DGFT Launches Automated System for Adhoc Input-Output Norms to Boost Ease of Doing Business

The Directorate General of Foreign Trade (DGFT) has introduced an automated system for adhoc input-output norms fixation to promote ease of doing business for exporters. This new system is part of DGFT's ongoing modernization efforts, aiming to streamline processes and reduce the time and effort for both DGFT and exporters.


PTI | New Delhi | Updated: 20-06-2024 20:42 IST | Created: 20-06-2024 20:42 IST
DGFT Launches Automated System for Adhoc Input-Output Norms to Boost Ease of Doing Business
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The Directorate General of Foreign Trade (DGFT) has implemented a new automated system for fixing adhoc input-output norms, aiming to boost ease of doing business for exporters. Announced on Thursday, this measure is part of the ministry's broader initiative to modernize and streamline foreign trade procedures.

Exporters can now import duty-free raw materials or inputs for manufacturing goods meant for export under an advance authorisation scheme. Traditionally, DGFT had adhered to a fixed standard input-output norm for various products to issue licenses for such duty-free imports.

However, the new system allows for greater flexibility. Exporters who find that standard norms do not suit their specific needs can apply for their own adhoc norms through a rule-based, system-driven process. This initiative is expected to enhance efficiency and simplify the licencing process.

Since the introduction of the new Foreign Trade Policy in April 2023, DGFT has focused on revamping its systems to incorporate automated, rule-based processes. These improvements also include post-issuance audit capabilities and risk mitigation functions, aiming to create a more transparent and efficient foreign trade environment.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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