A Bill seeking to restrict export of dual-use items meant for both civilian sector and critical sectors like defence, aerospace and nuclear energy was introduced in the Rajya Sabha today.
Commerce Minister Anand Sharma introduced the Foreign Trade (Development and Regulation) Amendment Bill, 2009 while an earlier amended Bill, introduced in 2001, was withdrawn.
The new Bill seeks to enable the government to impose quantitative restrictions and stricter regulation of export in technology, especially relating to dual use items.
The amendments in the Foreign Trade (Development and Regulation) Act would also make the law in conformity with the provisions of the Weapons of Mass Destruction and their Delivery System (Prohibition of Unlawful Activities) Act, 2005.
The provision of notifying all restrictions on imports and exports through the Foreign Trade Policy would ensure that all such information is available at one place.
The government said the amendments would also ensure that trade in sensitive technologies is regulated.
Source : Business Standard