Outline of the system
The Foreign Trade Policy 2015-2020, was notified in the Gazette of India vide Notification No. 01/2015-2020 dated 1 April 2015 and subsequently revised and notified vide Notification No. 41/2015-2020 dated 5 December 2017. The category of imports under the current Foreign Trade Policy consists of: (i) prohibited items, import of which are normally not allowed; (ii) restricted items, imports of which are allowed against an authorisation or in accordance with a public notice which indicates the conditions under which the items can be imported; (iii) those under state trading enterprises (STE) policy, the imports of which are permitted only through the designated STEs; and (iv) those which can be freely imported.