Import Policy Order
The Import Policy Order covers a period of 5 years — the last one being for the period from July 2010 to
June 2015. As per this Import Policy, goods and commodities are divided into 4 groups as shown below:
a) List of items banned for import.
b) List of items import of which is subject to certain conditions.
c) Foot Note: This list contains further conditions with regard to import of items on Banned list and conditional list.
d) Freely importable items: All items excepting those mentioned in the Banned list and conditional list are freely importable.
The other main issues covered by this Import Policy Order are as follows:
a) Source of finance and items permissible for import against
i) Cash Foreign Exchange;
ii) Foreign Aid/Credits/Grants/Barter and others.
b) The procedure for imports by industrial consumers, commercial imports and actual users, including formation of groups by smaller importers.
c) Basis of licensing for the category holders of various permissible items including repeat licensing procedure.
d) The date of opening of IJC and shipment and procedure for submission of Letter of Credit Authorization (LCA) forms covering various items of import.
e) Conditions for entry of new comers into Import Trade.
f) Conditions for import by established importers and industrial consumers.
g) Procedure for imports under O.G.L. if any.
h) Import by TCB and other Govt. Agencies.
i) Validity of licences with regard to LJC opening and shipment thereof.
j) Rules relating to revalidation of licence (LCA form) and extension of L/C.
k) Change of items by the Commercial Importers.
Definition of some important terms used in the Import Policy:
a) ‘Basis of Licensing’ means percentage, rate or formula adopted for determining the share of an importer.
b) ‘Category’ means half-yearly import entitlement of a registered commercial importer.
c) ‘Commercial Importer’ means an importer who import goods for sale in thcz same form.
d) ‘Entitlement : means half-yearly requirements of raw materials or spares of an industrial unit V assessed or recommended by the sponsoring authority.
e) ‘Industrial Consumer’ means a firm or a unit requiring materials for manufacture of its products.
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