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1 ) 1In physical exercise of the capabilities conferred beneath Section your five of the Overseas Trade (Development and Regulation Act), 1992 (No. x22 of 1992), the Central Government hereby notifies the Export and Import Policy for the period 2002-2007. This kind of Policy shall come into force with effect from initial April, 2002 and shall remain in pressure upto thirty first March, 3 years ago and will be co-terminus with the 10th Five Year Plan (2002-2007). However , the Central Govt reserves the best in public fascination to make virtually any amendments to the Policy in exercise in the powers conferred by Section-5 of the Take action. Such change shall be created by means of a Notification released in the Journal of India. Transitional Agreements
1 . 2Any Notifications built or General public Notices granted or nearly anything done underneath the previous Export/ Import policies, and in power immediately before the commencement of this Policy shall, in so far as they may be not inconsistent with the provisions of this Policy, continue to be in force and shall be deemed to have been made, issued or completed under this Policy. Licence/certificate/permissions issued prior to the commencement on this Policy shall continue to be valid for the purpose for which such licence/ certificate/permission was issued unless otherwise established. 1 . 3In case an export or import that is permitted openly under this Policy is usually subsequently subjected to any limit or control, such export or importance will ordinarily be allowed notwithstanding this sort of restriction or regulation, until otherwise established, provided that the shipment from the export or perhaps import is created within the first validity in the irrevocable notice of credit rating established prior to date of imposition of such constraint. Objectives
1 ) 4The main objectives on this Policy will be:
my spouse and i. To assist in sustained development in export products to attain a share of atleast 1% of global goods trade. 2. To stimulate sustained monetary growth by giving access to important raw materials, intermediates, components, consumables and capital goods required for augmenting production and offering services. 3. To enhance the technological durability and productivity of Indian agriculture, industry and solutions, thereby improving their competitive strength while generating fresh employment opportunities, and to encourage the attainment of internationally acknowledged standards of quality. iv. To provide consumers with top quality goods and services in internationally competitive prices while at the same time creating a level playing discipline for the domestic producers. 1 . 5The objectives will probably be met throughout the coordinated attempts of the Point out Governments and everything the departments of the Authorities of India in general and the Ministry of Commerce and Industry and the Directorate Basic of Foreign Trade and its network of Regional Offices in particular, with a shared perspective and dedication and in the best spirit of facilitation, in the interest of promotion of trade in goods and services.
General Conditions Regarding Imports And Export products
Exports and Imports free except if regulated
installment payments on your 1Exports and Imports should be free, apart from in cases where they are regulated by provisions of this Policy or any type of other rules for the time being in force. The itemwise export and import coverage shall be, while specified in ITC(HS) printed and informed by Movie director General of Foreign Operate, as amended from time to time. Conformity with Laws
2 . 2Every exporter or perhaps importer shall comply with the provisions of the Foreign Operate (Development and Regulation) Action, 1992, the guidelines and Instructions made thereunder, the procedures of this Plan and the conditions of any licence/certificate/permission naturally to him, as well as conditions of any other law at the moment in force. Every imported merchandise shall become subject to home Laws, Rules, Orders, Regulations, technical requirements, environmental and safety rules as relevant to domestically produced merchandise. Interpretation...