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Corporate Laws Central Ministry of Commerce and Industry Foreign Trade (Development and Regulation) Act, 1992

DGFT notifies Foreign Trade Policy 2023

31-Mar-2023 | Notification No. 1/2023

The Directorate General of Foreign Trade has notified the Foreign Trade Policy 2023, effective from 1st April 2023.

Key Foreign Trade Policy 2023 highlights are as under:
1. Online approvals without Physical Interface: Automatic approval of various permissions under Foreign Trade Policy based on process simplification and technology implementation.
2. Reduction in user charges for MSMEs under Advance Authorisation and EPCG
3. E-Certificate of Origin: Revamp of the e-Certificate of Origin platform proposed- to provide for self-certification of CoOs as well as automatic approval of CoOs, where feasible
4. Paperless filing of Export Obligation Discharge Applications
5. Status Holder Export Thresholds Rationalised
6. Rupee Payment to be accepted under FTP Schemes
7. Four new towns of export excellence declared.
8. States and Districts as Partners in Export Promotion
9. Capacity Building at the District level
10. Infrastructure and Logistics Development Intervention
11. All FTP benefits are to be extended to e-Commerce exports
12. Designated hubs with warehousing facility to be notified, to help e-commerce aggregators for easy stocking, customs clearance, and returns processing
13. Special One-time Amnesty Scheme for Default in Export Obligations
14. Focus of FTP 2023 on Special Chemicals, Organisms, Materials, Equipment, and Technologies (SCOMET).

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