Foreign Trade Policy (2023) is a policy document which is based on the continuity of time-tested schemes facilitating exports as well as a document which is nimble and responsive to the requirements of the trade. It was announced by Mr. Piyush Goyal, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, on March 31, 2023 and came into effect from April 1, 2023 onwards.
The new approach to the policy is based on these four pillars:
Permission Type |
Current Processing Time |
Automatic Route Processing Time |
Advance authorization issuance |
3-7 days |
1 day |
EPCG issuance |
3-7 days |
1 day |
Revalidation of authorizations |
3 days-1 month |
1 day |
Extension of Export Obligation period |
3 days-1 month |
1 day |
Licence Value (in Rs.) |
User Charges for Non-MSMEs (in Rs.) |
Reduced User Charges for MSMEs (in Rs.) |
Up to 1 crore |
1 per 1,000 |
100 |
1-10 crore |
1 per 1,000 |
5,000 |
Above 10 crore |
Cap at 100,000 |
5,000 |
Export performance threshold for recognition of exporters as status holders is rationalized. Enabling more exporters to achieve higher status and reduced transaction cost for exports.
Status House Category |
Existing Export Performance Threshold |
Revised Export Performance Threshold |
One Star |
3 |
3 |
Two Star |
25 |
15 |
Three Star |
100 |
50 |
Four Star |
500 |
200 |
Five Star |
2,000 |
800 |
Towns of Export Excellence |
Product Category |
Faridabad |
Apparel |
Moradabad |
Handicrafts |
Mirzapur |
Handmade Carpet and Dari |
Varanasi |
Handloom and Handicraft |
Recognition-
Market Access Initiative (MAI) Scheme-
Common Service Provider Facility-
Districts as Export Hubs aims to/for:
Click here for Foreign Trade Policy 2023
Click here for Hand Book Of Procedures 2023
Click here for Key Highlight Of Foreign Trade Policy 2023