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Saturday, April 20, 2024

Government releases new policy for exporting telecom equipment & info security software

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In Short:

The government has introduced a policy allowing the export of certain telecom and information security items under a dual-use products policy. The policy, announced by the Directorate General of Foreign Trade, will grant one-time bulk licenses for special items falling under the SCOMET category. Exporters will need to apply online through the SCOMET portal and adhere to a specific format. The policy also includes a detailed procedure for authorization, with export of SCOMET items allowed under a one-time general authorization valid for three years. This policy aims to streamline the export process for these sensitive items.

How Will the Government’s New Telecom Policy Impact TSPs’ Revenues in the Future?

The government’s new telecom policy could have a significant impact on TSPs’ gross revenues in the future. According to TRAI data reveals TSPs’ gross revenues, the shift in regulations and policies could potentially affect the financial performance of telecom service providers in the coming years.

Unlocking Opportunities for Telecom and Information Security

Easing Export Procedures

Exciting news for exporters as the government introduces a policy for general authorization for the export of specific telecom and information security-related items under a policy for dual-use products. The Directorate General of Foreign Trade (DGFT) has issued a notification regarding one-time bulk licenses for items falling under the special chemicals, organisms, materials, equipment, and technologies (SCOMET) category.

Simple Application Process

Exporters can now apply for a one-time license online through the SCOMET portal by submitting the required information in the prescribed format. This streamlined process aims to facilitate smoother export operations.

Extended Validity Period

Furthermore, DGFT has outlined a detailed procedure for these authorizations where export of indigenous or imported SCOMET items will be permitted under a one-time general authorization (GAET). Notably, GAETs issued for SCOMET items’ export or re-export will be valid for a generous period of three years, providing exporters with ample time to capitalize on market opportunities.

Government, Directorate General of Foreign Trade (DGFT), and SCOMET items paving the way for smoother export processes and extended validity periods. Great news for the telecom and information security sectors!

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