Through Public Notice No. 35/2004-2009 dated December 23, 2004, the Government of India amended provisions in the Handbook of Procedures (Vol. I) under the Foreign Trade Policy 2004-09. Sub-paragraphs 6.5.3 and 7.9.5 were updated to grant exporters increased flexibility. Specifically, exporters are now allowed to fix the price and repay gold loans within 180 days from the date of export. This amendment, issued under the powers conferred by Paragraph 2.4 of the policy, aims to streamline repayment processes and support export-related activities. The changes were introduced in the public interest to ensure greater operational ease for exporters managing gold loans.
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE & INDUSTRY
DEPARTMENT OF COMMERCE
PUBLIC NOTICE NO. 35/2004-2009
Dated: 23rd December, 2004
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 the Handbook of Procedures ( Vol. I ):-
1. The first sentence of sub-para 6.5.3 stands amended as under:-
“ The exporter shall have the flexibility to fix the price and repay the gold loan within 180 days from the date of export.”
1. The first sentence of sub-para 7.9.5 stands amended as under:-
“ The exporter shall have the flexibility to fix the price and repay the gold loan within 180 days from the date of export”.
This issues in Public interest.
Sd/-
( K. T. Chacko )
Director General of Foreign Trade
( F.No.01/92/180/34/AM05/PC.II )
