India’s export policies are evolving to keep pace with the country’s aspirations to be a leading global exporter of high-technology products. The Foreign Trade Policy (FTP) 2023 makes some key reforms to export licensing norms for sensitive items under the Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) list. These changes aim to boost India’s competitiveness in international trade of dual-use technologies while meeting its commitments to export control regimes.
SCOMET Export Control Aligns with International Commitments
The SCOMET export control policy underscores India’s commitment to various international export control regimes like the Wassenaar Arrangement, Australia Group and Missile Technology Control Regime. These regimes aim to control trade in sensitive dual-use goods, software and technologies globally.
Recent Reforms Simplify SCOMET Licensing
FTP 2023 introduces general authorizations for export of certain SCOMET items. This helps streamline licensing and make Indian exports of dual-use items more competitive globally.
Focus on Facilitating High-Technology Exports
The policy focuses on simplifying export norms for high-end dual use goods and technologies like drones, cryogenic tanks, certain chemicals etc. The aim is to boost India’s export potential in these sectors.
The emphasis on streamlining SCOMET licensing procedures in FTP 2023 highlights India’s balanced approach to high-technology exports. By simplifying rules while stressing compliance, the policy creates a favorable ecosystem for Indian exporters to tap into global markets for dual-use technologies. The reforms reflect India’s maturity as a responsible exporter that contributes to international security while expanding its strategic economic interests.