Director-General of Foreign Trade puts Airtel on ‘Denied Entry List’

New DELHI: The Director-General of Foreign Trade has blacklisted telecom operator Bharti Airtel on the grounds of not meeting the export obligations and has put it on “Denied Entry List”, official sources said.

The telecom company countered it saying it had applied for closure of all past licenses that were due and has not taken any fresh license since April 2018 because of no requirement.

Government sources said Airtel failed to fulfill the export obligation under Export Promotion Capital Goods Scheme.

“Airtel has not taken any such license since April 2018 as there is no operational requirement. In fact, the company has already applied for the closure of all past licenses that were due and is awaiting approval from the authorities”, sources in the Sunil Mittal company said.

Companies under the ‘Denied Entry list’ lose their import license.

The import-export license of Bharti Airtel has been stopped, according to sources.

The company, however, did not disclose the items of export and import as part of those licenses.

Bharti Airtel was put in this list due to the non-fulfillment of export obligations under the export promotion capital goods (EPCG) scheme that the government has introduced.

Under the EPCG Scheme, the import of capital goods is allowed at zero customs duty for manufacturing goods and services. This is against an export obligation equivalent to 6 times of duty saved on the capital goods. (IANS)

Also Read: Telecom major Airtel’s Chief Regulatory Officer (CRO) Ravi Gandhi resigns

Also Watch: HSLC/AHM Examination 2020: Board of Secondary Education, Assam meeting held in Guwahati