FTP (Foreign Trade Policy) is a key guide for the country’s trade with the world, setting rules that make trade easier & support economic growth. It helps boost trade by meeting global standards, reducing trade barriers, & expanding the reach of Indian businesses worldwide.
India's FTP (Foreign Trade Policy) is highly important, as it strengthens international trade ties, broadens market access, & boosts economic growth. By offering a clear & predictable structure, the FTP helps businesses plan trade strategies, reduces trade uncertainties, & enhances India's global competitiveness.
The FTP in India offers a range of benefits to exporters, including the following key incentives:
- RoDTEP (Remission of Duties and Taxes on Exported Products): RoDTEP is a scheme to refund indirect taxes on exported goods, boosting the global competitiveness of Indian products & providing a fair field for exporters.
- 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.
- 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.
- 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.
- Advance Authorization: The Advance Authorization scheme permits duty-free import of inputs required for export production, it enables businesses to lower production costs and remain competitive in global markets.
FTP advisory services help Indian businesses make the most of India's Foreign Trade Policy. These services provide expert guidance on available incentives & schemes, helping businesses reduce costs, boost trade operations, & unlock the full benefits of FTP, with these insights, Indian businesses can thrive in global markets, explore new opportunities, & contribute to the nation's economic growth.
How SKMC Global Can Help?
- Guidance & Support: Our team offers clear guidance on India’s Foreign Trade Policy, helping businesses understand the details & make the most of its benefits.
- Incentive Optimization: SKMC Global helps businesses make the most of incentives under the FTP, like RoDTEP, SEIS, Duty Drawback, EPCG & Advance Authorization. We guide you in choosing the right schemes for your trade & assist you with the application & compliance process.
- 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.
- Market Expansion: SKMC Global helps businesses tap into new markets and expand their customer base by leveraging the benefits of the FTP.
- Cost Reduction: Our team helps lower production and trade costs with programs like Duty Drawback, EPCG, and Advance Authorization. This boosts profitability & makes you more competitive in global markets.
- Customized Solutions: We tailor our advisory services to the unique needs of each business, whether you are an exporter, manufacturer, or service provider.