India's regulatory control system ensures transparency in exports: DGFT

As part of the country's strategic trade control system and in consonance with the provisions of international conventions, India regulates the exports of dual-use items, nuclear-related products

The Directorate General of Foreign Trade (DGFT) on Wednesday extended the  import management system for select IT hardware products for another year. This comes at a time when domestic production in India is far lower than the demand.
Under SCOMET, authorisations valued at USD 2.8 billion have been issued by the DGFT as compared to USD 1.4 billion issued in 2023. | File Image
Press Trust of India New Delhi
2 min read Last Updated : Jan 16 2025 | 8:33 PM IST

The country's regulatory system is ensuring a robust and transparent process for exports of high-tech goods, a senior official said on Thursday.

Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said that IT-enabled processes, seamless licensing, and industry outreach will drive these exports while maintaining strong regulatory oversight.

Speaking at the National Conference on Strategic Trade Controls (NCSTC) 2025 at Bengaluru, Sarangi "emphasized the importance of India's export control system in ensuring a robust, transparent process for high-tech exports".

As part of the country's strategic trade control system and in consonance with the provisions of international conventions, India regulates the exports of dual-use items, nuclear-related products, and military goods, including software and technology under the list.

This list is notified by the DGFT under the Foreign Trade Policy.

According to an official statement, the conference focuses on underscoring the importance of effective strategic trade controls, showcasing India's legal and regulatory system in this context, and exchanging best practices and relevant information on strategic trade controls, towards preventing the proliferation of Weapons of Mass Destruction (WMD) and their delivery systems.

Further, it will facilitate dialogue between government authorities and industry stakeholders, assessing and mitigating emerging risks associated with the export of these sensitive goods and technologies.

The export of dual-use SCOMET (Special chemicals, organisms, materials, equipment and technologies ) items has seen substantial growth in the last few years with the value of the authorisations issued doubling in 2024 compared to 2023.

Under SCOMET, authorisations valued at USD 2.8 billion have been issued by the DGFT as compared to USD 1.4 billion issued in 2023.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :India's exportDGFTTrade exports

First Published: Jan 16 2025 | 8:33 PM IST

Next Story