Introduction: The Directorate General of Foreign Trade, under the Ministry of Commerce and Industry, Government of India, has issued Public Notice No. 44/2023 on February 22, 2024. This notice pertains to the suspension of inoperative Standard Input-Output Norms (SION) with effect from April 1, 2024.
Detailed Analysis: In the exercise of powers conferred under paragraph 1.03 and 2.04 of the Foreign Trade Policy, 2023, the Director General of Foreign Trade (DGFT), Mr. Santosh Kumar Sarangi, announces the suspension of specific SIONs listed in Annexure “A” of the notice. These norms, which have been inactive for the past five years, are set to be suspended unless otherwise notified.
Traders and businesses affected by this decision have the opportunity to represent their case for the reinstatement of any SION facing suspension. The representations must be submitted via email to “[email protected]” and should reach the DGFT no later than March 15, 2024.
The impact of this Public Notice is significant for entities relying on the mentioned SIONs in their trade operations. The suspension, effective from April 1, 2024, necessitates a review of existing norms and a potential adjustment of strategies by affected businesses. The DGFT’s decision aims to streamline trade policies and eliminate redundant or obsolete norms, fostering a more efficient and relevant foreign trade framework.
Conclusion: The Directorate General of Foreign Trade’s decision to suspend inoperative SIONs underscores the government’s commitment to align foreign trade policies with current industry needs. Businesses are urged to stay informed about these changes and, if affected, promptly submit representations for the reinstatement of specific SIONs. This move is expected to enhance the effectiveness of trade policies, ensuring they remain dynamic and reflective of contemporary trade practices. For more details, refer to Public Notice No. 44/2023 issued from File No. 01/02/83/AM-24/EG&TF.
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Government of India
Ministry of Commerce and Industry
Department of Commerce
Directorate General of Foreign Trade
Vanijya Bhawan
Public Notice No. 44/ 2023 – DGFT | Dated: 22th February, 2024
Subject: Suspension of inoperative SIONs w.e.f. 1St April, 2024-reg
S.O. (E): In exercise of powers conferred under paragraph 1.03 and 2.04 of the Foreign Trade Policy, 2023, as amended from time to time, the Director General of Foreign Trade hereby suspends Standard Input-Output Norms (SION) mentioned at Annexure “A” to this Public Notice with effect from 1st of April, 2024.
2. Representation for reinstatement of any SION due for suspension may be submitted vide e-mail to “[email protected]”, not later that 15th of March, 2024.
Effect of this Public Notice: The SIONs as at Annexure “A” have been observed to be inoperative over the last 5 years. Unless otherwise notified, the same shall be suspended with effect from 1st April, 2024.
(Santosh Kumar Sarangi)
Director General of Foreign Trade &
Ex- officio Addl. Secretary to the Government of India
Email: [email protected]
[Issued from File No. 01/02/83/AM-24/EG&TF]
