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of <h1>Foreign Trade Policy 2023: Deemed Exports Policy Includes Duty Drawbacks, Excise Refunds, and Risk Management Procedures</h1> The Foreign Trade Policy 2023 outlines provisions for 'Deemed Exports,' which refer to transactions where goods remain within the country, with payments made in Indian rupees or foreign exchange. These exports are categorized into supplies by manufacturers and contractors, including goods supplied against specific authorizations, to export-oriented units, and for projects financed by international agencies. Benefits for deemed exports include advance authorizations, duty drawbacks, and excise duty refunds, subject to conditions. The policy mandates direct supply to designated entities and outlines procedures for refunds, risk management, and penal actions for misrepresentation. Specific benefits apply to supplies of cement, steel, and fuel under certain conditions.
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