New Delhi [India], September 26 (ANI): Sanjiv Singh, Joint Secretary, Department for Promotion of Industries and Internal Trade (DPIIT) said that the Guidebook on Mapping of Harmonised System of Nomenclature (HSN) codes was released to ensure the mapping of the 12,167 codes with concerned ministries, and would benefit the cause of Make in India.
Speaking to ANI, Singh said, “To ensure the mapping of 12,167 HSN Codes with the concerned ministries, the guidebook has been released. This will benefit the cause of Make in India. The entire ecosystem will benefit a lot with this…”
On September 21, Union Minister of Commerce and Industry, Piyush Goyal released thee HSN guidebook codes prepared by the Promotion of Industry and Internal Trade (DPIIT) during an event on “Celebrating 10 Years of Make in India and Discussion on Next Gen-Reforms 2.0” in New Delhi.
The Guidebook, which allocates 12,167 HSN Codes to 31 Ministries and Departments of the Government of India, aims to promote the adoption of a data-driven approach for manufacturing development, investment promotion, and trade facilitation. It shall serve as the foundation for building a resilient and competitive manufacturing ecosystem.
Emphasizing the significance of this exercise, Goyal mentioned that the Guidebook is a significant stride towards strengthening domestic production capacity and fostering sectoral growth.
Additionally, it will also support more effective Trade Agreement negotiations, which are aligned with national economic priorities and domain strengths. With the facilitation for identification of the relevant Ministry or Department for specific HSN Codes, this initiative will streamline regulatory processes and further enhance ease of doing business.
The origin of the Guidebook’s development lies in the observation of persistent challenges arising during trade negotiations, import substitution efforts, and the redressal of industry concerns due to the absence of a definitive mapping of HSN Codes.
Further, unmapped Codes were misclassified as ‘Residual Products’ due to unclear ownership. To address the matter, DPIIT followed a holistic and proactive approach by undertaking the value-chain and use-case analysis for each of the 12,167 HSN Codes sourced from the Central Board of Indirect Taxes and Customs (CBIC) Tariff Manual. (ANI)
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