Note4Students

From UPSC perspective, the following things are important :

Prelims level : Not Much

Mains level : Draft export policy 2019

• The Commerce Ministry has come out with a comprehensive draft of the export policy which includes product- specific rules with a view to provide a ready reckoner for exporters.

Draft Export Policy, 2019

• The draft policy aims at consolidating the export norms for each product as applicable at different government agencies.
• It is proposed to bring out a comprehensive exports policy for all ITC (HS) tariff codes (including items which are ‘free’ for export and do not currently exist in the policy), covering conditions/restrictions imposed by partner government agencies on exports.
• ITC-HS Codes are Indian Trade Clarification based on Harmonised System of Coding. It was adopted by India for import-export operations.
• Every product has been accorded eight digit HS codes.
• 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.

Consolidating norms

• This exercise is for consolidating the norms and not for making any changes in the existing export policy of the country.
• It also includes non-tariff regulations imposed by different government agencies.