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Export licensing requirement
On 1 April 2015, the new Foreign Trade Policy 2015-2020 was announced which amended the export authorization period on SCOMET goods.
Under the Indian Foreign Trade Policy, the exports of SCOMET (Special Chemicals, Organisms, Materials, Equipment, and Technologies) products are restricted and an Authorization has to be obtained for the same. In the new Trade Policy 2015-2020, the authorization period for the export of SCOMET goods has been extended from 12 months to 24 months.
On 31 March 2020, the Ministry of Commerce and Industry announced that the existing Foreign Trade Policy 2015-2020, which was to expire on 31 March 2020, will be extended till 31 March 2021.
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