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The Advance Authorization Scheme of the Government of India is a key initiative to boost exports by allowing duty-free import of inputs used in manufacturing products for export. Overall, the reduction in total production cost enhances Indian products’ competitiveness in world markets. The Advance Authorization Scheme encourages exporters to obtain
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MSMEs have been playing a significant role in the Indian economy, with considerable input in terms of employment generation, industrial output, and exports. One of the major issues that most small and medium businesses face is the unavailability of funds. In response to this, the Indian government has initiated and
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Deemed exports help encourage international trade as developed domestic manufacturing creates an incentive for suppliers. Comprehending deemed exports is essential for organizations striving to utilize government policies effectively. This article defines deemed exports, outlines the criteria for beneficiary exporters, and explains the incentives under the export policy. What are Deemed
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The export sector in India is imperative to the country’s economy as it constitutes substantial foreign exchange earnings and sources of employment. The Indian government has instituted various incentives to spur more exports and improve competitiveness in foreign markets. The Foreign Trade Policy (FTP) outlines these incentives and serves
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The NIRVIK Scheme – officially Niryat Rin Vikas Yojana – is one of the very important schemes introduced by the Government of India in favor of small-scale exporters. NIRVIK was announced by Finance Minister Nirmala Sitharaman in the Union Budget for 2020-21, with the main objective of easing credit availability and increasing
International Trade & Finance
Recently, India has made some significant strides regarding the improvement of export capacities to boost its economy further and consolidate its export position in the international market. Most vital among these are the Merchandise Export Incentive Scheme (MEIS). The product of the scheme has been the incentive mechanism that assisted
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Exporting to the market can be a rewarding venture, but at its core lays all those problems it brings with it. Among these is an indispensable element of the export process in India: acquiring the Electronic Bank Realization Certificate (e-BRC). The Electronic Bank Realization Certificate is crucial for exporters as
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Exporting is a tough yet very rewarding journey in the export arena. Venturing into the export market without knowledge of what goes on in the system of the Export Data Processing and Monitoring System (EDPMS) can be frustrating to any exporter. The RBI devised an online platform to ease out
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Documentation forms the most integral part of international trade: it is a surety for easy transactions and also follows rules and regulations. Among these more important documents are a Bill of Lading (BL) and a Shipping Bill. Exporters and importers should be more aware of these two different documents, as
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Documentation is very important in international trade. Post-shipment documents are essential when the goods have already been shipped since these would usually be needed when ending any transaction to ensure everything is in place and accounted for. This helps not only get the goods cleared at customs but also ensures
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International trade is a very complex process, and clearing customs can be quite challenging for export shipments. One of the most important aspects of this process is understanding the necessary documents required for export customs clearance. Proper documentation not only facilitates the smooth transit of goods but also ensures compliance
International Trade & Finance
Entry into the international trading world by a country necessitates knowing the procedures that have to be adopted by a country, one of which is export customs clearance. This is the process of ensuring that the goods you would like to export can leave the country without any legal or