Audit file submission procedures require electronic, indexed files preserving integrity and an unalterable audit trail for compliance.
Requires entities under NFRA jurisdiction to submit Audit Files in an electronic format that preserves integrity, authenticity, readability and completeness, with originals retained except as permitted. Submissions must begin with a PDF index, export electronic records and metadata as an integral unit, include an unalterable audit trail recording user actions and timestamps (or disclose its absence), use lossless compression for upload via NFRA's FTP, and include a covering communication stating page count, records/folders and file size along with a description of file-management policies.

WTO-compliant incentives can support exporters as government facilitates capture of post Covid supply chain export opportunities in identified sectors.
Government policy urges exporters and Export Promotion Councils to identify sectoral strengths and pursue global market share as post Covid supply chains shift, with government facilitation via missions abroad. Support measures should be targeted, justified and WTO-compliant. Immediate export opportunities exist in agricultural and processed foods due to a strong domestic harvest and international shortages; EPCs are tasked with developing time bound, large scale export initiatives.

Sunset review timeline relaxation permits later filing before measure expiry, with further exceptional curtailment allowed.
The revised procedure relaxes the minimum advance filing period for Sunset Review investigations under the Customs Tariff Act and Anti dumping Rules, allowing domestic industry to file SSR applications closer to the expiry of an anti dumping measure where genuine difficulty is shown, and authorises the Designated Authority to further relax the timeline in exceptional circumstances.

Liquidity support measures target NBFCs and MFIs to sustain credit flows and ease market funding strains during the pandemic.
The statement announces targeted liquidity operations including further TLTROs directed to investment grade instruments of NBFCs and MFIs, special refinance facilities to All India Financial Institutions for on-lending, a reduction in the fixed rate reverse repo to encourage deployment of surplus funds into productive credit, a temporary increase in WMA limits for states, and a phased relaxation of the Liquidity Coverage Ratio for scheduled banks to support credit intermediation and market functioning during the COVID-19 disruption.

Trade contraction due to COVID 19 disrupted exports and imports, narrowing the provisional overall trade deficit.
India's foreign trade for April-March 2019-20 contracted in both merchandise and services aggregates: March 2020 merchandise exports and imports fell sharply year on year across most commodity groups due to global slowdown and COVID 19 disruptions, oil and non oil import values declined (with oil affected by a large fall in Brent prices), services showed positive growth in February 2020 but March service figures are provisional, and the combined provisional overall trade deficit for April-March 2019-20 narrowed relative to the prior year.

Extensions of compliance deadlines secure exporters by extending authorizations, enabling electronic filings and easing procedural requirements.
The Department of Commerce implemented extensions and procedural relaxations across the Foreign Trade Policy, Handbook of Procedures and sectoral regimes to alleviate COVID 19 disruptions: automatic extensions of policy and authorization validities, export obligation and import validity periods, extended filing windows for RCMC, SEIS, MEIS and RoSCTL claims, and retention of further discretionary extension options under HBP. Concurrently, electronic issuance and acceptance of certificates, acceptance of scanned/digitally signed documents, delegated interim extensions for SEZ/EOU compliances, and adjusted insurance and procurement procedures were authorised to preserve exporters' rights and enable continuity of trade operations.

Customs duty exemption on medical imports allows duty-free importation of ventilators, PPE, masks and test kits.
The Central Government granted immediate exemption from Basic Customs Duty and Health Cess on imports of ventilators, face masks and surgical masks, personal protective equipment (PPE), Covid test kits, and inputs for their manufacture; the exemption is available up to 30th September, 2020 and is effected through a related notification announced in a government press release.

Regulatory coordination urged to resolve industry logistics and export import disruptions with ministry engagement to ease operational bottlenecks.
The Commerce and Industry Minister assured industry that the Ministry is addressing logistics and export import impediments and coordinating concerns with other ministries; feedback on requests for relief has been forwarded to the Finance Ministry for consideration. The Minister urged adoption of calibrated health safety protocols to protect livelihoods without compromising public health and encouraged promotion of the Aarogya Setu app as a technological tool in pandemic response.

Export competitiveness: exporters urged to scale up quality and efficiency to seize post Covid market opportunities.
Exporters are urged to pursue export competitiveness through scale, improved quality, cost efficiency and productivity to harness post Covid opportunities. The Ministry will keep export channels open, assist in clearing urgent export orders affected by the pandemic, and work proactively to revitalize exports and identify new markets. The Government also called for scaling up pharmaceutical capacity for global needs, contributing to relief efforts, and adopting technology for public health surveillance by installing the Aarogya Setu app.

Exchange rate determination for customs duties made effective, specifying conversion rates for import and export calculations.
The Central Board prescribes official conversion rates for listed foreign currencies for customs purposes, specifying separate rates for imported and exported goods and superseding the prior notification; the annexed schedules fix unit and per hundred unit rates as the operative benchmarks for customs valuation from the stated effective date.

Extension of export realisation period enables exporters additional time; WMA limits raised and CCyB not activated.
Extension of the realisation period of export proceeds for eligible exports provides exporters additional time to realise and repatriate receipts and negotiate contracts; Way and Means Advances limits for States/UTs are temporarily increased by thirty percent to ease fiscal liquidity; activation of the countercyclical capital buffer will not be implemented for the coming year pending further review.

Foreign Trade Policy extension preserves export incentives and procedural relief, maintaining exemptions and extended compliance timelines during the pandemic period
Extension of the Foreign Trade Policy 2015-2020 for one year preserves existing export-promotion schemes (except SEIS pending decision), extends the Hand Book of Procedures and Status Holder Certificates, and continues exemptions from IGST and Compensation Cess on imports under Advance/EPCG and by EOUs. The Transport Marketing Assistance scheme is extended, and operational reliefs include automatic six-month extensions for expiring import authorisations and export obligations, extended application timelines for duty credit scrips and authorisations, relaxed late-cut timelines, extended validity of Letters of Permission/Intent for EOUs and additional time for filing refunds, reports and returns under the FTP.