Page 46 - ELT_15th August 2020_Vol 373_Part 4

DGFT in ‘overhaul’ mode to address trade issues — Focus
on building capacities to accelerate exports
The Directorate General of Foreign Trade (DGFT) is undergoing a re-
vamp to address issues related to trade barriers as well as help build capacities to
accelerate exports, said the Organisation’s Chief on 5-8-2020. The body is work-
ing in consultation with the industry to augment domestic manufacturing and
boost exports in several electronics and hardware items, especially those in the
healthcare and pharmaceutical sector.
The development comes after the Government earlier this year had to
block exports of crucial devices like ventilators when it was found that there was
not enough domestic capacity for these products to allow the industry to meet
foreign commitments. The DGFT recently lifted the ban on exports after suffi-
cient capacity had been created and seeing as the case fatality rate in the country
was low, which meant less people needed to be on ventilators.
According to DGFT Amit Yadav, the body is in an “overhaul” mode and
several changes are being introduced to respond to present challenges. “By the
end of this year, we hope to complete the overhaul work and many changes will
be brought about to address the trade barriers and to ensure ease of doing busi-
ness,” he said while addressing an interactive webinar organised by the Electron-
ics and Computer Software Export Promotion Council (ESC).
The DGFT, in consultation with industry bodies, is focusing on creating
more capacities within the country to produce items in the electronics and hard-
ware sector, including ventilators, which can reduce the country’s import de-
pendence and augment exports, as per a release on the session.
“Within our set up, we are consulting with industry and others where
we should focus to create new capacities to reduce import and accelerate ex-
ports,” Yadav said, as per the release.

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EXCISE LAW TIMES  15th August 2020  46