Duty-Free Tariff Preference (DFTP) Scheme:
The World Trade Organization credits India’s Duty-Free Tariff Preference (DFTP) scheme for boosting exports from the poorest nations
- It was initiated in 2008 and offers Least Developed Countries (LDCs) preferential access to the Indian market.
- The DFTP scheme aims to boost LDCs’ economic growth, diversify exports, and strengthen trade
- The objective of the scheme for LDCs is grant of tariff preferences on the exports of the Least Developed Countries on imports to India.
- Key Features of India’s DFTP Scheme:
- Under the DFTP scheme, products from LDCs are eligible for duty-free access to the Indian market.
- It is available to all LDCs recognized by the United Nations. India offers this preferential access to around 48 countries classified as LDCs, including countries in Africa, Asia, and the Pacific.
- A wide range of products from LDCs can benefit from the DFTP scheme. These include:
- Agricultural products: Fruits, vegetables, spices, and grains.
- Textiles and garments: Clothing, fabrics, and textiles made in LDCs.
- Handicrafts and traditional goods: Handwoven textiles, jewelry, and locally produced crafts.
- Leather goods: Leather garments, bags, and accessories.
- Minerals and metals: Products like gold, diamonds, and other raw materials.
