The Foreign Trade Policy 2023 is being revised to suit implementing automated rule based processes. An advanced authorisation scheme has been introduced offering greater flexibility to the exim community, wherein exporters can import raw materials on duty-free basis for manufacturing goods meant for exports. If an exporter finds the standard norms do not meet his import requirements, he can suggest his own adhoc norms through a rule-based system driven process.
Earlier, the DGFT adhered to a fixed standard input-output norm for various products to issue licenses for such duty-free imports. Improvements have also been made in post-issuance audit capabilities and risk mitigation functions, with a focus on developing a transparent foreign trade environment.
