Automatic 'Status Holder' Certificates
- Recently, the Union Minister of Commerce & Industry unveiled an initiative involving the issuance of automatic 'Status Holder' certificates under the Foreign Trade Policy (FTP) 2023.
- This system eliminates the need for exporters to apply for a Status Certificate manually, relying instead on an IT system's assessment based on available merchandise export data and risk parameters from the Directorate General of Commercial Intelligence and Statistics (DGCIS).
- This shift reduces compliance burdens and fosters ease of doing business.
- This initiative, recognizing about 20,000 exporters as Status Holders, is poised to significantly boost the export ecosystem and help achieve India's export target of USD 2 ....
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