Only one application for export promotion scheme in Ahmedabad since launch in 2012

Ahmedabad

Lamenting at the poor awareness about certain export promotion initiatives of the government, the Joint Director General of Foreign Trade Mr. Anil Kumar Singh today said that his office has received only one application to avail the post export – Export Promotion Capital Goods Scheme (EPCG) in Ahmedabad since its launch in 2012.

Addressing a seminar on export incentives and business opportunities organized by the Engineering Exports Promotion Council (EEPC India) here , Mr. Singh said the post export EPCG scheme has a provision of export duty waiver for potential exporters who import goods for manufacturing. ‘The total import duty paid by the trader would be returned if he decides to export the product at a later date. This is a good scheme but has not picked up the way we thought of. In Ahmedabad only one application under the scheme has been received so far,’ he said.

Through an assisted power point presentation he elaborated on the various schemes to promote the new and potential exporters including the Market Development Assistance (MDA) scheme that gives financial assistance from Rs. one to 2.5 lakhs for promotion activities in various countries.

He urged the Indian business and trading community to compete with the foreign players taking benefits from the existing rules and venturing in to the overseas markets. ‘ If the foreigners are coming they are bound to take your share in the Indian Market and to compete you (the Indian companies) must venture in to the overseas markets. You should also grab the other available markets,’ Mr Singh said adding the Indian companies should file complaints under anti dumping or Injury laws as safeguard measures if they feel a genuine threat.

On the occasion the Regional Director of EEPC, Mr. Rajat Srivastava said that the sluggish engineering export has shown some sign of improvement in last couple of months. ‘The market which had slowed down under the influence of the worldwide slump was up by 12 percent last July and did fairly in August,’ he said.

– DeshGujarat