Criteria for Recognition as ‘Status Holder” changed by DGFT
A. Amendment in Para 3.20(b) of Foreign Trade Policy 2015-20 reg. Criterion for Recognition as Status Holder
The criteria for recognition as status holder has been changed vide DGFT Notification No. 4/2015-2020 dt 29th April 2016 whereby w.e.f 01.04.2016 the exports in the current and previous three financial years will be considered as against the existing criteria of current and previous two financial years. However, for the Gems and Jewellery Sectors the existing criteria of export performance in the current and previous two years shall continue.
B. Amendment in Form ANF 3C (Online Application for Status Certificate)
The DGFT, vide Public Notice No. 5/2015-2020 dt. 3 May 2016, has amended Form ANF 3C to give effect to the amendments regarding criteria for recognition as status holder.
To conclude, all exporters of goods, services and technology having an import-export code (IEC) number shall be eligible for recognition as a status holder on achieving export performance (based on FOB of export earning in free foreign exchange) during the current and previous three financial years (for Gems & Jewellery Sector the performance during the current and previous two financial years shall be considered for recognition as status holder).