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Small business ideas in India
People who intend to enter the world of business can kick-start their business with brilliant ideas. Having the youth generation, India is prospering with young talent and professional skills. The ‘Startup India’ scheme welcomes young entrepreneurs with diverse skills. Earning a handsome amount of money with minimum investment is the goal of every small business in the beginning. Some of the ideas for starting a business are as follows- Fast food restaurants can be started in a small place. Outdoor people prefer food irrespective of their economic situation. Fast food [...]
Merchandise Exports From India Scheme
Merchandise Exports from India Scheme ( MEIS ) under the Foreign Trade Policy of India (FTP 2015-20) is one of the two schemes which is introduced in the Foreign Trade Policy of India 2015-20, as a part of Exports from India Scheme. The objective of MEIS is to offset the infrastructural inefficiencies and the associated costs which are involved in the export of goods/products, which are produced/manufactured in India, especially those having high export intensity, employment potential and thereby enhancing India’s export competitiveness. With the aim in making India’s products more competitive [...]
The Food Imports Clearance System (FICS)
The Food Authority has established the Food Import Clearance System ( FICS ) in order to ease the clearance of food imported into India. All stakeholders can access the FICS 24/7 since it is an online system. Stakeholder in the food import clearance process is food importers, custom house agents, food testing laboratories, customs wing of CBEC, Department of Agriculture, Government of India, Department of Animal Husbandry, dairy and fisheries, Government of India, seaports and airport authorities, container freight stations and inland container depots. The stakeholders can access this online system through any [...]
How to register as Custom House Agent (CHA)
Custom House Agent is authorized to handle the transactions of any business relating to the entry or exit of the goods/cargo at the customs station. Their function is thus in order to maintain the details of items and then up-to-date accounts. They thus act on behalf of the importers and exporters. CHA license may thus be temporary and it may be permanent. You need a temporary license in order to get a regular licence. No person can, however, carry on as a CHA unless and until he acquires a license u/s 146 [...]
Service Exports from India Scheme (SEIS)
In this article we would discuss SEIS, Services Exports from India Scheme which is introduced as per Foreign Trade Policy of India 2015-2020 from 1st of April 2015 to 31st of March, 2020. SEIS, Services Exports from India Scheme which is under the Foreign Trade Policy of India 2015-20 is a modification of SEIS, which is served from India Scheme under Foreign Trade Policy 2009-14. The SEIS Scheme shall thus come into force with effect from the date of notification of this Policy, i.e. the rewards under the SEIS shall [...]
Market Development Assistance (MDA) Scheme
To facilitate exports trade, various measures thus have been undertaken in order to increase the export promotions. MDA scheme is under an operation through the Department of Commerce in order to support the following activities: Assist the exporters in the process of export promotion activities abroad Assist the Export Promotion Councils (EPCs) in order to undertake an export promotion activities for their Product(s) and commodities Assist the approved organizations/trade bodies in an undertaking which is exclusive nonrecurring innovative activities that are connected with the export promotion efforts for their members [...]
Market Access Initiative (MAI) Scheme
Market Access Initiative (MAI) Scheme is one of the Exports Promotion Scheme which aims at expanding Indian exports. This scheme is thus based upon the focus product- focus country strategy in order to develop the specific market and also specific product through a market survey. For the purpose of enhancing exports, this assistance would be provided to the exporters/national level institutions/trade promotion organizations/research institutions through accessing new markets or for increasing the shares in existing markets. The activities that are eligible for financial assistance under this scheme are- Marketing projects [...]
List of Export Promotion Schemes in India
Promotional Measures in Foreign Trade Policy:- Exports are regarded as an engine of economic growth in the wake of liberalization and are also considered as structural reforms in the economy. In recent times India is witnessing a slowdown in the process of exports with its traditional partners. Under these circumstances, we thus need to set in motion strategies and the policy measures which catalyze the growth of exports in several different sectors as well as in newer markets. 1. Export Promotion Schemes:- The Foreign Trade Policy 2015-20 and other schemes provide [...]
Know about EPCG Scheme and EPCG License
What is EPCG? -Export Promotion Capital Goods. Where is it required? -Under Import Export in India. EPCG Scheme is regulated by the Ministry of Commerce under the Directorate.General of Foreign Trade which allows for the import of goods for pre-production, production and post-production at 0 % duty which is subject to an export obligation of six times of the duty which is saved on an import of capital goods under the EPCG Scheme, which is to be fulfilled within six years. Import of capital goods shall be subject to the Actual User condition [...]