The Directorate General of Foreign Trade (DGFT) under Notification No. 22/2024-25 dated 14th November 2024, has proposed a new update to India’s export policy. The notification describes the introduction of a harmonized Schedule-II (Export Policy) based on 8-digit ITC (HS) codes. This initiative is part of an effort to streamline export control and support the process providing greater clarity and ease of compliance for all stakeholders, including members of trade and industry, export promotion councils, commodity boards, and relevant ministries. Become a PF & ESIC expert with our comprehensive course – Enroll Now
The proposed harmonization replaces the current description-based export policy with one that aligns with the latest 8-digit tariff codes notified under the Finance Act 2024. Previously, a draft version of Schedule II (Export Policy) for Chapters 40-98 was shared through Trade Notice No. 11/2024-25, dated 2nd August 2024. Stakeholder feedback was heard, and the received comments have now been incorporated into a revised draft. The latest version now includes all chapters from 01 to 98, making it more complete and thorough.
The Directorate General of Foreign Trade (DGFT) is asking stakeholders to actively participate in improving the draft. Comments and feedback on the revised Schedule II can be sent by email to export-dgft@nic.in by 27th November 2024. This approach is to make sure the updated export policy meets the needs and views of India’s trade community. Become a PF & ESIC expert with our comprehensive course – Enroll Now
The harmonized Schedule-II is to provide clear export rules but it does not change the rules in Table A of ITC (HS), 2018 Schedule-2 Export Policy. These rules still apply to certain chapters about live animals and animal products. After the consultation period, the final version of the harmonized Schedule II (Export Policy) will be announced taking an important step towards modernizing India’s export rules. This notification has been approved by the relevant authority to ensure it aligns with the government’s overall goals. The notification has been signed and issued by Md. Moin Afaque, Joint Director General of Foreign Trade, under the authority of the Directorate General of Foreign Trade (DGFT).