DGFT Announces Exemption For Viscose Product Imports From QCO
Date
3/12/2024 2:17:55 PM
(MENAFN- KNN India) New Delhi, Mar 12 (KNN)
The Directorate General of Foreign Trade (DGFT) has announced that imports of viscose products under the advance authorisation scheme will no longer be subject to the mandatory Quality Control Order (QCO).
According to a notification issued on March 11, the DGFT clarified that goods intended for use or consumption in the manufacture of products for exports will be exempted fr0m the QCO.
This exemption applies to Export Oriented Units (EOUs), Special Economic Zone (SEZ) units, and Advance Authorisation holders, allowing them to import without adhering to the Quality Control Order under pre-import conditions.
However, it is important to note that these exemptions are applicable only for physical exports and not deemed exports under Advance Authorisation.
The industry has welcomed this announcement, but it has also raised concerns about the lack of similar exemptions for imports of polyester raw materials.
The QCO mandates adherence to certain quality standards for select products, including viscose staple fiber and viscose filament yarn, being imported into India.
By exempting viscose imports meant for export production fr0m this order, the government aims to enhance the competitiveness of Indian exporters in the global market.
The industry has long been demanding such exemptions, citing the need to seamlessly procure raw materials at competitive prices to maintain a cost advantage in exports.
With this move, the DGFT aims to provide a level playing field for Indian exporters while ensuring quality standards are maintained for domestic consumption.
(KNN Bureau)
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