Govt simplifies export procedures

National trade facilitation panel will be set up that will cover simplification of procedures, infra, and risk-based assessment

In the mid-term review of the foreign trade policy, the government has unveiled several initiatives to improve the ease of doing business.
 
The government has introduced a new scheme that allows duty-free import of inputs for exports production after a self-declaration, as against the earlier exercise of getting a ratification from the norms committee first. This scheme, which will initially be available to authorised economic operators, will help reduce the turnaround time in sectors such as pharmaceuticals, chemicals, textiles, and engineering.
 
“The trust-based self-ratification scheme to procure raw materials duty free with a self-declaration, as against getting the