The Indian Government has liberalized import and export restrictions on goods to a large extent in the last decade. Yet, some restrictions continue to exist like those intended to cover goods and technologies involving dual use. Goods contravening intellectual property rights can be seized as per law. But the overall thrust of the Government has been to give impetus to exports.
The general provisions relating to import and export of goods are contained in the Foreign Trade Policy, 2009-2014 (‘FTP’) and the Handbook of Procedures, 2009-2014 (‘HBP’). In terms of the FTP, exports and imports are unrestricted except where regulated by FTP or any other law in force. The item-wise export and import policy is specified in India Trade Classification, Harmonized System [“ITC (HS)”] notified by the Director General of Foreign Trade (DGFT).
