DGFT To Issue 20,000 Exporter Status Certificate By Year End

2023-11-16 02:19:24

(MENAFN- KNN India) New Delhi, Nov 16 (KNN) The Director General of Foreign Trade (DGFT), under Commerce Ministry is likely to issue about 20,000 status holder certificates to exporters by the end of this year, a senior official said on Wednesday.

Santosh Kumar Sarangi, DGFT said this would be a big jump in the issuance of these certificates, and so far, they have issued over 40,200 status-holder certificates.

“There are another 2,000 applications, which are under scrutiny because of their prior history. But ultimately, those will also get issued, and by the end of this year, we expect about 20,000 status holders to be recognised through this automated process,” he told reporters.

Last month, DGFT said that an exporter status certificate will now be issued based on the available electronic data, and traders will not have to apply to get the recognition.

These certificates provide certain privileges, including simplified procedures under foreign trade policy (FTP), priority custom clearances on a self-declaration basis, and exemption from compulsory negotiation of documents through banks and filing bank guarantees for FTP schemes.

(KNN Bureau)

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