DGFT introduced Niryat Bandhu Scheme for International Business Mentoring for Young Turks

The Director General of Foreign Trade (DGFT) on 13 October 2011 announced introduction of a new Niryat Bandhu scheme for international business mentoring for young turks in international business enterprises. The officer (Niryat Bandhu) would function in the mentoring' arena and would be a handholding experiment for the young turks in international business enterprises. Under the scheme, officers of DGFT will be investing time and knowledge to mentor the interested individuals who want to conduct the business in a legal way.

The DGFT also announced that it became India's first digital signature enabled department. According to the new Foreign Trade Policy (FTP) unveiled, a higher level of encrypted 2048 bit Digital Signature has been introduced. Digital certificate provides a high level of security for online communication such that only intended recipient can read it. It provides authentication, privacy, non-repudiation and integrity in the virtual world.

Also, import of radioimmunoassay kits was classified in the restricted category as per ITC HS-Import Schedule. Since the import item is intended for the diagnosis of disease/disorders in humans and animals, the import policy regime for this item was liberalised to free subject to prior permission of Atomic Energy Regulatory Board.

The procedure for transfer or sale of imported firearms was also simplified. For sale/transfer of imported firearms prior permission from DGFT is not required after 10 years of import. Further, this condition of 10 years would not apply if importer attains 60 years of age. Local police licensing authorities or District Magistrates can give permission of sale/ transfer directly. Even for Shooters category, sale/transfer of imported weapons would not require approval from DGFT.

For the first time in the history of foreign trade formulation, the draft text for amendment of HBP v1 was uploaded on the website of DGFT seeking suggestions on the draft.