Foreign Trade Policy Advisory

Customs and Foreign Trade Policy - Foreign Trade Policy Advisory

In the globalized world of trade, India’s Foreign Trade Policy (FTP) emerges as a strategic framework that provides direction and guidelines for the country’s international commerce activities. It is imperative in facilitating trade, ensuring compliance with international regulations, and promoting economic growth. The FTP serves as a critical tool to streamline trade operations, reduce trade barriers, and enhance the competitiveness of Indian businesses on the global stage.

The significance of the FTP in India cannot be overstated. It plays a central role in fostering international trade relations, expanding market access, and stimulating economic growth. By providing a structured and predictable framework, the FTP enables businesses to plan their trade strategies effectively, reduces trade-related uncertainties, and supports India’s global trade competitiveness.

The FTP in India offers a range of benefits to exporters, including the following key incentives:

  1. RoDTEP (Remission of Duties and Taxes on Exported Products): RoDTEP is a scheme designed to reimburse the indirect taxes paid on the export of goods. It enhances the competitiveness of Indian products in international markets by providing a level playing field for exporters.
  2. SEIS (Service Exports from India Scheme): SEIS encourages the export of services by offering rewards to service providers. It provides financial incentives to businesses engaged in a broad spectrum of services, fostering India’s services trade.
  3. Duty Drawback: Duty drawback allows exporters to claim a refund of customs duties and taxes paid on imported goods used in the production of exported items. It reduces the cost of production and enhances the competitiveness of Indian exports.
  4. EPCG (Export Promotion Capital Goods Scheme): The EPCG scheme facilitates the import of capital goods for pre-production, production, and post-production at zero or concessional customs duty rates. It supports investment in technology upgrades and modernization.
  5. Advance Authorisation: The Advance Authorisation scheme permits duty-free import of inputs required for export production. It enables businesses to lower production costs and remain competitive in global markets.

In conclusion, FTP advisory services are instrumental in helping Indian businesses harness the full potential of India’s Foreign Trade Policy. These services provide expert guidance on the various incentives and schemes available, ensuring that businesses optimize their trade operations, reduce costs, and maximize the benefits of FTP. By leveraging the opportunities presented by the FTP, Indian businesses can thrive in international trade, expand their market reach, and contribute to the country’s economic growth.

 

How SKMC Global Can Help?

  1. Expert Guidance: Our team provides expert guidance on India’s Foreign Trade Policy, ensuring that businesses understand the intricacies of the policy and how to leverage its benefits effectively.
  2. Incentive Optimization: SKMC Global assists businesses in optimizing the incentives offered under the FTP, such as RoDTEP, SEIS, Duty Drawback, EPCG, and Advance Authorisation. We help you identify the schemes that best suit your trade activities and guide you through the application and compliance processes.
  3. Compliance Support: Our services include ensuring that businesses remain compliant with the requirements of the FTP. We provide guidance on documentation, record-keeping, and reporting to help you avoid penalties and disputes.
  4. Market Expansion: SKMC Global helps businesses tap into new markets and expand their customer base by leveraging the benefits of the FTP. We enable businesses to enhance their global trade competitiveness.
  5. Cost Reduction: Our team assists in reducing production and trade-related costs through schemes like Duty Drawback, EPCG, and Advance Authorisation. This leads to increased profitability and competitiveness in international markets.

Customized Solutions: We tailor our advisory services to the unique needs of each business, whether you are an exporter, manufacturer, or service provider. Our solutions are designed to align with your specific trade activities and objectives.

Our firm provides the expert support individuals and organizations need to thrive in a fast-changing world.
Learn more today!

Phone: +91 989-125-5499
Mail: info@skmcglobal.com