On 27th May, 2019, Commerce Ministry unveiled a comprehensive draft of the export policy which includes product- specific rules with a view to provide a ready reckoner for exporters.
It aims at consolidating the export norms for each product andhas accorded eight digit Harmonised System codes to every product.
Based on inputs received from various partner government agencies, it is proposed to bring out a comprehensive exports policy for all Indian Trade Clarification (ITC) based on Harmonised System (HS) of Coding.
This move is for consolidating the norms and not for making any changes in the existing export policy of the country.
Besides, it also includes non-tariff regulations imposed by different government agencies.
The compendium will help an exporter know all the applicable norms pertaining to a particular product, helping him/her understand policy conditions for that item.
Benefits
It is expected to provide a ready reckoner for traders and help in digitisation.
It will help exporters in understanding export norms and conditions for items.
