State the restrictions imposed by the Director General of Foreign Trade (DGFT) on import and export under Foreign Trade Policy and Procedure.
CS Executive · Economic and Commercial Laws · PYQS · December 2021
State the restrictions imposed by the Director General of Foreign Trade (DGFT) on import and export under Foreign Trade Policy and Procedure.
Answer & Explanation:
Director General of Foreign Trade (DGFT) may, through a notification, impose following 'restriction' on import and export: on export of foodstuffs or other essential products for preventing or relieving critical shortages; on imports and exports necessary for the application of standards or regulations for the classification, grading or marketing of commodities in international trade; on imports of fisheries product, imported in any form, for enforcement of governmental measures to restrict production of the domestic product or for certain other purposes; on import to safeguard country's external financial position and to ensure a level of reserves; on imports to promote establishment of a particular industry; for preventing sudden increases in imports from causing serious injury to domestic producers or to relieve producers who have suffered such injury; for protection of public morals or to maintain public order; for protection of human, animal or plant life or health; relating to the importations or exportations of gold or silver; necessary to secure compliance with laws and regulations including those relating to the protection of patents, trademarks and copyrights, and the prevention of deceptive practices; relating to the products of prison labour; for the protection of national treasures of artistic, historic or archaeological value; for the conservation of exhaustible natural resources; for ensuring essential quantities for the domestic processing industry.
Topics: Foreign Trade (Development and Regulation) Act, 1992
Related Questions in this Topic
- Write a note on 'Board of Trade' under the Foreign Trade (Development and Regulation) Act, 1992.
- In the following cases, state with reasons if the trust is created under The Trusts Act, 1882: A bequeaths certain pro...
- A made a gift of a house in favour of B and handed over the deed to B. But before presenting the same for registration A...
- An industry during manufacturing operation had caused major leakage of harmful gas and was ordered to be closed down by ...
- A sub-registrar refuses to register a document on the ground of undervaluation for stamp duty. The person aggrieved with...