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The Supreme Court on Monday (February 5) observed that if there is a delay in refund of the 'duty drawback' to the claimant under the Customs Act, 1962, then the claimant would be entitled to interest...
In most parts, the policy instruments spelt out in FTP 2023 are not those that can prepare India to participate effectively in the global markets even at the present juncture. Making India future ready seems to be some distance away
As a countermeasure, they impose these duties under the multilateral regime of the Geneva-based World Trade Organization (WTO). The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters. Get more India News and Business News on Zee Business.
The government has finally unveiled its new Foreign Trade Policy (FTP) which came into force on 1 April. The previous policy, launched in 2015, had to be extended several times due to the pandemic and geo-political developments. Mint explains its importance:
The Directorate General of Foreign Trade (DGFT) on Friday said that there is no end date to the new foreign trade policy, it will be updated as and when required.