5 Import and Export Schemes for Boosting Business


India is an attractive market for doing business in India due to demographic, geographic and economic benefits the country holds. To enhance the market and motivate the importer and exporter, the government of India has taken several initiatives for the businesses involved in import and export trade. The aim of these schemes to benefit the importer and exporter and to ease the process. Export and Import consultants like ASC Group helps the businesses to avail the benefits of the duty-free incentives. 


Top 5 import & export schemes of the Indian Government are:

  1. EOU (Export Oriented Unit) Scheme: EOU Scheme offers globally competitive duty-free incentives combined with enhanced infrastructural services for export production. Exporters and entrepreneurs can apply for the scheme from the Ministry of Commerce, FIEO, and Export Promotion Council. EOU scheme allows importing products locally without the duty payment of all types of goods comprising of consumables, capital goods, components, raw materials, packing materials, spares, etc. 
  1. MAI (Market Access Initiative) Scheme: It is basically an Export Promotion Scheme, envisioned to perform as a catalyst to stimulate India’s exports on a sustained basis. Entrepreneurs and exporters can apply for the scheme from Export Promotion Council and FIEO. MAI scheme is framed to focus on specific markets and specific products. The activity includes marketing projects abroad, support for statutory compliances, capacity building, studies, project development, etc. 
  1. SEIS (Services Exports from India Scheme): The SEIS has been framed to enhance the exports of notified services. The SEIS incentives shall be permissible for exports rendered on or after the date of notification of this scheme. The duty credit scrips are granted as a benefit under SEIS and the goods imported/domestically obtained against them are freely transferable. 
  1. MEIS (Merchandise Exports from India Scheme): The MEIS Scheme has been initiated for the import and export of certain goods and services in a certain market. MEIS benefits for the export of specific goods to specified markets under MEIS is payable as a percentage of comprehended FOB value and is applicable for exporter and entrepreneur.  
  1. EPCG (Export Promotional Capital Goods) Scheme: The  EPCG Scheme is to simplify the import of capital goods for manufacturing quality goods and products to improve India’s export competitiveness. This is allowed to import capital goods for zero customs duty, post-production, pre-production, and production. 
Location: India

Comments

Post a Comment

Popular posts from this blog

Get BIS Certification via ASC Group

Image
BIS Certification is a means for offering third party guarantee of quality, safety and dependability of products to the consumer. BIS Certification is voluntary and the Government of India has made BIS certification compulsory for certain products taking into concern public health. Bureau of Indian Standards BIS Certification is provided in India by Bureau of Indian Standards (BIS). The National Standards Body has been efficaciously promoting and nurturing standard program within the country since 1947. BIS came into practice in 1987 through an Act of Parliament and is involved in numerous actions like standards formulation, certification of products, hallmarking, testing and calibration scheme and more. BIS Product Certification Scheme BIS Product Certification Scheme is one of the biggest in the world. BIS Certification lets the licensees practice the popular ISI mark on their product, which is similar to quality products. As per Government notification, it is compulsory f
Read more

What is Vendor Management Solutions?

Image
In the fa ce-pace of industrial development, the business has to work with different vendors to compete with economic and geographical barriers. Vendor management is the process that boosts the companies to suitable measures for minimizing potential risks, controlling cost associated with vendors to guarantee outstanding service deliverability, and vendor relationships. Vendor Management Solutions comprises of identifying vendor solution, vendor payment, negotiation, handling tax and legal matters, sourcing vendors, managing relationships, etc. The vendor management experts manage multiple vendors with ease, evaluate the performance according to the company standard, ensure timely payment, etc. A vendor management software is an online web-based tool acting as a single node to cope-up with all the vendor-associated tasks in a company while ensuring enhanced efficiency and continuous growth in an affordable manner. Managing multiple vendors and their matters in an effective mann
Read more

Business Startup Consulting Services in India

Image
India is the fastest growing economy in the world, ranking with the third-largest economy by purchasing power parity and the world's sixth-largest economy by nominal GDP. Starting up a business in India is a complicated process for foreign processes owing to cultural and geographical differences, henceforth, Business consultant in India acts as the backbone of businesses.  Business Startup Consulting  Roughly saying, 17 lakhs companies are registered every year in India, however, many fail due to obstacles like fierce competition, lack of planning, financial crises, less knowledge on a particular subject, etc. Business startup Consultant ‘makes business easy for you’ by offering ‘comprehensive solution to all the complex matter’ and prepare the business to succeed in the competitive market.
Read more