The Corona virus was started in China and has captured almost all the countries. At present the world is fighting with corona virus and has nearly 1 Crore 90 Lakhs cases worldwide and India alone has registered more than 2 Million cases. The WHO has declared the Corona virus as pandemic, the Government of India has taken following steps as precautionary steps taken by the Indian Government. India has started conducting screenings and compulsory quarantined to incoming international travelers and suspended all the visas except diplomats and employment visas, till 15th of April, All the borders were sealed and operations at railways bus stops were suspended. All the Schools, malls, gyms, hotels, clubs, halls were shut.
With the normal lives Corona virus affected Import export business too and to help importers and exporters Government has taken following measures –
- The Commerce and Industry ministry set up the helpdesk which is handled by the DGFT so that importers – exporters can flag their import export issued directly to the DGFT by just a phone call on toll free no. or Email.
- The Government extended the Foreign Trade policy 2015-20 till 31st march 2021,
- The export Promotion councils same up with range of suggestions considering the impact of pandemic on business activities and trade,
- DGFT extended the validity of RCMC (Registration Cum Membership certificate) beyond 31st march 2020 for 6 months.
- Handbook of procedures under Foreign trade policy extended for more 1 year,
- The Government amended the export policy of Hydroxychloroquine, diagnostics kit.
- On 13the March Government announced discontinuation of MEIS scheme and approved RoDTEP scheme which is going to replace existing scheme in a phased manner. There is no any scheme to reimburse all the taxes at present only 30% of the taxes are refunded in the current scheme. With RoDTEP scheme Government will make sure not to export any kind of taxes with the export products which in turn will make the products less competitive in Global markets.
- Relaxations given in TMA application for submission of physical copies.
- Government approved the continuation of MEIS scheme for more one year and introduce RoDTEP scheme, which is going to replace meis scheme.
- Government amended the export policy of hand sanitizers and paracetamol, masks.
- DGFT extended the interest equalization scheme for pre post shipment rupee export credit for more one year.
- Duration of validity MEIS/SEIS scrips are increased.
- Amendment in export policy of PPE kits and ventilators.
There are the list of amendments done by DGFT under foreign trade policy to combat with Corona Virus by the Indian Government.