What is the time period of latest foreign trade policy in India?
What is the time period of latest foreign trade policy in India?
On March 31, 2020, the government had extended the Foreign Trade Policy 2015-20 for one year till March 31, 2021, amid the coronavirus outbreak and the lockdown. The government has further extended the existing Foreign Trade Policy (FTP) till September 30 this year, according to a commerce ministry notification.
How do I update IEC?
How to update Importer Exporter Code – IEC
- Visit the DGFT website and click on “Update IEC”.
- Log in to your IEC dashboard on the DGFT website by entering the unique ID, Password, and Captcha.
- Under DGFT dashboard, choose “Update/Modify IEC”
What is the time period of the latest foreign trade policy?
What is BOP record?
The balance of payments (BOP) is the record of all international financial transactions made by the residents of a country. There are three main categories of the BOP: the current account, the capital account, and the financial account.
How long does it take to get IEC code?
It is fairly easy to obtain IEC code from the DGFT within a period of 10 to 15 days after submitting the application. There isn’t any need to provide proof of any export or import for getting IEC code.
What if IEC is suspended?
Surrender IEC The IEC will be suspended for any transactions and will need to be revoked by filing revocation of suspension.
Why is IEC suspended?
(b) The Director General has reason to believe that any person has made an export or import in a manner gravely prejudicial to the trade relations of India with any foreign country or to the interests of other person engaged in imports or exports or has brought disrepute to the credit or the goods of the country, the …
What is FTP in export?
The Foreign Trade Policy (FTP) was introduced by the Government to grow the Indian export of goods and services, generating employment and increasing value addition in the country. The Government, through the implementation of the policy, seeks to develop the manufacturing and service sectors.
What is the current BOP of India?
India’s current account balance recorded a deficit of US$ 9.6 billion (1.3 per cent of GDP) in Q2:2021-22 as against a surplus of US$ 6.6 billion (0.9 per cent of GDP) in Q1:2021-22 and US$ 15.3 billion (2.4 per cent of GDP) a year ago [i.e., Q2:2020-21].