Re-exports to Iran of food, medicine made easier

New Delhi, May 1 (KNN)  India has liberalized its export regime to Iran, making it easier for the exporters to ship their goods to the Middle East Country with which the US has also been improving relations in the recent past.

The Commerce Ministry has made an amendment in the Foreign Trade Policy (FTP). As a result, “Re-export of food, medicine and medical equipment to Iran will not be subject to any value addition requirement,” Directorate General of Foreign Trade (DGFT) said in a notification.

However, goods imported against freely convertible currencies and re-exported to Iran against rupee payment shall not be eligible for any export incentive, it added. (KNN Bureau)