The government on Tuesday proposed to amend the export obligation period for wheat, raw sugar, natural rubber, spices, pharmaceuticals and tea, among other sectors to facilitate their exports.India allows duty free import of inputs used for manufacturing for exports subject in advance authorisation to export obligation period in which exporters have to ship the goods within a stipulated time period otherwise they’re penalised.The Directorate General of Foreign Trade (DGFT) has sought comments of all the concerned stakeholders on the proposed amendments within 15 days.The proposed relaxations in the obligation period for coconut oil to six months from 90 days, silk in any form to 12 months from nine months, and six months for wheat, raw sugar, natural rubber, maize and walnut.“This has been requested to facilitate exports and operate within a higher trust based eco-system,” DGFT said in a trade notice.To amend the export obligation period, the DGFT has proposed to amend an appendix of foreign trade policy’s handbook of procedures 2023 as there have been a lot of representations from export promotion councils and exporters regarding the review of the appendix which deals with the sectors and their respective export obligation period.“This directorate is proposing a review of the export obligation period as mentioned in Appendix – 4J…All stakeholders are advised to provide their comments/suggestions/views with regard to proposed amendments,” the DGFT said.
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