Published Tue, 29 Nov 2022 | Updated Tue, 29 Nov 2022
The Directorate General of Foreign Trade published a notification on September 14, 2022, about the change of the PET Flake Import Policy. The Central Government issued this notification in accordance with the authority granted to it by Section 3 of the Foreign Trade (Development and Regulation) Act of 1992, read along with Section 5, and by Paragraphs 1.02 and 2.01 of the Foreign Trade Policy (FTP). The Import Policy was modified by the Central Government, who also changed Condition No. 2 of Chapter 39 of the ITC (HS), 2022, Schedule I. (Import Policy).
The following requirements must be met in order for PET Flake to be imported into India:
NOC from MoEF & CC
The unit has completed one year after commencing production
The unit has used domestic waste to the extent of 70% of the capacity in the previous year
Import is 15% of the actual capacity