Status recognition term increases for Indian exporters
Sheela Mamidenna The recent amendment to the Foreign Trade Policy (FTP) by the office of the DGFT regarding eligibility for ‘status holder recognition’ could have various implications. According to FTP, Chapter 3, of 3.20, 2015-20, all Indian exporters of goods, technology and services with an IEC number shall be eligible for status holder recognition, upon successful performance of the current and previous two financial years. However, the recent amendment from the DGFT office reads, “An applicant shall be categorized as status holder on achieving export performance during the current and previous three financial…, as usual, the performance of the export will be counted on the basis of FOB, of export earnings in free foreign exchange.” But, for gems & jewellery sector, the ...
