| Foreword |
1.1 |
The Foreword spells out the broad framework. |
| Duration |
1.2 |
This Foreign Trade Policy (FTP) 2004-2009 (RE-2008), incorporating
provisions relating to export and import of goods and services, shall
come into force with effect from 1st April, 2008 and shall remain in
force ‘till further amendments’ unless otherwise specified. (this Para
replaced by
DGFT NOTIFICATION No. 70 (RE-2008)/2004-2009, Dated 8th,
December, 2008 ) |
| 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. |
| Transitional Arrangements |
1.4 |
Authorisation issued before commencement of FTP shall continue
to be valid for the purpose and duration for which such Authorisation
was issued, unless otherwise stipulated. |
| |
1.4A |
The earlier Public Notices, Policy Circulars, Notifications or
Decisions will also be deemed to be in force as if promulgated under the
current policy to the extent they are not inconsistent with the
provisions of the present policy and procedure. (This Para is inserted
by
DGFT Notification No. 20(RE-2008)/2004-2009, Dated : 01-07-2008) |
| |
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, established before date of imposition of such restriction.
However, a time limit for operationalising such LCs may be prescribed. |