DGFT Amends Agency Name in Para 4.41(5) of FTP 2023
The Directorate General of Foreign Trade (DGFT) has issued a key update to Para 4.41(5) of the Foreign Trade Policy (FTP) 2023 via Public Notice No. 13/2025 dated 23.05.2025. This amendment revises the name of the agency responsible for issuing authorizations under the Export Promotion Capital Goods (EPCG) scheme.
Let’s break it down for Indian exporters, consultants, and compliance officers.
What Changed in Para 4.41(5) of FTP 2023?
Old Name: Project & Equipment Corporation of India Ltd (PEC)
New Name: PEC Ltd (formerly known as Project and Equipment Corporation of India Ltd)
✅ This change is purely nomenclatural and does not affect the functional powers of the agency.
Why This Matters for EPCG Scheme Applicants
If you’re applying under the EPCG Scheme, this updated name must be reflected in all future documentation involving:
- Third-party authorizations
- Certificate endorsements
- Export obligations under Para 4.41(5)
Failing to mention the correct name may lead to delays or rejections during scrutiny by DGFT or Customs.
Legal Reference and Government Source
- 📄 DGFT Public Notice No. 13/2025
- 🔗 View Official Notice (dgft.gov.in)
- 📘 Foreign Trade Policy 2023, Chapter 4: Duty Exemption and Remission Schemes
This aligns the name as registered under the Ministry of Corporate Affairs (MCA).
What is Para 4.41(5) in FTP 2023?
Under Para 4.41 of FTP 2023, third-party exports under EPCG require prior authorization. Clause (5) allows certain government agencies like PEC Ltd to act as coordinators for capital goods procurement, especially for large infrastructure or government projects.
With the new amendment:
- Existing authorizations remain valid
- Only future documents must carry the new name: PEC Ltd
Expert View – How to Stay Compliant
Tip by Efiletax Compliance Expert:
“For businesses working under the EPCG scheme, always verify the latest DGFT notifications before filing applications. Using outdated agency names can lead to non-compliance, even if the agency is functionally the same.”
What Should You Do Now?
✅ Update your records: Replace old agency name with the new one
✅ Inform your consultant: Ensure updated templates and checklists
✅ Re-check draft EPCG applications before final submission
Quick Summary for Google Snippet
DGFT updates the agency name in Para 4.41(5) of FTP 2023 from “Project & Equipment Corporation of India Ltd” to “PEC Ltd.” This impacts EPCG scheme applications and must be reflected in all future authorizations.
FAQs
Q1. Does this amendment affect existing EPCG authorizations?
No. Existing approvals remain valid. The change applies to future documentation.
Q2. What is PEC Ltd’s role under the FTP 2023?
PEC Ltd coordinates capital goods procurement for select projects under Para 4.41(5).
Q3. Where can I access the official public notice?
Visit: DGFT Public Notices – dgft.gov.in