“New Export Policy for Chapter 01-39 under ITC (HS) 2023 Implemented by DGFT”

The Directorate General of Foreign Trade (DGFT) has recently issued Notification No. 60/2023 on February 13, 2024, announcing the implementation of the ‘Indian Trade Classification (Harmonised System) of Export Items, 2023’ for Chapter 01-39 of Schedule 2. This significant notification falls under the ambit of the Foreign Trade (Development & Regulation) Act, 1992, and aligns with the Foreign Trade Policy, 2023. Effective immediately, this notification lays down the export policy and associated conditions for items encompassed within Chapter 01-39, all of which are readily accessible on the DGFT website.

In accordance with the powers vested by Section 3 in conjunction with Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), as amended, and in compliance with Para 1.02 and 2.01 of the Foreign Trade Policy, 2023, the Central Government has officially notified Chapter 01-39 of Schedule 2 (Export Policy) of the ‘Indian Trade Classification (Harmonised System) of Export Items, 2023’ [Chapter 01-39 of Schedule 2 (Export Policy) of ITC (HS), 2023] as detailed in the Annexure accompanying this Notification.

The contents of Chapter 01-39 of Schedule 2 of ITC (HS), 2023 delineate the prevailing export policy for specified items along with any requisite policy conditions that must be met. Interested parties can access this information on the DGFT Website (www.dgft.gov.in) under the section labeled ‘ITC (HS) based Export Policy (Chapter 01-39)’.

This notification takes immediate effect, signaling the official implementation of the ITC (HS) based Export Policy for Chapter 01-39 of Schedule 2.