DGFT Grants 30-Day Extension for Gems & Jewellery
DGFT Grants 30-Day Extension for Gems & Jewellery Export Obligations under FTP 2023
In view of the ongoing geopolitical developments affecting global trade and logistics, the Director General of Foreign Trade (DGFT) has announced certain relaxation measures to support exporters in the Gems & Jewellery sector.
Exercising the powers under Paragraphs 1.03 and 2.04 of the Foreign Trade Policy (FTP) 2023, the DGFT has amended the Handbook of Procedures (HBP) 2023 to introduce temporary relief provisions.
Key Relaxations Introduced
As a one-time measure, the following extensions have been granted where the prescribed period is expiring between 1 March 2026 and 31 May 2026:
1. Extension of Re-Export Period
For cases covered under Para 4.74(c) of HBP 2023, if the re-export period expires during the above timeframe, it will automatically stand extended by 30 days from the original date of expiry.
2. Extension of Export Period
For provisions under Paras 4.76(c), 4.81(b), 4.82(b), and 4.83(c) of HBP 2023, the export obligation period expiring between 1 March 2026 and 31 May 2026 will also automatically receive an extension of 30 days from the expiry date.
3. Extension of Re-Import Period
Under Para 4.79(c)(i)(a) of HBP 2023, the re-import period expiring within the same timeframe will likewise be extended by 30 days from the original expiry date.
No Application or Fee Required
Exporters can avail these relaxations automatically. No separate application, amendment request, endorsement, or composition fee is required to be submitted to any authority.
Role of Customs Authorities
Customs authorities will allow the relevant export or import operations in accordance with the above relaxations, subject to verification of applicable documentation and details.
Impact of the Notification
These facilitative provisions have been introduced to support the Gems & Jewellery sector, which has been affected by recent geopolitical developments in West Asia. The measures aim to ease compliance by granting automatic 30-day extensions for export, re-export, and re-import timelines without any procedural requirements or fees.
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