Govt eases norms for exporters to get 'One Star Export House' status
The government on Friday relaxed the 'One Star Export House' eligibility condition for exporters by revising the specific international trade and financial performance norms in three consecutive fiscal years.
Earlier, exporters were required to achieve specific export performance in all three preceding financial years to receive the 'Star Export House' status.
Under the revised norms, export firms reporting the same in any two of the three preceding fiscals will be eligible to get this recognition.
This change, however, does not apply to the gems and jewellery sector as that sector already has a separate two-year requirement under foreign trade policy (FTP) 2023.
The directorate general of foreign trade (DGFT) has amended a provision of the FTP "to allow granting of One Star Export House status to applicants (other than for the Gems and Jewellery sector) who possess export performance in any two out of the three preceding financial years subject to other provisions...".
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