August 13, 2010 12:06 PM

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Parliament passes Foreign Trade (Development and Regulation) Amendment Bill

Parliament has passed the Foreign Trade (Development and Regulation) Amendment Bill. The Bill seeks to impose tighter control on export of sensitive dual-use technology. It will also empower the government to impose quantitative restrictions on import surge to protect the interest of domestic industry. Winding up the debate on the Bill in Lok Sabha on Thursday, the Commerce Minister Mr Anand Sharma said that the amendment Bill will enable stricter regulation of export in technology, especially relating to dual-use items, which he said is necessary to instill a sense of confidence among the technology providers.

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