Importance of Para 2.03 of New FTP

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root
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Joined: Sat Apr 04, 2015 3:13 pm

Importance of Para 2.03 of New FTP

Postby root » Mon Apr 06, 2015 5:23 pm

Do you feel para 2.03 of New FTP as under is the main highlight to support Make in India drive.

Domestic Laws/ Rules/ Orders/ Regulations /Technical specifications/ environmental/ safety and health norms applicable to domestically produced goods shall apply, mutatis mutandis, to imports, unless specifically exempted.

logistics
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Joined: Mon Apr 06, 2015 5:40 pm

Re: Importance of Para 2.03 of New FTP

Postby logistics » Mon Apr 06, 2015 5:45 pm

Lot has been discussed after the announcement of new FTP, however it seems entire trade community has overlooked the most significant provision at para 2.03 of FTP. For me the real highlights of the FTP is para 2.03 which reads as under;

Domestic Laws/ Rules/ Orders/ Regulations /Technical specifications/ environmental/ safety and health norms applicable to domestically produced goods shall apply, mutatis mutandis, to imports, unless specifically exempted.

I am sure that this provision will prove to be a game changer in achieving the vision of make in India. Manufacturers in India are subjected to several regulations and applying similar regulations to import will provide level playing field without any burden to Exchequer. Import substitution is likely to get a big boost if this provision is implemented in true spirits.


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