{"id":21659,"date":"2024-03-19T09:44:40","date_gmt":"2024-03-19T04:14:40","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=21659"},"modified":"2025-04-06T13:44:05","modified_gmt":"2025-04-06T08:14:05","slug":"developing-countries-trading-scheme","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/developing-countries-trading-scheme\/","title":{"rendered":"What is the Developing Countries Trading Scheme (DCTS)?"},"content":{"rendered":"<h2>About Developing Countries Trading Scheme (DCTS)<\/h2>\n<ul>\n<li>It is a scheme introduced by the\u00a0UK Government to\u00a0facilitate developing countries\u00a0to\u00a0integrate into the global economy, create stronger trade and investment partnerships and strengthen supply chains.<\/li>\n<li>It is a simpler and more generous\u00a0preferential trading scheme which has been designed\u00a0to boost trade with developing countries\u00a0in order to support their development.\u00a0<\/li>\n<li>It\u00a0reduces or removes rates of duty, or tariffs,\u00a0on imports from eligible developing countries into the UK.<\/li>\n<li>It also\u00a0enables UK businesses\u00a0to access thousands of\u00a0products from around the globe at lower prices, reducing costs for UK consumers.<\/li>\n<li>The DCTS\u00a0applies to 65 countries, that are:\n<ul>\n<li>least developed countries (LDCs)\u00a0as defined by the United Nations.<\/li>\n<li>low-income countries (LIC) and lower middle-income countries (LMIC) as defined by the World Bank.<\/li>\n<\/ul>\n<\/li>\n<li>DCTS will\u00a0provide duty-free, quota-free trade to LDCs on everything but arms and\u00a0duty-free, quota-free trade on 85% of eligible goods to most low\u00a0LIC and LMIC countries.<\/li>\n<li>The DCTS\u00a0does not extend to countries and territories\u00a0deemed by the World Bank as \u2018upper-middle income\u2019 for three consecutive years,\u00a0or to LICs and LMICs\u00a0who have a free trade agreement (FTA) with the UK.<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1) What is the Directorate General of Foreign Trade (DGFT)?<\/h3>\n<p>It is a government organization in India responsible for the formulation of exim guidelines and principles for Indian importers and indian exporters of the country. It is an attached office of the Ministry of Commerce and Industry and is headed by the Director General of Foreign Trade. It has been assigned the role of &#8220;facilitator&#8221;. It is responsible for implementing the Foreign Trade Policy or Exim Policy with the main objective of promoting Indian exports.<\/p>\n<p><strong>Source:<\/strong> <a href=\"https:\/\/indianexpress.com\/article\/business\/exporters-need-to-follow-new-uk-rules-to-avail-duty-benefits-dgft-9221363\/\" target=\"_blank\" rel=\"nofollow noopener\"><u>Exporters need to follow new UK rules to avail duty benefits: DGFT<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Developing Countries Trading Scheme is a scheme introduced by the UK Government to facilitate developing countries to integrate into the global economy.<\/p>\n","protected":false},"author":5,"featured_media":21660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-21659","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/21659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=21659"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/21659\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/21660"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=21659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=21659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=21659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}