The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, Government of India, has issued an advisory against M/s Julfikar Fashions Limited, Mirpur, Bangladesh, urging Indian exporters, financial institutions and other trade stakeholders to exercise heightened vigilance while undertaking commercial transactions with the company. The advisory has been issued through Trade Notice No. 31/2026-27 dated October 21, 2026, in accordance with paragraph 8.07(d) of the Foreign Trade Policy (FTP), 2023.
According to the Trade Notice, a complaint was received by the Quality Control and Trade Dispute (QCTD) Division of DGFT against the Bangladesh-based firm. The matter was subsequently taken up through appropriate diplomatic and administrative channels under the provisions of FTP 2023 to facilitate resolution of the issues raised in the complaint. However, despite repeated efforts and follow-up communications, no substantive response was received from the concerned company or the relevant authorities, hampering efforts to verify the facts and achieve an amicable resolution.
In view of these developments, and with the objective of safeguarding the interests of Indian exporters and other trade stakeholders, DGFT has advised Export Promotion Councils (EPCs), Industry Associations, Regional Authorities of DGFT, Export Credit Guarantee Corporation of India Ltd. (ECGC), Authorised Dealer Banks and other concerned stakeholders to exercise enhanced caution in their dealings with M/s Julfikar Fashions Limited.
As part of the advisory, stakeholders have been urged to conduct comprehensive due diligence before entering into any commercial arrangement or financial transaction with the company. DGFT has also called upon Export Promotion Councils and industry associations to sensitise exporters, importers and other trade participants about the concerns associated with the entity, enabling them to make informed commercial decisions.
The Trade Notice further advises financial institutions and trade facilitation agencies to carefully evaluate the risk profile of proposed transactions involving the company. Stakeholders have been asked to take the advisory into consideration while processing applications, extending financial or credit assistance, providing trade facilitation services, or issuing certifications and recommendations.
Additionally, DGFT has requested all concerned stakeholders to promptly report any adverse experiences, payment-related issues, contractual disputes or other relevant information involving M/s Julfikar Fashions Limited to the Directorate for further examination and necessary action.
DGFT has clarified that the advisory is purely precautionary in nature, based on information presently available, and is intended to alert the trading community to potential risks associated with commercial dealings involving the company. The Trade Notice does not announce a prohibition on transactions with the firm.
The advisory has been issued with the approval of the Competent Authority under the provisions of paragraph 8.07(d) of the Foreign Trade Policy, 2023, reinforcing the need for vigilance, due diligence and appropriate risk assessment in international trade transactions.
The Trade Notice can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2026/10/Trade-Notice-31.pdf
