Foreign Trade Policy
Key challenges under India’s Foreign Trade Policy:
Identification & Quantification of Export oriented benefits/incentives:
Even under the current Foreign Trade Policy (April 2015 – March 2020), the Government has incentivised goods exports under –
- Merchandise Export from India Scheme (MEIS) & Export Promotion Capital Goods (EPCG) Scheme
- Services export has been incentivised under the Service Exports from India Scheme (SEIS)
- MEIS & SEIS offer duty credit entitlement to exporters, in the form of Scrips, that can be used to debit import duties or can even be traded (duty credit scrips are freely transferable)
BDO India’s professionals have core knowledge of the Policy and Procedures that will help clients achieve the desired objectives.
Designing the template for procedure to obtain the policy benefits:
Right from applying for the Import – Export Code (IEC) to suggesting the procedure to be adopted for applying for the identified scheme/benefit available under the Policy, we assist businesses to get complete clarity on how benefits will eventually materialize in a time bound manner.
Actual assistance in obtaining the policy benefits:
BDO India offers handholding assistance on securing the incentives under the Foreign Trade Policy in all the major port cities in India. This assistance could be by way of preparing the application forms, collating the supporting documents and making the application under the client’s express authorization. It also involves rigorous follow ups with the Regional Foreign Trade Authority (Additional Director General of Foreign Trade or Zonal DGFT)