Economy

DGFT plans to hold regular talks with Customs Dept

Jayanta Mallick Kolkata | Updated on January 23, 2018 Published on May 04, 2015

Sanjeev Nandwani, Additional Director General of Foreign Trade, Directorate General of Foreign Trade (left) flanked by C R Bhattacharjee, Chairman (ER) CAPEXIL at an Incisive Analysis of Foreign Trade Policy 2015–20 event in Kolkata on Monday. Photo: Ashoke Chakrabarty

The Directorate General of Foreign Trade is planning to institutionalise regular "systemic interaction" between DGFT and Customs Department.

Sanjeev Nandwani, Additional Director-General of Foreign Trade, told reporters on the sidelines of an event organised by the Bengal Chamber of Commerce and Industry here on Monday that the attempt was to have such meetings once in every two months.

"This is to facilitate operational coordination between the two wings of the Government in terms of monitoring foreign trade," Nandwani said.

Meanwhile, DGFT would hold port officers'meeting on May 15, first after the Foreign Trade Policy 2015-20 was announced on April 1.

Under the new policy regime, the policy review would be conducted during the mid-term (after 30 months), and regular operational review meetings based on the feedback would occur from time to time.

According to trade insiders, there are quite a few misgivings about the clubbing of advance licence authorisation. The trade expects to sort out some of them with DGFT going forward.

During 2014-15, India's exports touched $310.5 billion against $314.4 billion in the previous year. Imports, on the other hand, stood at $447.5 billion ($450.2 billion). Trade deficit stood at $137 billion ($135.8 billion).

Published on May 04, 2015
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