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of <h1>Foreign Trade Handbook Amended: Arms Trade Ban with Iraq & Libya, Agrochemical Duty-Free Imports, DEPB License Updates.</h1> The Director General of Foreign Trade has amended the Handbook of Procedures (Vol.1) under the Export and Import Policy, 2002-07. Key changes include prohibiting import/export of arms to/from Iraq and certain exports to Libya. Duty-free imports for the agrochemical sector are allowed up to 1% of the FOB value of exports for units with a turnover above Rs. 20 crore, subject to conditions. Defective goods imported under the DEPB scheme can be re-exported with a 98% credit refund. DEPB licenses for certain textiles will be revalidated for six months, barring cases of fraud or misrepresentation.
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