TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY
PART-II, SECTION-3, SUB SECTION (ii)
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
NOTIFICATION No. 16 / 2002-07
NEW DELHI: the 8th October , 2002,
In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.1 of the Export and Import Policy, 2002-07, the Central Government hereby amends/corrects the Export and Import Policy, 2002-07 as under:
An Advance Licence holder and holder of DFRC intending to source the inputs from indigenous sources / state trading enterprises/ EOU/ EPZ/ SEZ/ EHTP/ STP units in lieu of direct import has the option to source them against Advance Release Orders denominated in foreign exchange / Indian rupees. The transferee of a DFRC shall also be eligible for ARO facility.
An Advance Licence holder and holder of DFRC may, instead of applying for an Advance Release Order, avail of the facility of Back-to-Back Inland Letter of Credit in accordance with the procedure specified in Handbook (Vol.1).
This issues in public interest.
Director General of Foreign Trade
Ex officio Addl Secretary to the Government of India
Dy. Director General of Foreign Trade