FA, 2020 amendment increasing...
Section 2.58 of FTP accommodates unwinding of Policy and Procedures on grounds of authentic difficulty and unfavorable effect on exchange. A Policy Relaxation Committee will be fittingly established under passage 2.58 of FTP.
As per which the DGFT may in public interest adopt such orders or grant such exemption, relaxation or relief, as it may consider appropriate and appropriate, on grounds of genuine hardship and adverse impact on trade to any person or class or category of persons from any provision of Foreign Trade Policy (FTP) or any Procedures. In this regard, DGFT has released user guide for online application.
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