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India lifts safeguard measures on isopropyl alcohol imports
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Shardul Nautiyal, Mumbai
April 24 , 2024
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The Directorate General of Foreign Trade (DGFT) has officially announced the discontinuation of safeguard measures on the import of isopropyl alcohol (IPA).
The decision, communicated through Trade Notice dated April 18, 2024, marks the culmination of a period during which country-wise quantitative restrictions (QR) were imposed on the import of IPA, as per DGFT Notification No. 64/2015-20 dated March 31, 2023, and Public Notice No. 04/2015-20 dated April 11, 2023. These measures were originally implemented for a one-year period from April 1, 2023, to March 31, 2024.
Following inquiries from various stakeholders, including the trade and industry community, regarding the official termination of these safeguard measures, the government has clarified its stance. According to the notification, country-wise QR measures on the import of IPA under HS code 29051220 have been discontinued effective April 1, 2024.
This move signifies that the import of IPA is now "Free" without any policy conditions, providing a significant boost to businesses involved in the import and distribution of isopropyl alcohol. IPA is a key ingredient in various industries, including pharmaceuticals, cosmetics, and sanitization products, and the removal of restrictions is expected to streamline trade operations and support industry growth.
The decision to lift safeguard measures on IPA imports reflects the government's commitment to promoting a conducive environment for trade and commerce while ensuring the availability of essential raw materials for various sectors. It also underscores India's commitment to aligning its trade policies with global standards and fostering a competitive business environment.
For any further queries or clarifications, stakeholders have been urged to reach out to the DGFT.
This announcement is anticipated to have a positive impact on the import and manufacturing landscape in India, facilitating smoother trade operations and contributing to economic growth and development in the country. The lifting of safeguard measures on IPA imports signifies a progressive step towards enhancing trade facilitation and promoting a conducive business environment in India.
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