DGFT has issued Public Notice No. 7 dated 10-5-2005 wherein Paragraph 7.10.7 of Handbook of Procedures has been amended. As per the amended paragraph SEZ units obtaining gold/ silver/platinum from the nominated agencies on loan basis have been permitted to export gold/ silver/platinum within 90 days from the date of release. The earlier time period prescribed was 60 days.

Last year the time period for export of jewellery had been reduced to 60 days. A number of representations in this respect were received from EOUs and SEZ Units. Accordingly in the Annual Supplement of the Foreign Trade Policy announced on 8-4-2005, Paragraph 6.2(f) of the Foreign Trade Policy, relating to EOUs had been amended and the time period had been changed from 60 days to 90 days. This was informed to our members through EPCES Circular No. 40 dated 8-4-2005. After releasing the Annual Supplement of Foreign Trade Policy, we had represented to DGFT that the time period in respect of SEZ should also be changed. Accordingly DGFT has issued Public Notice No. 7 dated 10-5-2005 affecting changes in respect of SEZs as well.

This is for your information please.

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GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
DEPARTMENT OF COMMERCE
DIRECTORATE GENERAL OF FOREIGN TRADE

PUBLIC NOTICE NO. 7 (RE-2005) /2004-2009
NEW DELHI, DATED THE 10th May, 2005

In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2004-2009, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures (Vol. I):

1. Sub-para 7.10.7 shall be amended as under :

“7.10.7 SEZ units obtaining gold/silver/platinum from the nominated agencies on loan basis shall export gold/silver/platinum jewellery within 90 days from the date of release. This shall not however apply to the outright purchase of precious metal from the nominated agencies.”

This issues in Public interest.

( K.T. CHACKO )

Director General of Foreign Trade and

Ex Officio Additional Secretary to the Government of India