(MENAFN- KNN India) New Delhi, Mar 28 (KNN) The Indian government has notified a new policy for granting one-time bulk licenses for the export of certain telecommunication-related and information security-related items under the Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) category.
SCOMET items are considered dual-use goods, meaning they have both civilian and military applications, and their export is subject to stringent regulations to prevent their misuse or diversion for unauthorised purposes.
The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce, announced the policy through a notification, stating, "The policy for general authorisation for export of telecommunication-related items under SCOMET category...and export of information security items under SCOMET category...to grant one-time bulk licences for these items has been notified."
Under the new policy, exporters can apply for a one-time bulk license through the online SCOMET portal, streamlining the process and reducing the administrative burden.
Applicants will be required to submit their applications and attach the necessary information in the prescribed format.
The DGFT has also notified a detailed procedure outlining the steps and requirements for obtaining these authorisations. This move aims to facilitate legitimate trade while ensuring compliance with national security and non-proliferation objectives.
The policy is expected to benefit exporters in the telecommunication and information security sectors, enabling them to capitalise on global market opportunities while adhering to the highest standards of export control regulations.
(KNN Bureau)
MENAFN28032024000155011030ID1108034033
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.