Knowledge Resource > Introduction In India, exports and imports are ‘Free’ except when regulated by way of prohibition, restriction or requirement of exclusive trading through State Trading Enterprises. The manner of regulation is specified in the Indian Trade Classification (Harmonized System) [ITC (HS)] of Exports and Imports. Further, there are some items which are free, …
Knowledge Resource > In 2020, the Government announced structural reforms to boost private participation in space activities and a promise to provide a predictable policy and regulatory framework. The Government has now released the Indian Space Policy – 2023, albeit after a lapse of almost three years. The Policy aims to promote a friendly regulatory …
Space Policy 2023- Indian Private Sector’s Guide to the Galaxy Read More »
Knowledge Resource > Aviation is one of the fastest-growing sources of Greenhouse Gas (GHG) Emissions globally and currently, it contributes to 2.5% of CO2 emissions and 1.9% of all greenhouse gas emissions in the world.[1] The need for the reduction of these parameters has been emphasized by the International Civil Aviation Organization (ICAO) which has …
Knowledge Resource > The Indian government on 31st March, 2023 announced the new Foreign Trade Policy (FTP) 2023 proving to be a boost to exports amid slowing global trade. The FTP 2015-20 was extended due to the COVID-19 pandemic and the conflict in Europe in an attempt to respond dynamically to the emerging situations. The …
Knowledge Resource > India is the World’s third largest market in aviation sector and rapidly growing. The growth is not just due to international but also domestic travel spurt. One of the key drivers for the domestic spurt has been the UDAN scheme, launched as a Regional Connectivity Scheme (RCS), providing connectivity to underserved airports …
Ude Desh ka Aam Nagrik (Udan), a journey from Hawai Chappal to Hawai Jahaj! Read More »
Knowledge Resource > The Union Budget 2023-24 progresses on the foundation laid in the previous Budget, and the blueprint drawn for India@100. As expected, the Budget is a pragmatic one as opposed to a populist one. This is in line with the global economic instability triggered by the pandemic and War. The key areas of …
DGS analyses the Key Highlights Union Budget 2023-24 Read More »
Knowledge Resource > The Union Finance Minister presented the Union Budget 2023 and proposed the Finance Bill, 2023 in the Lok Sabha on February 1, 2023. An overview of post-budget Customs and Central Excise notifications as well as changes to Customs Laws are listed below. Legislative amendments in the Customs Act, Customs Tarff Act and Rules made thereunder: …
Knowledge Resource > At the recently concluded Defexpo 2022, our Defence Minister reiterated India’s defence export target worth $5 billion by 2025. Focussed on turning India into a net exporter from being a net importer, it was emphasised that the target reflects the intent of making India an export-oriented defence manufacturing hub. India’s arms exports …
Defence exports on mind, can compliance be far behind? Read More »
Knowledge Resource > A. Amendment of import policy conditions for item under ITC(HS) Code 05119999 of Chapter 05 of ITC (HS), 2022, Schedule —IThe Central Government vide Notification No.22/2015-2020-DGFT dated July 20, 2022, has amended the import policy conditions regarding imports of Human Embryo under ITC (HS) 05119999. It is “Prohibited” in accordance with the …
Knowledge Resource > A. Amendments to Foreign Trade Policy 2015-2020.The Directorate General of Foreign Trade vide Notification No. 16/2015-20 dated July 01, 2022 has amended the Foreign Trade Policy 2015-2020 to provide exemption of Integrated Goods and Service Tax (IGST) and Compensation Cess under Advance Authorisation, EPCG and EOU scheme. Para 4.14, Para 5.01(a) and …
