The DGFT issued Policy Circular No. 37/2015-2020 dated September 10, 2021 w.r.t. relief in Average Export Obligation in terms of the para 5.19 of Hand Book of Procedures (“HBP”) of Foreign Trade Policy (“FTP”) 2015-20.

Para 5.19 of the HBP of the FTP 2015-20 (extended upto September 30, 2021) envisages to provide relief to exporters of those sectors where total exports in that sector/product group has declined by more than 5% as compared to the previous year. The Average Export Obligation for the year may be reduced proportionate to the reduction in exports of that particular sector/product group during the relevant year as against the preceding year.