FOREIGN TRADE POLICY

The Foreign Trade Policy has been issued by the Ministry of Commerce to promote and facilitate exports of goods out of India, and to also govern imports into the country. Amongst others, the Policy provides for: (a) Schemes to ensure that taxes are not exported – duty exemption and remission schemes, (b) Schemes to provide incentives to exporters, and (c) Restriction or prohibition of import and export of goods (export control regulations including dual use goods as specified under Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET). The Directorate General of Foreign Trade (DGFT) is the nodal agency for implementing the provisions of the Policy.

Dhruva has been advising various Indian and multinational companies on an end-to-end basis on various aspects of the Foreign Trade Policy, including filing of representations with the DGFT and obtaining clarification on key issues, guiding on the eligibility of the benefits, optimising the benefits, assistance in preparing and filing the applications, follow-up with the authorities for obtaining the licences, authorisation, scrips, etc., from the DGFT. Our partners have more than 15 years of experience in dealing with Policy related matters and have achieved significant results for various clients. Some of those matters are also reported as part of the DGFT committee minutes. We have an in-house team dedicated to handling DGFT related assignments, both at an advisory as well as execution level.