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of <h1>Foreign Trade Policy 2015-2020: Regulating India's Import/Export with Restrictions, Codes, and Compliance Requirements</h1> The statutory provisions outlined in the Foreign Trade Policy 2015-2020 regulate the import and export of goods and services in India. Exports and imports are generally free unless restricted by prohibitions, restrictions, or exclusive trading through State Trading Enterprises. The Indian Trade Classification (Harmonised System) classifies goods for export/import, aligning with international standards. Compliance with domestic laws is required unless exempted, and an Importer-Exporter Code is mandatory for trade activities. The Directorate General of Foreign Trade (DGFT) can impose restrictions for various protective reasons. Specific provisions govern the trade of restricted goods, SCOMET items, and second-hand goods. The policy also addresses trade with specific countries, import/export through courier services, and the role of Export Promotion Councils.
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