2023 are:
1. Ease of doing business, reduction in transaction costs and e-initiatives:
- Reduction in the processing time of Advance Authorization Applications
- Reduction in application fees for Advance Authorization and EPCG Schemes
- Launch of a new platform for issuing certificate of origin electronically
- Paperless filing of redemption applications
2. Introduction of Export Promotion Initiatives:
- Rationalization of export thresholds for Status Holder Certificate Scheme.
- Allowing merchanting trade transactions
- Accepting rupee payments under foreign trade policy.
- Declaring four new towns of export excellence
3. Introduction of Districts as export hubs initiatives:
- Creating institutional mechanisms,
- Identifying potential export products,
- Building capacity for new exporters,
- Addressing infrastructure and logistics bottlenecks,
- Converging ongoing schemes to support these initiatives
4. Introduction of initiatives for e-commerce exports:
- Initiatives to support and facilitate e-commerce exports from India.
- Launch of Dak Ghar Niryat Kendras and warehousing facility
5. Introduction of Steps to boost Manufacturing
6. Introduction of One-time Amnesty Scheme
7. Streamlining SCOMET Licensing Procedure
Who are we and how can we help you?
We are A V International, a DGFT and Customs Consulting firm located in Mumbai and operating PAN India. We help our clients with end-to-end consulting related to export benefit schemes including Advance Authorisation, EPCG, SEIS, MEIS, RoDTEP, RoSCTL, Export House Certification, AEO-T1, AEO, T2, AEO T3, and AEO LO and many more.
For more information about our company, please visit our website: www.avigroup.in
