Sebastian Roggeveen

The certification of EIC/EIAs provides the following benefits to the exporters:

1. Independent third party certification as a tool for market access.

2. Official assurance of quality, which is becoming particularly relevant in food sector to meet regulatory requirements of importing countries.

3. Free entry for Indian products in overseas market through equivalence agreements / MOUs with official import control bodies of our trading partners whereby EICs certification is recognized by them as meeting their requirements.

Export Import Policy or better known as Exim Policy is a set of guidelines and instructions related to the import and export of goods. The Government of India notifies the Exim Policy for a period of five years (1997 2002) under Section 5 of the Foreign Trade (Development and Regulation Act), 1992. The current policy covers the period 2002 2007. The Export Import Policy is updated every year on the 31st of March and the modifications, improvements and new schemes becames effective from 1st April of every year. All types of changes or modifications related to the Exim Policy is normally announced by the Union Minister of Commerce and Industry who coordinates with the Ministry of Finance, the Directorate General of Foreign Trade and its network of regional offices.

a) Offers insurance protection to exporters against payment risks

b) Provides guidance in export-related activities

c) Makes available information on different countries with its own credit ratings

d) Makes it easy to obtain export finance from banks/financial institutions

e) Assists exporters in recovering bad debts

f) Provides information on credit-worthiness of overseas buyers

Exporters should seriously consider having the freight forwarder handle the formidable amount of documentation that exporting requires, freight forwarders are specialists in this process. I will give you the list of documents that are commonly used in exporting, which of them are actually used in each case depends on the requirements of both government of the exporting country and the government of the importing country.

1. Commercial invoice

2. Bill of lading

3. Consular invoice

4. Certificate of origin

5. Inspection certification

6. Dock receipt and warehouse receipt

7. Destination control statement

8. Insurance certificate

9. Export license

10. Export packing list

Export Promotion Capital Goods (EPCG) scheme enables import of capital goods and spares required for pre-production, production and post production at zero duty against export obligation (EO) equivalent to 6 times of the duty saved amount on the capital goods (CG) imported within EO period of 6 years (extendable by 2 years) from the date of issue of EPCG Authorization. A more favorable dispensation for EO is provided for export of specified green technology products as well as units located in North Eastern States, Sikkim and Jammu and Kashmir. At list 50% of EO must be filled within first block of 4 years.