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of <h1>India Updates Import Rules: SIL Now Requires Surrender of Three Times c.i.f. Value; Lists Freely Importable Goods</h1> The notification from the Ministry of Commerce, Government of India, amends the ITC(HS) Classifications of Export and Import Items for the period 1997-2002. It stipulates that items previously importable under Special Import Licence (SIL) now require surrendering SIL equivalent to three times the c.i.f. value of imports. The notification lists various goods, primarily food items, textiles, and consumer goods, as freely importable, while others are restricted and require a licence. It also outlines specific conditions for importing animals, plants, and certain industrial goods. The notification aims to regulate and streamline import procedures, ensuring compliance with existing trade policies.
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