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of <h1>DGFT Updates Import Policy for Vehicles Under EPCG Scheme; Sets Foreign Exchange Earnings Criteria and Duty Limits</h1> The Directorate General of Foreign Trade (DGFT) has amended the policy regarding the import of motor vehicles under the Export Promotion Capital Goods (EPCG) Scheme. The amendment specifies that the import of motor cars, sports utility vehicles, and all-purpose vehicles is restricted to hotels, travel agents, tour operators, tour transport operators, and companies operating golf resorts with a minimum foreign exchange earning of Rs 1.5 crores from relevant sectors over the current and preceding three licensing years. Additionally, the duty saved on EPCG licenses for these imports must not exceed 50% of the average foreign exchange earnings from these sectors over the past three years. Importing parts like chassis is not permitted under this scheme.
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