Govt removes export restrictions on diagnostic kits and reagents

Subject – Economy

Context – Govt removes export restrictions on diagnostic kits and reagents

Concept –

The Centre has removed restrictions on the export of all diagnostic kits and reagents, including instruments used in detection of Covid infection, making exports free as there are less concerns of a domestic shortage due to a drop in Covid cases in the country.
The restrictions are being removed with immediate effect, according to a notification issued by the Directorate General of Foreign Trade.
The DGFT also revised its earlier decision of October 4 restricting export of syringes with or without needles.
- Under the revised policy, export restrictions will be applicable only on syringes with certain specified denominations. For all other categories, exports will be free.

Directorate General of Foreign Trade (DGFT)

Directorate General of Foreign Trade (DGFT) organisation is an attached office of the Ministry of Commerce and Industry and is headed by Director General of Foreign Trade.
- Normally a member of the Indian Administrative Service having rendered 30 or more years is appointed to the post of the Director-General of Foreign Trade.
- The Director-General is an Ex-Officio Additional Secretary to the Government of India.
Right from its inception till 1991, when liberalization in the economic policies of the Government took place, this organization has been essentially involved in the regulation and promotion of foreign trade through regulation.
Keeping in line with liberalization and globalization and the overall objective of increasing of exports, DGFT has since been assigned the role of “facilitator”.
- The shift was from prohibition and control of imports/exports to promotion and facilitation of exports/imports, keeping in view the interests of the country.
This Directorate, with headquarters at New Delhi, is responsible for formulating and implementing the Foreign Trade Policy with the main objective of promoting India’s exports.
The DGFT also issues scrips/authorization to exporters and monitors their corresponding obligations through a network of 24 regional offices.