Notification No. 15/2002-07, issued on September 13, 2002, amends the Export and Import Policy 2002-07 under Section 5 of the Foreign Trade (Development and Regulation) Act, 1992. The key change is the insertion of subparagraph 5.5.2, which grants a 12-year period from the issuance date of the Export Promotion Capital Goods (EPCG) license for fulfilling export obligations. This extension applies specifically to units located in agri export zones, providing them additional time to meet export requirements. The amendment aims to support the growth of the agricultural export sector by allowing more flexibility in fulfilling licensing conditions. The decision is issued in the public interest, with the goal of encouraging exports from these zones.
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
NOTIFICATION No. 15/2002-07
NEW DELHI: the 13th September , 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:
1) A new sub paragraph 5.5.2 is inserted as under:
In the case of EPCG licences issued to units in the agri export zones, a period of 12 years reckoned from the date of issuance of the licence would be permitted for the fulfillment of export obligation.
This issues in public interest.
(L.Mansingh)
Director General of Foreign Trade
Ex officio Addl Secretary to the Government of India
(A.B.Menon)
Dy. Director General of Foreign Trade
(F.NO. 01/94/180/20/AM03/PC-IV)
