FFFAI - FEDERATION OF FREIGHT FORWARDERS' ASSOCIATIONS IN INDIA’s Post

C-DEP's Siddharth Subudhi critically examines the challenges faced by India's domestic manufacturing due to lax enforcement of value addition conditions of 35 percent local value addition in CAROTAR 2020 rules in India's free trade agreements. The impact of this is increasing disbalance in the balance of trade between India and trading partners. #CAROTAR2020 #ValueAddition #DomesticManufacturing #TradeImbalance #IndianEconomy #FreeTradeAgreements #ManufacturingChallenges #TradePolicy #GlobalTrade #EconomicImpact #TradeRelations #IndiaTrade

India has created theTrade Connect ePlatform to connect Indian entrepreneurs, MSMEs and larger companies with key information to help expand export sales. #india #southasia #smes #msmes #exports #exporting #exporters #smeexporters #exportpromotion #exportdevelopment #exportassistance @tradepolicy #tradefacilitation

From MEIS to RoDTEP: The Evolution of Export Incentives Let's take a quick journey through the evolution of export incentives in India and see which was more lucrative for exporters! 🌟 Duty Entitlement Certificates 🌟 In the early days, exporters were rewarded with Duty Entitlement Certificates. This system allowed exporters to earn credits that could be used to offset import duties. While helpful, the scheme had its limitations, especially as global trade dynamics evolved. 🌟 Merchandise Exports from India Scheme (MEIS) 🌟 Enter MEIS, a game-changer introduced to simplify the incentive structure. Under MEIS, exporters received duty credit scrips based on the FOB value of exports. The rates under MEIS varied from 2% to 5% depending on the product and destination. These scrips could be used for payment of various duties, making it easier for exporters to boost their profitability. The system was more streamlined and beneficial for a wide range of products, providing a much-needed push to India's export sector. 🌟 Remission of Duties and Taxes on Export Products (RoDTEP) 🌟 As the world of trade continued to evolve, so did India's export incentive schemes. RoDTEP was introduced to replace MEIS, aiming to refund embedded duties and taxes that were previously not refunded. The rates under RoDTEP are product-specific, ranging from 0.5% to 4.3%, ensuring that Indian products are competitive in the global market. 🤔 So, which was more lucrative? From an exporter's point of view, MEIS was quite lucrative due to its straightforward benefits and higher rates of 2% to 5%. However, RoDTEP, with its focus on covering more hidden costs, promises to offer a more holistic benefit in the long run. While MEIS provided immediate relief, RoDTEP aims to ensure sustained competitiveness for Indian exporters on a global scale. 🚀 As we move forward with RoDTEP, exporters can look forward to a more robust and competitive position in international markets. The journey from Duty Entitlement Certificates to MEIS and now RoDTEP reflects India's commitment to supporting and empowering its exporters every step of the way. #ExportIncentives #RoDTEP #MEIS #TradeEvolution #IndianExports #GlobalTrade #ExportersJourney

FIEO Urges Government to Extend Interest Equalisation Scheme for Exporters by 5 Years New Delhi, The Federation of Indian Export Organisations (FIEO) has called on the government to extend the Interest Equalisation Scheme, or loan subsidy for exporters, by another five years. The scheme, which has seen multiple extensions, is slated to end on September 30, 2024. With global demand remaining subdued and geo-political conflicts disrupting trade, FIEO believes that the extension will offer much-needed support to India’s struggling exporters. Ajay Sahai, Director General of FIEO, addressed the media on the sidelines of an industry event, where he underscored the critical importance of the scheme. “Without the interest equalisation scheme, some Indian exporters may not be able to fulfill overseas shipment demands. Losing this financial support could lead to a loss of both markets and orders,” Sahai warned. The Interest Equalisation Scheme was first introduced in to help exporters offset high domestic credit costs. Initially, the scheme provided a 3 per cent interest subsidy for labour-intensive and MSME sectors. Over time, it was expanded: in the subsidy was increased to 5 per cent for MSMEs, and merchant exporters were brought under its ambit. The scheme has since played a vital role in ensuring competitiveness for Indian exporters, who face a significantly higher credit cost compared to countries like Japan, China, South Korea, and Singapore. If you are a fresher in the Export field. 🔥Join our Startup Export Training.  For more details. 💰 Visit www.ucorpexim.in or Contact 7598 404848 If you have basic about the Export field 🔥Join our Advanced Realtime Export Training. For more details. 💰Visit www.ucorpareto.com or Contact 7598 786858 #export #exporter #exportimport #exports #importexport #exportproduct #exportbusiness #exportbag #exportquality #exportindia #exporting #exportimportdata #eximedia #indiaexport #indiaexports #indiaexporters #indiaexportimport #indiabusiness #ucorpexim #exporttraining#exportstraining #exportertraining #exporterstraining #importtraining #importstraining #importertraining #importerstraining #ucorp

FIEO Urges Government to Extend Interest Equalisation Scheme for Exporters by 5 Years New Delhi, The Federation of Indian Export Organisations (FIEO) has called on the government to extend the Interest Equalisation Scheme, or loan subsidy for exporters, by another five years. The scheme, which has seen multiple extensions, is slated to end on September 30, 2024. With global demand remaining subdued and geo-political conflicts disrupting trade, FIEO believes that the extension will offer much-needed support to India’s struggling exporters. Ajay Sahai, Director General of FIEO, addressed the media on the sidelines of an industry event, where he underscored the critical importance of the scheme. “Without the interest equalisation scheme, some Indian exporters may not be able to fulfill overseas shipment demands. Losing this financial support could lead to a loss of both markets and orders,” Sahai warned. The Interest Equalisation Scheme was first introduced in to help exporters offset high domestic credit costs. Initially, the scheme provided a 3 per cent interest subsidy for labour-intensive and MSME sectors. Over time, it was expanded: in the subsidy was increased to 5 per cent for MSMEs, and merchant exporters were brought under its ambit. The scheme has since played a vital role in ensuring competitiveness for Indian exporters, who face a significantly higher credit cost compared to countries like Japan, China, South Korea, and Singapore. If you are a fresher in the Export field. 🔥Join our Startup Export Training.  For more details. 💰 Visit www.ucorpexim.in or Contact 7598 404848 If you have basic about the Export field 🔥Join our Advanced Realtime Export Training. For more details. 💰Visit www.ucorpareto.com or Contact 7598 786858 #export #exporter #exportimport #exports #importexport #exportproduct #exportbusiness #exportbag #exportquality #exportindia #exporting #exportimportdata #eximedia #indiaexport #indiaexports #indiaexporters #indiaexportimport #indiabusiness #ucorpexim #exporttraining#exportstraining #exportertraining #exporterstraining #importtraining #importstraining #importertraining #importerstraining #ucorp

Great news for exporters operating in the Special Economic Zone (SEZ)! We're thrilled to inform you that Industry players operating in Special Economic Zones (SEZ) can also avail RoDTEP benefits. The application procedure for availing RoDTEP benefits has been enabled vide Custom Notif. 50/2024 (NT). The Government has amended the 24/2023 - Customs Notification to include SEZ units for availing RoDTEP benefits on their exports. This provision is effective from July 1, 2024. ICEA has put extensive efforts and advocated for the inclusion of SEZ units under the RoDTEP scheme. RoDTEP scheme was announced to offset taxes and levies, at the central, state and local level that are not reimbursed currently under any other mechanism, but which are incurred in the process of manufacture and distribution of exported products. This significant move is slated to be towards improving the cost competitiveness of India’s exports. The integration of SEZ units is a crucial step forward in making it easier and more efficient for Indian exporters to thrive. ICEA is all set to make India a Global Mobile and Electronics export hub.  #ICEA #EaseOfDoingBusiness #InternationalTrade #Exports #SEZ #IndiaTrade #Customs #ICEGATE #GlobalMarkets

🌟 EXIM ज्ञान: Understanding the REX System 🌟 Continuing our EXIM ज्ञान series, let's explore the REX system, a game-changer for exporters! ✅ Self-Certification: Exporters can self-declare the origin of their goods, eliminating the need for government-issued certificates. ✅ Registration: Exporters must register with their competent authorities to become "registered exporters" and obtain a REX number. ✅ Simplified Export Procedures: Introduced by the EU in 2017, the REX system replaces the old certificate of origin Form A, making the export process more efficient. ✅ Used for Preferential Trade: Essential for exporting to the EU under trade arrangements like the Generalized System of Preferences (GSP). ✅ Proof of Origin: Exporters must be able to provide proof of origin upon request and accept verification of their processes. ✅ IT System: Implemented through an IT system developed by the European Commission, available to EU member states and GSP beneficiary countries. 🌍 India's Adoption: India started using the REX system from January 1, 2017, allowing exporters to self-certify under the GSP scheme. 📝 Transition Period: A one-year transition period allowed the parallel use of the previous Form A certificates until December 31, 2017. 👥 Facilitation: The registration process for Indian exporters is managed by 16 local administrators, including the DGFT. 🔗 The REX system simplifies international trade, reduces administrative burdens, and is crucial for exporters aiming to leverage preferential trade arrangements with the EU. For more detailed information, refer to the pdf 👉https://lnkd.in/gWG-fg_B Stay tuned for more insights in our EXIM ज्ञान series! 📚✨ Anand Paranjape Aniket Bandagale Shreeya Jadhav Shreya Rokade MCCIA's Centre of Excellence for Women Entrepreneurs Brihanmumbai Custom Brokers Association (BCBA) #EXIMज्ञान #REXSystem #InternationalTrade #Export #Import #SelfCertification #EUTrade #GSP #ExportProcedures #TradeSimplification #OriginDeclaration #TradeCompliance #Exporters #GlobalTrade #TradeFacilitation #InternationalBusiness #Customs #TradeLaw #TradePolicy #TradeBenefits #MarketAccess #TradePartners #TradeInnovation #TradeEfficiency #SupplyChain #Logistics #ExportImport #TradeKnowledge #TradeExperts #TradeSupport #ExportStrategy #BusinessGrowth #TradeOpportunities #ExportCompliance #TradeSimplified #GlobalMarket #TradeTips #TradeFacts #BusinessExpansion #ExportSuccess #TradeUpdates #EconomicGrowth #TradeTools #TradeSuccess #GlobalOpportunities #BusinessDevelopment #ExportInsights #TradeEducation #TradeResources #ExportNews

FFFAI - FEDERATION OF FREIGHT FORWARDERS' ASSOCIATIONS IN INDIA ,led by Chairman Dushyant Mulani, conducted a high-profile delegation visit to Gujarat International Finance #Tec-City (GIFT City). The delegation engaged in comprehensive discussions with officials from #GIFT City, Price Waterhouse, Axis Bank, and the Gujarat #Maritime Cluster (GMC). During this visit, FFFAI was officially inducted as a member of the Gujarat Maritime Cluster. This membership is poised to strengthen collaborative efforts in the maritime and logistics sector, enhancing trade efficiency and fostering growth within the industry. Chairman Mulani expressed enthusiasm about the opportunities this partnership will create, emphasizing the strategic importance of aligning with leading financial and maritime institutions. The discussions at GIFT City revolved around leveraging its state-of-the-art infrastructure and strategic location to boost India's logistics and maritime capabilities. Price Waterhouse and Axis Bank provided insights into financial frameworks and support systems crucial for expanding FFFAI's initiatives. The membership in #GMC marks a significant milestone for FFFAI, positioning it at the forefront of India's maritime innovation and operational excellence. This collaboration is expected to facilitate seamless trade operations and enhance the global competitiveness of Indian freight forwarders. FFFAI’s proactive engagement and strategic partnerships underscore its commitment to advancing India's logistics industry and contributing to its sustainable economic growth. Dushyant Mulani . . . . #fffai #freightforwarders #LogisticsIndustry #FreightLogistics #GlobalFreight #maritime #maritimecluster #giftcity #CollaborativeEffort #partnership #WorkingTogether

Export Webinar Series -3rd Webinar Navigating SCOMET: Key Compliance and Regulatory Insights for Exporters Join us for an in-depth webinar as we explore the critical aspects of SCOMET compliance and regulations. This session is tailored for Customs brokers ,exporters, manufacturers, and trade professionals dealing with sensitive and controlled goods under India's SCOMET regime. Learn from industry experts about the latest updates, licensing processes, and best practices to ensure seamless international trade while adhering to regulatory requirements. Date – 22nd Oct 2024 Time -15.00 Duration – 90 minutes including Q&A Expert faculty -Dr. Joshua Ebenezer -International Trade and customs consultant Platform -ZOOM No fees but registration is mandatory Don’t miss this opportunity to enhance your understanding of export controls and secure your business in a global market. An Initiative of Indian Institute of Freight Forwarders (#IIFF), training arm of #FFFAI Mr Tej Contractor, President IIFF Dr Nirav Thakkar, Hon. Secretary, IIFF Ms Chaitaly Mehta, Convenor, Women's Wing, FFFAI Dr Pramod Sant, Director General FFFAI To attend online through Zoom, register here: https://bit.ly/3U3aa4Q . . . . Federation of Freight Forwarders Associations in India (FFFAI) | Dushyant Mulani | Dr. Joshua Ebenezer #FFFAI #ExportRegulations #InternationalTrade #CustomsCompliance #ExportControl #IIFFWebinar

Export Webinar Series -3rd Webinar Navigating SCOMET: Key Compliance and Regulatory Insights for Exporters Join us for an in-depth webinar as we explore the critical aspects of SCOMET compliance and regulations. This session is tailored for Customs brokers ,exporters, manufacturers, and trade professionals dealing with sensitive and controlled goods under India's SCOMET regime. Learn from industry experts about the latest updates, licensing processes, and best practices to ensure seamless international trade while adhering to regulatory requirements. Date – 22nd Oct 2024 Time -15.00 Duration – 90 minutes including Q&A Expert faculty -Dr. Joshua Ebenezer -International Trade and customs consultant Platform -ZOOM No fees but registration is mandatory Don’t miss this opportunity to enhance your understanding of export controls and secure your business in a global market. An Initiative of Indian Institute of Freight Forwarders (#IIFF), training arm of #FFFAI Mr Tej Contractor, President IIFF  Dr Nirav Thakkar, Hon. Secretary, IIFF Ms Chaitaly Mehta, Convenor, Women's Wing, FFFAI Dr Pramod Sant, Director General FFFAI To attend online through Zoom, register here: https://bit.ly/3U3aa4Q . . . . Federation of Freight Forwarders Associations in India (FFFAI) | Dushyant Mulani | Dr. Joshua Ebenezer #FFFAI #ExportRegulations #InternationalTrade #CustomsCompliance #ExportControl #IIFFWebinar