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of <h1>India's Foreign Trade Policy: Key Regulations on Import/Export, SCOMET Items, IEC Exemptions, and Tariff Rate Quotas</h1> The statutory provisions detail the regulations governing exports and imports in India, as outlined in the Foreign Trade Policy (FTP) and the Hand Book of Procedure (HBP). It covers the general policy, country-specific trade restrictions, application procedures, and fees related to the import and export processes. Importer and exporter profiles must be updated annually, and certain categories are exempt from obtaining an Importer Exporter Code (IEC). The document also specifies the conditions for importing restricted items, including metallic waste and scrap, and outlines the procedures for obtaining export authorizations, especially for sensitive items like Special Chemicals, Organisms, Materials, Equipments, and Technologies (SCOMET). Additionally, it addresses the import under lease financing, warehousing facilities, and the issuance of certificates of origin. The provisions also cover the issuance of Registration-cum-Membership Certificate (RCMC) for exporters, the process for electronic data interchange, and the tariff rate quota scheme for specific goods.
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