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Trade Update 10
WEEKLY TRADE UPDATE
Foreign Trade Updates
A. Introduction of Toys (Quality Control) Order, 2020.
The Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry has introduced a Quality Control Order dated February 25, 2020 that applies to Toys
designed or intended, whether or not exclusively, for children under 14 years of age. Therefore, toys now have to bear the Standard Mark issued by the Bureau of Indian Standards vide a license under Scheme – I of Schedule – II of BIS (Conformity Assessment) Regulations, 2018. This will come into force from September 1, 2020.
B. Relief has been provided to Exporters with respect to the Average Export Obligation.
The Directorate General for Foreign Trade has provided relief under the EPCG scheme to exporters of those sectors where total exports in the sector/product group has declined by more
than 5% as compared to the previous year. This has been done by reducing the Average Export Obligation in proportion to the reduction in exports. This is notified vide Policy Circular 31/2015-20 dated February 26, 2020. The sector/product groups that are covered, have also been specified in the Circular.
Trade Remedy Measures Update
The Directorate General of Trade Remedies, Ministry of Commerce and Industry has recently undertaken the following actions concerning trade remedy measures.
• February 21, 2020- Final Findings issued in the investigation concerning imports of “Sheet Glass” originating in or exported from China PR.