Saturday, Apr 20, 2024 | Last Update : 09:05 AM IST
DGFT comes up with online facility to obtain import licence for restricted items
During April-February 2018-19, the country's imports grew 9.75 per cent to USD 464 billion.
New Delhi: The commerce ministry's foreign trade arm DGFT has come up with a new online facility for obtaining import licence for restricted category goods, a move aimed at promoting paperless work and ease of doing business.
Currently, importers need to obtain licence for certain goods such as gold dore, some pulses, plastic waste, and bio-fuels.
"Online application format for obtaining import licence for restricted items is notified," the Directorate General of Foreign Trade (DGFT) said in a public notice.
The development would help in promoting ease of doing business for such imports, an official said. In the online application, importers would have to provide information such as Import-Export Code, total CIF (cost, insurance, and freight) value of consignment and details of imported items.
In the latest ease of doing business report of the World Bank, India improved its ranking to 77th rank in 2018 out of 190 nations from 100th earlier. These rankings are based on 10 parameters which include trade across borders, enforcing contracts and resolving insolvency.
In the parameter of 'Trading across Borders', India's rank improved to 80th in 2018 from 146th rank in 2017. During April-February 2018-19, the country's imports grew 9.75 per cent to USD 464 billion.
