The Director-General of Foreign Trade (DGFT) on Wednesday notified the submissions of Irrevocable Commercial Letter of Credit (ICLC’s) eligible as per Foreign Trade Policy 2015-2020 for the export of onions.
Earlier the DGFT issued the Notification No. 31 dated September 14, 2020, prohibiting the export of all varieties of Onions, with immediate effect.
However, the transitional arrangement under Para 1.05(b) of the Foreign Trade Policy 2015-20 has been made inapplicable under this Notification.
To ascertain the quantity of Onions for which the ICLC has been opened before September 14, 2020, and to take a decision on the applicability of transitional arrangement under the Notification No. 31 dated September 14, 2020, exporters are requested to submit copies of ICLCs opened before September 14, 2020, for export of Onions to their Jurisdictional DGFT Regional Authority (RA) by October 2020.
“The submission of ICLCS with the DGFT RAs is only meant to assess the total quantity of Onion for which ICLCs have been opened before 14.09.2020 and this by no means provides the exporters any right to claim registration of their ICLCs to export onions,” the DGFT said.
The notice clarified that the DGFT RAs will only receive copies of ICLCs from exporters and in no case register them or act on these without further directions/order from DGFT HQ in this regard.Subscribe Taxscan AdFree to view the Judgment