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of <h1>Imports and Exports Regulated by Foreign Trade Policy; Key Restrictions on Diamonds, Arms, and Nuclear Items.</h1> Exports and imports are generally free unless regulated by the Foreign Trade Policy (FTP) or other laws. Specific prohibitions include importing rough diamonds from Cote d'Ivoire and Venezuela, and arms from Iraq. Trade with North Korea and Iran involving nuclear or weapon-related items is restricted. Compliance with domestic laws and obtaining necessary authorizations are mandatory. The Directorate General of Foreign Trade (DGFT) can interpret policies, set procedures, and grant exemptions. Importer-Exporter Code (IEC) is required for trade, and specific rules apply to second-hand goods, bonded warehouses, and export contracts. Grievance redressal mechanisms and trade facilitation measures are in place to support exporters and importers.
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