New Foreign Trade Policy Amendment for Electronics and IT Goods FTP 2023, ITC HS 2022
Streamlining Import Policies for Electronics and IT Goods
The Ministry of Commerce and Industry has issued an important notification, announcing amendments to the Foreign Trade Policy (FTP) 2023 and the ITC HS 2022 Schedule 1 Import Policy. These changes aim to enhance compliance and streamline the import process for electronics and IT goods, ensuring they meet stringent standards for quality and safety.
Key Amendments in FTP 2023
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Updated Import Conditions for Electronics and IT Goods
The Ministry of Commerce and Industry has issued an important notification, announcing amendments to the Foreign Trade Policy (FTP) 2023 and the ITC HS 2022 Schedule 1 Import Policy. These changes aim to enhance compliance and streamline the import process for electronics and IT goods, ensuring they meet stringent standards for quality and safety.
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General Notes on Import Policy
The General Notes Regarding Import Policy of ITC (HS) 2022 Schedule-I now state that all electronics and IT goods, whether new, second-hand, refurbished, repaired, or reconditioned, must be registered with the Bureau of Indian Standards (BIS) and meet BIS labelling requirements. Non-compliant goods must be re-exported or disposed of as scrap.
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Policy Conditions for ITC HS 2022
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Chapter 84 & 85: Import policy for electronics and IT goods mandates BIS registration and compliance with labelling requirements. Non-compliant goods must be re-exported or destroyed.
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Chapter 85 & 94: For LED products and control gears, samples will be randomly tested for safety standards. Non-compliant consignments will be returned or destroyed at the importer's expense.
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Implications of the Notification
These amendments reinforce the re-notification of the "Electronics and Information Technology Goods (Requirement of Compulsory Registration) Order, 2012" as the 2021 Order under the BIS Act 2016. This ensures that imported electronics and IT goods adhere to updated safety and quality standards, protecting consumers and maintaining market integrity.
Conclusion: Ensuring Quality and Compliance
The Ministry of Commerce and Industry's amendments to the Foreign Trade Policy and ITC HS Import Policy reflect a commitment to quality and safety in the import of electronics and IT goods. By enforcing stringent registration and compliance requirements, these changes help safeguard the market and ensure that only high-quality, compliant products reach consumers. For detailed information, importers are encouraged to review the updated policies and ensure adherence to the new regulations to facilitate smooth import processes and avoid potential penalties.
