c The State Bank of Hyderabad is governed by the State Bank of Hyderabad Act 1956.
d Accepting for the purpose of lending or investment of deposits of money from the public, repayable on demand or otherwise and withdrawable by cheque, draft or order or otherwise.
e FDI, foreign institutional investors, and non‑resident Indians.
f NBFCs do not include institutions whose principal business is that of agriculture or industrial activities, and sale/purchase/construction of immovable property.
g AFCs are financial institutions. Their principal business is the financing of physical assets supporting productive/economic activity (e.g. automobiles, tractors, later machines, generator sets, earth‑moving, and material handling equipment) moving on own power and general purpose is defined as aggregate of financing real/physical assets supporting economic activity and income arising therefrom is not less than 60% of total assets and total income, respectively.
h IFCs are non‑deposit‑taking NBFCs that fulfil the following criteria: (i) at least 75% of the total assets should be deployed in infrastructure loans, as stipulated in the Non‑Banking Financial (Non‑Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2007 (Para 2(viii)); (ii) minimum net owned funds of Rs 3 billion; (iii) minimum credit rating "A" or equivalent of CRISIL, FITCH, CARE, ICRA or equivalent rating by other accrediting rating agencies; and (iv) CRAR of 15% (with minimum tier I capital of 10%).
i Venture capital fund, merchant banking companies, stock‑broking companies registered with the Securities and Exchange Board of India, insurance companies holding a valid certificate of registration issued by IRDA, Nidhi companies as notified under the Companies Act 1956 (Section 60A), chit companies as defined under the Chit Funds Act 1982 (Section 2, clause (b)) or housing finance companies regulated by the National Housing Bank.
j Of which, 8 stand‑alone PDs and 9 bank PDs.
k Of which, 7 stand‑alone PDs and 11 bank PDs.
l CIC-ND-SI is an NBFC carrying on the business of acquisition of shares and securities which satisfies the following conditions: (a) it holds not less than 90% of its total assets in the form of investment in equity shares, preference shares, debt or loans in group companies; (b) its investments in the equity shares (including instruments compulsorily convertible into equity shares within a period not exceeding 10 years from the date of issue) in group companies constitutes not less than 60% of its total assets; (c) it does not trade in its investments in shares, debt or loans in group companies except through block sale for the purpose of dilution or disinvestment; (d) it does not carry on any other financial activity referred to in Section 45I(c) and 45I(f) of the RBI act 1934 except investment in bank deposits, money market instruments, government securities, loans to and investments in debt issuances of group companies or guarantees issued on behalf of group companies; (e) its asset size is Rs 1 billion or above; and (f) it accepts public funds.
m NBFC-Factor is a non-deposit taking NBFC engaged in the principal business of factoring. The financial assets in the factoring business should constitute at least 50% of its total assets and its income derived from factoring business should not be less than 50% of its gross income.
n NBFC-MFI is a non-deposit taking NBFC having not less than 85% of its assets in the nature of qualifying assets which satisfy the following criteria: (a) loan disbursed by an NBFC-MFI to a borrower with a rural household annual income not exceeding Rs 60,000 or urban and semi-urban household income not exceeding Rs 120,000; loan amount does not exceed Rs 35,000 in the first cycle and Rs 50,000 in subsequent cycles; total indebtedness of the borrower does not exceed Rs 50,000; tenure of the loan not to be less than 24 months for loan amount in excess of Rs 15,000 with prepayment without penalty; loan to be extended without collateral; aggregate amount of loans, given for income generation, is not less than 70% of the total loans given by the MFIs; and loan is repayable on weekly, fortnightly or monthly instalments at the choice of the borrower.
o IDF-NBFC is a company registered as NBFC to facilitate the flow of long term debt into infrastructure projects. An IDF-NBFC raises resources through issue of rupee or U.S. dollar denominated bonds of minimum 5-year maturity. Only Infrastructure Finance Companies (IFC) can sponsor IDF-NBFCs.
p MGC are financial institutions for which at least 90% of the business turnover is mortgage guarantee business or at least 90% of the gross income is from mortgage guarantee business and net owned fund is Rs 1 billion.
q Non-Operative Financial Holding Company (NOFHC) is financial institution through which a promoter or promoter groups will be permitted to set up a new bank. It is a wholly-owned Non-Operative Financial Holding Company (NOFHC), which will hold the bank as well as all other financial services companies regulated by RBI or other financial sector regulators, to the extent permissible under the applicable regulatory prescriptions.
r As on June 2011.
s As on November 2014.
Source: WTO Secretariat, based on information provided by the Indian authorities.
Table A4. 3 Telecom licensing regimes, 2014
Unified access service (UAS) for fixed and mobile telephony
Financial bank guarantee (Rs 20‑440 million) and performance bank guarantee (Rs 100‑200 million)
Minimum 10% District Head Quarter/Towns coverage during the first year and 50% within three years in urban areasa; and up to 30% Block head Quarters in 5 year
Financial bank guarantee (Rs 50 million); and minimum net worth and paid‑up equity capital (Rs 25 million)
Interconnection to international long‑distance service providers
Application processing fee (Rs 50,000), one-time entry fee (Rs 25 million), and annual fee (8% of the adjusted gross revenue)
Financial bank guarantee (Rs 50 million); and minimum net worth and paid‑up equity capital (Rs 25 million)
Interconnection to national long‑distance service provider
Application processing fee (Rs 50,000), one-time entry fee (Rs 25 million), and annual fee (8% of adjusted gross revenue)
Internet service providersc
Financial bank guarantee (Rs 1 million) and performance bank guarantee (Rs 20 million)
Application processing fee (Rs 50,000), one‑time entry fee (Rs 3 million), and annual fee (8% of adjusted gross revenue
Financial bank guarantee (Rs 100,000) and performance bank guarantee (Rs 1 million)
Application processing fee (Rs 15,000), one‑time entry feec (Rs 2 million), and annual fee (8% of adjusted gross revenue
Financial bank guarantee (Rs 10,000) and performance bank guarantee (Rs 50,000)
Application processing fee (Rs 10,000), one‑time entry feec (Rs 20,000), and annual fee (8% of adjusted gross revenue
Application processing fee (Rs 5,000)
n.a. Not applicable.
a No coverage requirement in rural areas.
b Since 1 October 2008, operators providing fixed telecom services in rural areas are exempt from the annual fee.
c Internet service providers with net worth of Rs 1 billion are allowed to provide internet protocol television service (at present, two providers).
d Lease/rent out/sell dark fibre, right of way, duct space, and tower to telecom service providers.
e Lease/rent out/sell end‑to‑end bandwidth, i.e. digital transmission capacity capable of carrying a message, to telecom service providers.
Note: The financial bank guarantee ensures the payment of charges/fees by the Government, e.g. spectrum charges and licensing fees. The performance bank guarantee ensures that providers meet their roll‑out obligations. The validity of all licences above are 20 years, renewable for 10 years.
Source: Department of Telecommunications online information. Viewed at: http://www.dot.gov.in/sites/default/files/amended%20%20UL%20guidelines.pdf, and information provided by the Indian authorities.
Convention on the International Maritime Organization (IMO Convention) 1948
International Convention for the Safety of Life at Sea (SOLAS Convention) 1974
International Convention of Load line (Load Lines Convention) 1966
International Convention on Tonnage Measurement of ships (Tonnage Convention) 1969
Convention of the International Regulations for Preventing Collisions at Sea (COLREG Convention) 1972
International Convention for Safe containers (CSC Convention) 1972
International Convention on Standards of Training Certification and Watch-keeping for seafarers (STCW Convention) 1978
International Convention on Maritime Search and Rescue (SAR Convention) 1979
Convention on the International Maritime Satellite Organization (IMSO Convention) 1976
Convention on Facilitation of International Maritime Traffic (Facilitation convention) 1965
International Convention Relating to Intervention on the High Seas in Cases of Oil Pollution Casualties (Intervention Convention) 1969
Convention on limitation of liability for Maritime Claims (LLMC Convention) 1976
Convention for suppression of Unlawful Acts against the Safety of Maritime Navigation (SUA Convention) 1988
International Convention on Salvage (Salvage Convention) 1989
International Convention on Oil Pollution Preparedness response and cooperation (OPRC Convention) 1990
Nairobi International Convention on the Removal of Wrecks (Nairobi Convention) 2007
International Convention for the Prevention of Pollution From Ships (MARPOL) 1973, 1978
Protocol to the International Convention on Civil Liability for Oil Pollution Damage (CLC Convention) 1969 (now denounced)
International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage (Fund Convention) 1971
Protocols ratified by India
Name of the Protocol
Protocol of 1978 relating to the International Convention for Safety of Life at Sea of 1 November 1974 (SOLAS Protocol) 1978
Protocol of 1988 relating to the International Convention for Safety of Life at Sea (SOLAS Protocol) 1988
Protocol of 1988 Relating to the International Convention of Load Lines 1966 (Load Lines Protocol 1988)
Protocol on Space Requirements for Special Trade Passenger Ships (STP Protocol) 1973
MARPOL Protocol 1997 (Annex VI)
CLC Protocol 1976
CLC Protocol 1992
Fund Protocol 1976
Fund Protocol 1992
LLMC Protocol 1996
SUA Protocol 1988
Agreement ratified by India
Name of agreement
Special Trade Passenger Ships Agreement (STP) 1971
Operating agreement ratified by India
Name of operating agreement
Operating Agreement on the International Mobile Satellite Organization (IMMARSAT) 1976 (as amended)
Source: WTO Secretariat, based on information provided by the Indian authorities.
Table A4. 5 Air service agreements concluded by India, 2014
Name of trading partner
Date of signing of agreements
26 January 1952
26 June 2000
5 December 2000
6 March 2006
26 October 1989
16 April 2012
5 April 2000
5 May 1978
1 July 2010
28 September 1997
6 April 1967
22 December 2009
Bosnia and Herzegovina
21 May 2010
8 March 2011
6 November 1995
16 June 1992
9 April 2002
20 July 1982
21 April 2008
22 December 1988
12 September 2000
18 December 2000
16 October 1997
19 December 1995
19 May 2003
9 April 1997
3 August 1967
28 January 1974
18 July 1995
16 July 1947
4 November 1997
31 May 1963
25 January 1978
Hong Kong, China
10 October 1996
23 February 1966
14 January 2010
25 January 2011
9 July 2010
27 July 1955
20 February 1991
4 April 1994
16 July 1959
26 November 1955
16 October 1989
10 September 1993
30 September 2009
4 January 1989
8 September 1993
20 October 1997
19 September 1964
16 September 1992
20 February 2001
8 January 2001
11 February 1998
6 October 2010
22 May 1974
24 December 2008
5 October 1998
28 January 1972
30 November 1998
17 April 2008
11 December 1996
28 May 2012
16 February 2010
24 May 1951
26 August 1997
31 January 1978
19 December 1995
31 May 1995
16 July 1976
20 October 1949
25 January 1977
6 February 1997
14 April 2005
1 July 2010
Republic of Korea
16 March 1992
21 December 1998
4 December 1993
26 April 1973
2 July 2010
30 October 1978
23 January 1968
9 October 1996
16 February 2004
4 June 2010
10 April 1987
21 December 1948
19 December 1995
2 May 2001
10 May 2001
29 September 1982
19 December 1969
Trinidad and Tobago
6 January 2012
8 February 2007
10 April 1986
14 September 1993
United Arab Emirates
7 January 2014
8 September 2005
5 October 1997
7 July 1995
14 April 2005
24 May 1993
20 July 1999
31 January 2001
15 November 1993
19 June 2014
.. Not available.
Source: WTO Secretariat, based on information provided by the Indian authorities.
1 India's fiscal year runs from April to March.
2 Main changes in the new series of national accounts included: (i) change of the base year from 2004‑05 to 2011-12; (ii) measuring economic growth in terms of GDP at constant market prices, instead of GDP at factor cost; and (ii) improving the coverage of information, inter alia, on corporate entities in manufacturing and services sectors.
3 The authorities have indicated that this is due to the relatively large segment of non-organized (not formally employed) workers, and that only figures for organized employment are available. In the absence of annual statistics on employment, the authorities make use of indicators including: quick quarterly survey on employment – unemployment by the Labour Bureau, which has been conducted in selected sectors; Industrial Outlook Survey of the RBI, which has been conducted on a quarterly basis since 1998, and gives performance indicators concerning employment in public and private limited companies engaged in manufacturing. Other employment-related indicators include: monthly Naukri Job Index (NJI); Monster Employment Index (MEI); and HSBC Purchasing Managers Index (PMI).
4 Data provided by the Indian authorities.
5 Budget Speech 2014-15.
6 The Cabinet Committee on Investment (CCI) was established in 2012; in 2013, it approved previously‑stalled projects amounting to about 5% of GDP (IMF, 2014).
7 According to some studies, substantial leakages in food subsidies, including widespread diversion to the black market, have been estimated (OECD, 2014). The Government announced the establishment of the Expenditure Management Commission in Budget 2014-15 with a view to reviewing expenditure and suggesting reforms.
8 The Government aims to raise the share of manufacturing in GDP to 25%.
9 The Government is considering revisions to the current Land Acquisition Act in order to avoid delay in the implementation of infrastructure projects.
14 The authorities estimate that the ratio will decline to 46.1% in 2015-16.
15 Ministry of Finance (2014).
16 IMF (2014).
17 The Direct Benefit Transfer (DBT) scheme was introduced in 2013, supported by the Aadhaar numbers and Aadhaar-linked bank accounts (OECD 2014). Aadhaar numbers have been granted to 757 million citizens as at January 2015.
18 Ministry of Finance (2014).
19 Budget Speech 2014-15 and Ministry of Finance (2014).
20 Ministry of Finance (2014).
21 The Government's continued intention is to introduce a GST and to consolidate the Income Tax Act 1961 and the Wealth Tax Act 1957 in a Direct Tax Code.
22 Ministry of Finance online information. Viewed at: http://finmin.nic.in/reports/MPFAgreement28022015.pdf.
23 Since 3 May 2011, the RBI has been using the repo rate (RBI's lending rate to commercial banks) as the only independently varying policy rate. The RBI implements monetary policy through the use of several direct and indirect instruments. The main direct instruments used to conduct monetary policy include the cash reserve ratio (CRR), the statutory liquidity ratio (SLR), and refinance facilities. The RBI uses the liquidity adjustment facility (LAF), as its main indirect instrument which enables it to adjust short term liquidity through repo and reverse repo auctions. The RBI also makes use of open market operations.
24 The export credit refinance was reduced in phases. It was 50% of eligible export credit outstanding as at 2 June 2014.
25 IMF (2014).
26 Reserve Bank of India online information. Viewed at: http://rbi.org.in/Scripts/PublicationReportDetails.aspx?ID=743.
27 The RBI had traditionally been using the WPI as the key inflation measure.
28 RBI, Second Bi-Monthly Monetary Policy Statement 2014-15.
29 The investment limit in government securities by registered foreign portfolio investors (FPIs) is capped at US$30 billion, of which US$5 billion is reserved for long-term investors.
30 OECD (2014).
1 The Union Territories are administered by the central Government.
2 There is also a Vice President who is elected for five years by an electoral college of both houses of Parliament and the state assemblies; the Vice President is the ex officio Chairman of the Upper House of Parliament (Rajya Sabha or Council of States).
3 Under Article 75:5 "A Minister who for any period of six consecutive months is not a member of either House of Parliament shall at the expiration of that period cease to be a Minister".
4 The First List (Union List) includes issues related to defence, arms and firearms and atomic energy, foreign affairs and the United Nations, international treaties, railways, highways, maritime shipping and navigation, and also international trade, banking and insurance, taxes on income other than agricultural income, customs and excise duties, corporate tax; the Second list (State List) gives power to the States for issues such as agriculture, fisheries, mining and mineral development, trade and commerce within the State, taxes on agricultural income, certain excise duties such as on alcoholic products and narcotics, taxes on consumption and sale of electricity. The Third List (Concurrent List) contains items including forests, commercial and industrial monopolies, education, legal, medical and other professions, and commerce in products such as foodstuffs, cotton, and jute, and price controls.
5 The Constitution (Article 110) defines money bills as bills containing provisions dealing with all or any of: imposition, abolition, remission, alteration or regulation of any tax; regulation of the borrowing of money or the giving of any guarantee by the Government of India or the amendment of laws with respect to any financial obligations undertaken or to be undertaken by the Government of India; custody of the Consolidated Fund or the Contingency Fund of India, the payment of moneys into or the withdrawal of moneys from any such Fund; the appropriation of any moneys out of the Consolidated Fund of India; declaring of any expenditure to be expenditure charged on the Consolidated Fund of India or increasing the amount of any such expenditure; the receipt of money on account of the Consolidated Fund of India or the public account of India, or the increasing of the amount of any such expenditure; or any matter incidental to these provisions.
6 Department of Commerce (2014).
7 Department of Commerce (2015).
8 Department of Commerce, Notification No. 22 (RE-2013)/2009-2014 dated 18 June 2013.
9 Department of Commerce, Notification No. 3 (RE-2013)/2009-2014 dated 29 June 2012.
10 Department of Commerce, Notification No. 35 (RE-2013)/2009-2014 dated 14 August 2013.
11 Department of Commerce, Notification No 41 (RE-2013)/2009-2014 dated 19 September 2013.
12 Department of Commerce, Notification No. 22 (RE-2013)/2009-2014 dated 1 November 2013.
13 Department of Commerce, Notification No. 57 (RE-2013)/2009-2014 dated 16 December 2013.
14 Department of Commerce, Notification No. 59 (RE-2013)/2009-2014 dated 19 December 2013.
15 Department of Commerce, Notification No. 61 (RE-2013)/2009-2014 dated 26 December 2013.
16 Department of Commerce, Notification No. 72 (RE-2013)/2009-2014 dated 4 March 2014.
17 Department of Commerce, Notification No. 86 (RE-2013)/2009-2014 dated 2 July 2014.
18 Department of Commerce, Notification No. 91 (RE-2013)/2009-2014 dated 21 August 2014.
19 Department of Food and Public Distribution (2013).
20 See Press Release at: http://commerce.gov.in/pressrelease/pressrelease_detail.asp?id=3116.
21 According to a speech by the Secretary of Commerce to a meeting of the Confederation of Indian Industries, "of Japan's total trade with India, only 22% could be attributed to the FTA, Malaysia 3.47%, ASEAN 17%, and Rep. of Korea 25%". Financial Express, 27 October 2014. Viewed at: http://indianexpress.com/article/business/economy/commerce-industry-secys-speak-in-different-tones-on-fta-impact/.
22 See WTO documents G/C/W/651 and WT/COMTD/N/38, 12 September 2011.
23 According to the scheme, in order to benefit from preferences individual LDCs were required to submit to the Government of India a letter of intent and details of officials who would be responsible for issuing certificates of origin as prescribed by the scheme.
24 Customs Notification No. 8/2014 dated 1 April 2014.
25 International Finance Corporation and the World Bank (2014).
26 Viewed at: http://dipp.nic.in/English/Ebiz/Integrated_MMP-eBiz.pdf. The e-Biz portal is available at: https://www.ebiz.gov.in/home/.
27 Department of Industrial Policy and Promotion (2014a).
28 Department of Industrial Policy and Promotion (undated).
29 Department of Industrial Policy and Promotion Notification No. S.O. 2113 (E) on 22 August 2014.
30 Department of Industrial Policy and Promotion (2014b).
31 To date 17 NIMZs have been given approval in principle.
32 The industries include petrochemical complexes and petroleum refineries, cement, thermal power plants, bulk drugs, fertilizers, dyes and paper.
33 Ministry of Micro, Small and Medium Enterprises online information. Viewed at: http://msme.gov.in/Web/Portal/New-Default.aspx.
34 The products at the 6 and 8 digit classification include pickles and chutneys, bread, edible oils, wooden furniture and fixtures, exercise books and registers, some chemical and chemical products, glass bangles and some metal products. The full list is available in Annex V of the Annual Report of the Ministry of Micro, Small and Medium Enterprises 2012-13. Viewed at: http://msme.gov.in/WriteReadData/DocumentFile/ANNUALREPORT-MSME-2012-13P.pdf.
35 Multi-brand retailing is also subject to State Government approval and a few States have decided not to go ahead with FDI in this sector.
36 Make in India online: New Initiatives information. Viewed at http://www.makeinindia.com/policy/new-initiatives/.
37 Ministry of Finance online information, Bilateral Investment Promotion and Protection Agreements (BIPA). Viewed at: http://finmin.nic.in/bipa_index.asp?pageid=1.
38 Viewed at: http://dipp.nic.in/English/Investor/make_in_india/Main_Brochure.pdf highlights some of the facilities and incentives available for investors in the targeted sectors.
1 Central Board of Excise & Customs, "Customs Manual on Self-assessment 2011". Viewed at: http://www.cbec.gov.in/deptt_offcr/cs-self-assesmt2011-manual.pdf.
2 DGFT online information. Viewed at: http://dgft.gov.in/exim/2000/IECONLINEHelp.pdf and http://dgft.gov.in/exim/2000/download/Appe&ANF/ANF2A.pdf.
3 See WTO (2011) for the details of customs procedures for import into warehousing, transhipment, transit, re-importation, and imports for special economic zones (SEZs).
4 Information provided by the authorities.
5 In 2011, RMS was available at 60 customs offices covering 99.6% of the total imports. WTO document WT/TPR/M/249/Add.1, 14 October 2011.
6 WTO document WT/TPR/M/249/Add.1, 14 October 2011.
7 WTO (2011).
8 Transport cost includes the ship demurrage charges on charted vessels and barge charges.
9 The landing charges are applied at the same rate regardless of the mode of transport. WTO document WT/TPR/M/249/Add.1, 14 October 2011.
10 Customs (non-tariff) Notification No. 3/2012, 16 January 2012.
11 Customs (non-tariff) Notification No. 67/2013, 25 June 2013.
12 Rule 3(2) of the Customs Valuation Rules 2007.
13 See WTO (2011), Chapter III(2)(ii) for details.
14 WTO document WT/L/38, 15 February 1995.
15 WTO document G/VAL/W/233, 16 September 2013.
16 WTO document G/VAL/W/173, 29 October 2008.
17 The tariff, as provided by the authorities, is effective as on 1 September 2014. It does not include any changes made through notifications since then.
18 Ministry of Finance (2015).
19 According to the Tariff Commission, the latest studies include textiles machinery, plastic machinery, shipbuilding, PVC, rubber products, tubes and tyres etc. (Tariff Commission, viewed at: http://tc.nic.in/sectorwise%20list%20upto%202013-14(25th%20april).pdf on 16 January 2015).
20 Ministry of Finance (2015).
21 WTO document G/MA/307, 1 December 2014.
22 Customs notification No. 102/2007, 14 September 2007.
23 India's Schedule of Tariff Concessions—Schedule XII (WTO document WT/LET/440, 4 April 2003).
24 WTO document G/AG/N/IND/4, 7 March 2011.
25 Notification 128/2010 – Customs, on 22 December 2010. The alternate rate (out of quota) was raised from the lower of 20% or Rs 20 to the lower of 20% or Rs 30 in 2013 under Notification 51/2013 – Customs, dated 20 December 2013.
27 Department of Commerce, Notification No. 87 (RE-2013)/2009-2014, 3 July 2014.
28 Department of Commerce (2012), Foreign Trade Policy with effect from 5 June 2012.
29 DFGT Notification No. 84 (RE-2013)/2009-2014, 23 June 2014.
30 The licensing authority may refer the application to the EXIM Facilitation Committee, which consists of technical authorities, for assistance to approve a licence.
31 Department of Commerce (2012).
32 See Box III.1, WTO (2011), for details.
33 As a general rule, fees are Rs 2 per shipment of a c.i.f. value of Rs 1,000, subject to a minimum fee of Rs 200 and a maximum of Rs 150,000; for electronically-filed applications, the fee was Rs 1 per shipment for a c.i.f. value of Rs 1,000 with a minimum of Rs 100 and maximum of Rs 75,000. Appendix 21 B to the Import Policy. Viewed at: http://dgft.gov.in/exim/2000/download/Appe&ANF/21B.pdf.
34 Reserve Bank of India online information. Viewed at: http://rbi.org.in/scripts/NotificationUser.aspx?Id=9370&Mode=0.
35 DGFT Notification No. 53 (RE-2013)/2009-2014.
36 DGFT Notification No. 99 (RE-2013)/2009-2014, 20 November 2014.
37 At the end of March 2012, there were 415 sensitive items (based on HS eight-digit classifications). These included milk and milk products, fruits and vegetables, pulses, poultry, tea and coffee, spices, food grains, edible oils, cotton and silk, marble and granite, automobiles, parts and accessories of motor vehicles, products produced by small-scale industries, and other products (bamboos, cocoa, copra, and sugar).
38 DGFT Notifications No. 99(RE-2013)/2009-2014, 20 November 2014. Imports of marble (classified under HS 25 and 68) from Bhutan are subject to a quota of 5,882 tonnes per financial year. Monitoring and allocation of the quota is done by the Government of Bhutan. (Schedule I: Import Policy, Foreign Trade Policy 2009-2014, incorporating Annual supplement, 5 June 2012. Viewed at: http://dgft.gov.in/).
39 WTO document G/SG/N/1/IND/3, 23 September 2011.
40 Imports of second-hand cars over three-years old are prohibited.
41 The details are specified in Schedule 1 of Import Policy 2012. Viewed at: http://dgftcom.nic.in//licasp/itchs2012/87foot.pdf.
42 Under the Foreign Trade Policy, all STEs granted special privileges to import (export) must make such purchases (sales) in accordance with commercial considerations including price, quality, availability, marketability, and transportation. STE must act in a non-discriminatory manner (WTO document WT/TPR/M/249/Add.1, 14 October 2011).
43 DGFT Notification No. 93 (RE-2013)/2009-2014.
44 WTO document G/STR/N/14/IND, 30 November 2012.
45 State trading of imports has the stated purpose of ensuring, inter alia: a "fair" return to farmers as well as food security; the supply of fertilizer to farmers; and that the domestic support price system for kerosene and LPG are properly implemented through the importation by a single operator. The Government procures food-grains and certain select agricultural items from farmers at a remunerative minimum support price with a view to ensuring India's small and marginal farmers a fair return on their investment. The procured food-grains and agricultural items are then supplied through the public distribution system at variable prices, some of it at market prices and some at subsidized rates for those living below the poverty line. The STEs domestically procure and import, depending on the market supply situation and the demand. Such operations by the STEs are deemed to enable effective monitoring of the supply situation which, in turn, can ensure that concerns relating to food security are appropriately addressed. In the case of petroleum products, imports/exports are undertaken at market determined prices. Regarding domestic pricing, a system of domestic support for kerosene and LPG (used as domestic fuel), is in place. In the context of fertilizers, state trading is intended to properly implement and manage supplies to the farmers.
46 WTO documents G/ADP/N/1/IND/1, 15 August 1995; G/ADP/N/1/IND/2/Corr.1, 9 January 1996; and G/ADP/N/1/IND/2/Suppl.1, 23 December 1996.
47 Customs Notification (non-tariff) No. 86/2011, 1 December 2011.
48 WTO document G/ADP/N/1/IND/3, 19 October 2011.
49 WTO document G/ADP/N/1/IND/4, 1 March 2012.
50 Customs Notification (non-tariff) No. 15/2011, 1 March 2011.
51 Customs Notification (non-tariff) No. 6/2012, 19 January 2012.
52 Customs Notification (non-tariff), No. 5/2012, 19 January 2012.
53 Rule 14 of the Customs Tariff (Identification, Assessment and Collection of Antidumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995 contains provisions regarding termination of anti-dumping investigations. Department of Commerce online information. Viewed at: http://commerce.nic.in/traderemedies/compendium/comp2.pdf.
54 Department of Commerce, Trade Notice No. 1/2010, 17 May 2010.
55 WTO (2011), Chapter III(2)(viii).
56 WTO document G/SCM/N/274/IND, 10 September 2014.
57 The Finance (No. 2) Bill, 2014. Viewed at: http://indiabudget.nic.in/ub2014-15/fb/bill1.pdf. The amendment was made with a view, inter alia, to clarifying that safeguard duties generally do not apply to articles imported by a 100% EOU or a unit in a special economic zone; however, if goods imported are either brought into the domestic tariff area or used in the manufacture of goods brought into the domestic tariff, safeguard duties apply.
58 The Director General is also responsible for carrying out recommendations under the Indo-Singapore Trade Agreement (Safeguard Measures) Rules 2009.
59 WTO document G/SG/N/1/IND/3/Suppl.1, 25 September 2012.
60 WTO document G/SG/N/1/IND/3, 23 September 2011.
61 WTO document G/SG/Q1/IND/12, 24 April 2013.
62 WTO (2011).
63 These are: production and general engineering; civil engineering; chemicals; electro-technical; food and agriculture; electronics and information technology; mechanical engineering; management and systems; metallurgical engineering; petroleum, coal and related products; transport engineering; textile; water resources; and medical equipment and hospital planning.
64 WTO documents G/TBT/N/IND/32/Add.2, Add.3 and G/TBT/N/IND/42-46.
65 WTO documents G/TBT/M/ series since 20 September 2011.
66 Implemented since May 2011.
67 Electronics and Information Technology Goods (Requirements for Compulsory Registration) Order, 2012, S.O. 2357 (E). Viewed at: http://deity.gov.in/content/gazattes.
68 BIS Act, Section 14.
69 This system is different from a new set of rules stipulating a compulsory registration scheme, mentioned in the previous paragraph. Compulsory registration scheme is for 30 electronic and information technology goods whereas the mandatory BIS certification is for 92 various other products. For items subject to mandatory certification, see BIS online information. Viewed at: http://www.bis.org.in/. The criteria for determining which products should carry the mandatory certification is based on an internal assessment of the central Government (WTO document WT/TPR/M/249/Add.1, 14 October 2011).
70 Information provided by the authorities.
71 Procedures for Grant and Operation of BIS Licence under Foreign Manufacturers Certification Scheme (FMCS). BIS online information. Viewed at: http://www.bis.org.in/cert/fm.htm.
72 BIS online information. Viewed at: http://www.bis.org.in/cert/saarcfee.pdf.
73 Except for two of the branch laboratories, all laboratories are accredited by NABL.
74 National Accreditation Board for Testing and Calibration Laboratories online information, "Introduction". Viewed at: http://www.nabl-india.org/nabl/html/about-intro.asp.
75 Information provided by the authorities.
76 For more information, see National Accreditation Board for Testing and Calibration Laboratories online information, "Laboratory Accreditation". Viewed at: http://www.nabl-india.org/nabl/html/about-lab-acc.asp.
77 See WTO (2011), Chapter III(2)(ix) for details.
78 FSSAI Notifications Nos. 4/15015/30/2011, 7 June 2013; 5/15015/30/2012, 12 July 2013; and P.15014/1/2011, 27 June 2013.
79 WTO documents G/SPS/R/ series since 8 May 2013.
80 WTO documents G/SPS/N/IND/71-93.
81 With a view to disseminating information on plant quarantine regulations, procedures and practices, a website (http//www.plantquarantineindia.nic.in) has been set up. All plant quarantine stations dealing with phytosanitary issues, have been linked through the website and relevant PQIS (Plant Quarantine Information System software) has been developed.
82 Guidelines for Inspection (ISPM23)2005, and Methodologies for Sampling of Consignments (ISPM31)2009, International Plant Protection Convention. Viewed at: https://www.ippc.net/en/core-activities/standards/ispms/#588.
83 There are 357 registered fumigation agencies for methyl bromide fumigation and 157 for aluminium phosphide fumigation.
84 Fumigation generally takes 24 hours with methyl bromide, and 7 to 10 days with aluminium phosphide.
85 Central Board of Excise & Customs (2011). Relevant changes have been made to Sections 17 and 50 of the Customs Act 1962. Shipping Bill (Regulations) 2011 concerning the introduction of self-assessment in Customs were issued.
86 In addition to the IEC, exporters also need to obtain a business identification number from the DGFT to be allowed to file the shipping bill. The shipping bill may be processed manually or through the electronic data interchange (EDI) system (WTO, 2011, Chapter III(3)(i)).
87 Information provided by the authorities.
88 The Act empowers the central Government to notify the commodities and specify the minimum standards related to exports of these commodities.
89 Customs (tariff) Notifications No. 27/2011, 1 March 2011; No. 117/2011, 29 December 2011; No. 129/2011, 30 December 2011; No. 10/2012, 17 March 2012; No. 15/2016, 1 March 2013; No. 3/2014, 27 January 2014; No.15/2014, 11 July 2014.
90 Central Board of Excise and Customs online information. Viewed at: http://www.cbec.gov.in/customs/cst2013-14/sch2-exptariff.pdf.
91 The latest notification concerning the minimum export prices of onions was issued on 21 August 2014 (DGFT Notification No. 91 (RE-2013)/2009-2014. The MEP of onions was removed between 4 March 2014 and 16 June 2014 (DGFT notifications No. 73, 12 March 2014 and No. 82, 17 June 2014).
92 DGFT Notification No. 6 (RE-2012)/2009-2014, 4 July 2012.
93 MEP at US$1,100 per tonne.
94 DGFT Notification No. 85 (RE-2013)/2009-2014.
95 DGFT Notification No. 112 (RE-2013)/2009-2014.
96 Department of Commerce (2010).
97 DGFT Notification No. 60 (RE-2013)/2009-2014.
98 DGFT Notifications Nos. 102 and 103, 8 December 2014.
99 DGFT Notifications Nos. 87 (RE-2010)/2009-2014, 104 (RE-2010)2009-2014, and 81 (RE‑2013)/2009-2014, 5 December 2011, 5 March 2012, and 13 June 2014.
100 DGFT Notification No. 62 (RE-2013)/2009-2014.
101 DGFT Notification No. 88 (RE-2013)/2009-2014, 4 July 2014.
102 WTO document G/STR/N/14/IND, 30 November 2012.
103 DGFT Notification No. 92 (RE-2013)/2009-2014, 26 September 2014.
104 WTO document G/AG/N/IND/9, 30 July 2012.
105 WTO document G/SCM/N/253/IND/Suppl.1, 21 November 2014.
106 WTO document G/SCM/N/220/IND/Suppl.1, 14 November 2014.
107 The World Bank data series formerly identified as GNP is now published as GNI. This change reflects the implementation of the System of National Accounts 1993 ("SNA 93"). Although the underlying concepts are different (GNP being a measure of product, and GNI being a measure of income), the values calculated are the same.
108 WTO document G/SCM/110/Add.11, 23 June 2014.
109 The States that have enacted SEZ Acts are Gujarat, Himachal Pradesh, Tamil Nadu, Uttar Pradesh, Haryana, and Punjab.
110 DTA means an area within India that is outside SEZs, EOUs, electronic hardware technology parks, software technology parks, and bio-technology parks.
111 Self-certification refers to certification regarding the sealing of containers or packages of goods for export. The certificate stipulates that the containers or packages have been sealed in the presence of a person authorized on behalf of the unit (SEZ Rules 2006, as amended, Chapter IV).
112 SEZ Rules 2006, as amended, Chapter IV.
113 Information provided by the authorities.
114 If the unit has not generated net foreign exchange earning, the Development Commissioner is required to inform the Central Excise authorities for recovery of the proportionate duty.
115 FDI is prohibited in the manufacture of arms and ammunition, explosives, atomic substances, narcotics and hazardous chemicals, distillation and brewing of alcoholic drinks, and cigarettes, cigars, and manufactured tobacco substitutes.
116 Export Promotion Council for EOUs and SEZs online information, "How to set-up an Export Oriented Unit". Viewed at: http://www.eouindia.gov.in/eou_settingup.htm.
119 Information provided by the Indian authorities.
120 Further restrictions apply in accordance with Rules 3 and 8 of the Customs, Central Excise Duties and Service Tax Drawback Rules 1995.
121 WTO document WT/TPR/M/249/Add.1, 14 October 2011.
122 Department of Commerce online information. Viewed at: http://commerce.nic.in/trade/mda-guidelines01-06-2013.pdf.
123 Department of Commerce online information. Viewed at: http://commerce.nic.in/trade/Revised_MAI_Guidelines_W_E_F_04_08_2014.pdf.
124 EPCs promote, for example, exports of textiles; pharmaceuticals, chemicals, and cosmetics; leather; gems and jewellery; engineering goods and civil construction projects; plastics; cashews; shellac; and sports goods. Department of Commerce online information. Viewed at: http://commerce.nic.in/epc.htm
125 Loan policies should lay down, inter alia: exposure limits to individual/group borrowers, documentation standards, margin, security, sectoral exposure limits, delegation of powers, maturity and pricing policies, and factors taken into consideration for deciding interest rates.
127 Details of revenue forgone for, for example, 2012-13 and 2013-14, are made available at the Government of India online information. Viewed at: http://indiabudget.nic.in/ub2014-15/statrevfor/annex12.pdf.
128 WTO document G/SCM/N/253/IND/Suppl.1, 21 November 2014.
129 WTO document G/SCM/Q2/IND/40, 27 October 2014.
130 These include WTO documents G/SCM/Q2/IND/20, 35, and 40, 10 October 2011, 31 July 2014, and 27 October 2014.
132 The general categories of priority sectors are: agriculture, micro- and small enterprises, education, housing, and export credit (Reserve Bank of India, Master Circular No. RBI/2014-15/95, 1 July 2014).
133 Reserve Bank of India (2014b).
134 Department of Industrial Policy and Promotion (2009a); and Development Commissioner online information, "List of items reserved for exclusive manufacture in micro and small enterprises". Viewed at: http://www.dcmsme.gov.in/publications/reserveditems/resvex.htm.
135 They are: pickles and chutneys, bread, mustard oil (except solvent extracted), groundnut oil (except solvent extracted), wooden furniture and fixtures, exercise books and registers, wax candles, laundry soap, safety matches, fireworks, and agarbatties, glass bangles, steel almirah, rolling shutters, steel chairs (all types), steel tables (all other types), steel furniture (all other types), padlocks, stainless steel utensils, and domestic utensils (aluminium). Ministry of Micro, Small and Medium Enterprises online information. Viewed at: http://www.dcmsme.gov.in/publications/reserveditems/reserved2010.pdf.
136 Development Commissioner online information, "SSI Registration". Viewed at: http://www.dcmsme.gov.in/howtosetup/grgxx01x.htm.
137 Information provided by the authorities.
138 Development Commissioner online information, "Excise and SSI". Viewed at: http://dcmsme.gov.in/policies/central/t-ed.htm.
139 See WTO (2011), Chapter III(4)(iii) for details.
140 See WTO (2011), Chapter III(4)(iii) for details.
141 The thresholds are: (i) for an individual in India, Rs 15 billion (assets) and Rs 45 billion (turnover); (ii) for a group in India, Rs 60 billion (assets) and Rs 180 billion (turnover); (iii) for individual parties in India and outside, US$750 million in which minimum Indian component is Rs 7.5 billion (assets) and US$2.25 billion in which minimum Indian component is Rs 22.5 billion (turnover); and (iv) for a group in India and outside, US$3 billion in which minimum Indian component is Rs 7.5 billion (assets) and US$9 billion in which minimum Indian component is Rs 22.5 billion (turnover).
142 The CCI (Procedure in Regard to the Transaction of Business Relating to Combinations) Regulations 2011, and the CCI (Manner of Recovery of Monetary Penalty) Regulations 2011. Viewed at: http://www.cci.gov.in/index.php?option=com_content&task=view&id=62.
143 The main changes stipulated in the February 2012 amendment included inter alia that filing of notice is not generally required in the event of: (i) acquisitions that are less than 25% of the shares or voting rights of a company on a cumulative basis; (ii) intra-group mergers or amalgamations involving enterprises wholly-owned by the group companies; (iii) acquisitions of shares or voting rights pursuant to buy-backs or subscription of rights issues not leading to acquisition of control. The April 2013 amendment involved inter alia: (i) allowing a "creeping" of acquisitions up to 5% per financial year, where the acquirer already holds 25% or more but does not hold 50% or more of the shares or voting rights of the enterprise, under certain conditions; (ii) eliminating notification requirements for combinations involving subsidiaries of a group under certain conditions. Further, in the March 2014 amendment,