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of <h1>Foreign Trade Policy Update: Exporters Can Extend Obligations by 2 Years with New Fee or Obligation Increase Option.</h1> The Director General of Foreign Trade has amended the Handbook of Procedures (Vol.I) (RE-2008) under the Foreign Trade Policy, 2004-09. The amendment pertains to paragraph 5.11, which deals with the extension of export obligations. Exporters can now request a first extension of up to two years by paying a composition fee of 2% of the proportionate duty saved on unfulfilled export obligations or by accepting a 10% increase in the total export obligation. This amendment aims to provide flexibility to exporters while maintaining other existing provisions of paragraph 5.11.
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