Showing results for
What is Policy Relaxation
DGFT is committed to easy and speedy redressal of grievances from Trade and Industry. Paragraph 2.58 of FTP provides for relaxation of Policy and Procedures on grounds of genuine hardship and adverse impact on trade. A Policy Relaxation Committee (PRC) is accordingly constituted under para 2.58 of the Foreign Trade Policy. DGFT may in public interest pass such orders or grant such exemption, relaxation or relief, as he may deem fit and proper, on grounds of genuine hardship and adverse impact on trade to any person or class or category of persons from any provision of Foreign Trade Policy (FTP) or any Procedures. While granting such exemption, DGFT may impose such conditions as he may deem fit after consulting the Committees.
Pre-Requisites for Applying for Policy Relaxation
IEC is required to apply for any Policy Relaxation. Other pre-requisites as mentioned in the Chapter 2 of Foreign Trade Policy and Handbook of Procedures may be referred.