On 14th September 2022, the Directorate General of Foreign Trade issued a notification regarding the revision of the Import Policy of PET Flake. This notification was issued by the Central Government subject to the exercise of powers as conferred in Section 3 to be read with Section 5 of the Foreign Trade (Development and Regulation) Act, 1992, to be read with Para 1.02 and 2.01 f the Foreign Trade Policy (FTP). The Central Government made amendments to the Import Policy, revising Condition No. 2 of Chapter 39 of the ITC (HS), 2022, Schedule I (Import Policy).
The import of PET Flake is now permitted in India subject to the following conditions –
- DGFT Authorization
- NOC from MoEF & CC
- The unit has completed one year after commencing production
- The unit has used domestic waste to the extent of 70% of the capacity in the previous year
- Import is 15% of the actual capacity