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In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act,1992 (No.22 of 1992) read with paragraph 1.3 of the Export and Import Policy, 1997-2002 (incorporating amendment made up to 31.3.2000), the Central Government hereby makes following amendments in the Export and Import Policy, 1997-2002 (incorporating amendment up to 31.3. 2000.

1. Paragraph 6.8 shall be amended to read as under:-
A person holding an EPCG licence may source the capital goods from a domestic manufacturer instead of manufacturing them. In the event of a firm contract between the parties for such sourcing, the domestic manufacturer may apply for the issuance of Advance Licence for Deemed Exports for the import of inputs including components required for the manufacturer of said capital goods .

The domestic manufacturer may also replenish the inputs including components after supply of capital goods the EPCG licence holders. The export obligation relating to the EPCG licence shall be reckoned with reference to the CIF value of the licence actually utilized.

The word and expression “ paragraph 10.3(b)”, as appearing in 4th and 6th line of paragraph 9.13(b) shall be substituted by the word and expression “ paragraph 10.3(b) & (c)”.

This issues in Public Interest.