New Delhi, Jan 3 The Directorate General of Foreign Trade (DGFT) has notified the amendment in the Foreign Trade Policy, 2023 to make it necessary to hold consultations with stakeholders to seek views, suggestions, comments or feedback from relevant stakeholders, including exporters and industry experts concerning the formulation or amendment of the Foreign Trade Policy.
The latest amendment in the Foreign Trade Policy, 2023 was made to include Para 1.07A and 1.07B to bring legal backing to holding stakeholder consultations.
It also provides the mechanism to inform reasons for not accepting views, suggestions, comments or feedback concerning the formulation or amendment of the Foreign Trade Policy, 2023.
The latest amendments reflect upon the Central government’s commitment towards strengthening the scope of Ease of Doing Business (EoDB) in India by encouraging stakeholder and expert participation through consultation in the decision-making process, the official statement said.
The key objective of the amendments is to encourage the participation of all stakeholders in the decision-making process before introducing or changing policy and procedures affecting the importation, exportation, and transit of goods along with a reasonable opportunity to comment and contribute in the process.
The government is committed to ensuring due consideration is given to every valuable feedback which is received from stakeholders.
However, at the same time, the government has to remain cognizant of the fact that multiple stakeholders may offer different opinions on the same subject and in such cases for smooth functioning of business the government ought to reserve to itself the right to take a final call.
It is only to deal with exceptional circumstances such as this, that the right to suo motu formulate policies has been reserved with the government, the statement explained.
The notification needs to be read in the light of the overall inclusiveness it is ushering into decision-making, the exception to the notification which provides for suo motu decision-making to meet contingencies has, after all, to be seen in the broader sovereign power of the government, the statement said.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor