ANNOUNCEMENT 07 Aug 2013In August 2013, the government of India announced a change in import formalities.
NUMBER OF INTERVENTIONS
Steel and Steel Products(Quality Control) Second Order 2012.
On 7 August 2013, the Indian Ministry of Commerce & Industry (according to Notification No. 33 (RE-2013)/2009-2014) relaxed certain quality certification requirements for the importation of steel and steel products used in large infrastructure and other investment projects (including in the petroleum, high-tech manufacturing, nuclear power, defence, chemical, petro-chemical as well as fertiliser industries).
The imports for these projects are eased of the applicability of Steel & Steel Products (Quality Control) Order, 2012, that specifies standards and certification requirements for steel products manufactured or sold in India.
Under the new regulation, a project is eligible to benefit from the eased import rules if
- the project's investment amount is at least INR 10 billion,
- the imported goods are actually used for the project,
- and the imports have received a quality certification from the recognised Quality Certifying Body of the country of origin.
The notification is valid for 2 years from the date of the Notification.