DGFT Rules: New Guidelines for Status Holder Certificate Claims 2024

The Directorate General of Foreign Trade (DGFT) has updated the procedural requirements for obtaining and maintaining Status Holder Certificates (1-star to 5-star houses) for the year 2024. This recognition is critical for SME exporters as it grants privileges such as self-declaration of SION, priority clearance, and exemptions from furnishing bank guarantees in various schemes. As per the latest DGFT Foreign Trade Policy 2023 updates, the calculation of export performance for status recognition now includes the valuation of exports in Indian Rupees (INR) alongside traditional foreign currency earnings. This change is designed to support the internationalization of the Rupee. ## What this means for exporters Exporters should review their cumulative FOB value for the current and previous three financial years. A major benefit for Status Holders remains the 'Privilege' of importing duty-free capital goods under the EPCG scheme with lower compliance burdens. Ensure that your IEC (Importer Exporter Code) data is updated on the DGFT portal to facilitate the auto-generation of these certificates based on ICEGATE data, as manual interventions are being phased out in favor of digitized, system-based approvals.