“Exempt QCO against Advance Authorizations”, Chairman, SRTEPC

The Chairman, SRTEPC pointed out that QCOs for textiles have exempted imports for re-export purpose from the compliance of its requirements. “On similar lines, Raw Materials imported against Advance Authorizations are also used for the manufacture of finished products that are subsequently exported,” said Shri Dodhia.

The Chairman, SRTEPC stated that there are adequate in-built provisions and mechanisms under the Foreign Trade Policy to ensure that finished goods    manufactured out of raw materials imported against Advance Authorizations are exported within the prescribed time frame.

Further, materials imported against Advance Authorizations are subject to Actual User Condition and are not transferable even after completion of the stipulated Export Obligation”, pointed out Shri Dodhia.

“However, QCOs are welcome as it will ensure availability of good quality raw materials in our country and will prevent import of sub-standard goods”, said the Chairman, SRTEPC.

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