| Preamble |
1.1 |
The Preamble spells out the broad framework. |
| Duration |
1.2 |
This Foreign Trade Policy 2004-2009 (FTP), incorporating
provisions relating to export and import of goods and services, shall come into
force with effect from 1st April, 2007 and shall remain in force upto 31st
March, 2009 unless otherwise specified. |
| Amendments |
1.3 |
Central Government reserves right in public interest to make any
amendments by notification to this Policy in exercise of powers conferred by
Section 5 of FT(D&R) Act. |
|
1.4 |
Authorisations issued before commencement of FTP shall continue to be valid
for the purpose and duration for which such Authorisation was issued, unless
otherwise stipulated. |
Transitional
Arrangements |
1.5 |
In case an export or import that is permitted freely under FTP is
subsequently subjected to any restriction or regulation, such export or
import will ordinarily be permitted notwithstanding such restriction or
regulation, unless otherwise stipulated, provided that shipment of
export or import is made within original validity with respect to
available balance and time period of an irrevocable commercial letter of
credit. [OLD- irrevocable letter of credit]
established before date of imposition of such restriction. However, a
time limit for operationalising such LCs may be prescribed].
(In this Para the words "irrevocable commercial letter of credit" has
been substituted vide
DGFT NOTIFICATION NO. 20/2007, DT. 13/08/2007).
(Please Review
DGFT Policy. Circular No. 04/2007, DT. 16/08/2007 -
Transitional Arrangements under Para 1.5 of Foreign Trade Policy,
2004-2009.).
The Central Government prohibits with immediate effect any export of
non-basmati rice, under the Transitional arrangements under Para 1.5 of
Foreign Trade Policy, 2004-2009 (as amended from time to time), with
reference to the restrictions imposed vide
Notification No. 38(RE-2007)/2004-2009, dated 15.10.2007, and
Notification No. 45(RE-2007)/2004-2009, dated 31.10.2007, and
Notification No. 68(RE-2007)/2004-2009, dated 27.12.2007
(Ref.
DGFT NOTIFICATION No. : 77/2007, Dated 07-02-2008).
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