EPCs works towards increase export of Indian products worldwide. Read this article to know the benefits of EPCs.
What Is an EPC?
EPCs are government organisations that aim to promote the exports of commodities from India across the globe. Each country aims to increase its exports. To do so, they establish EPCs. Apparel Promotion Export Council serve as a bridge between the Government and the exporters, with a primary goal to enhance the exporting capability of the country. These councils assist the Indian exporters in increasing their exports by promoting and providing them access to international markets.
How Many EPCs Are There in India?
There are about 27 EPCs in India. Each of these councils caters to the needs of different segments and categories of products that are to be exported. Such a categorisation provides each of the EPCs a clear focus to promote the products and offer better assistance to exporters.
Apart from these, there are 6 commodity boards and 2 development authorities. All of these are registering authorities that grant the Registration Cum Membership Certificates to appropriate export businesses. Some examples of EPCs in India include APECs, Handicraft EPC, Handloom EPCs, and the Gem and Jewellery EPCs, among others.
Is It Important to Register Your Export Business With an EPCs?
The Government of India rolls out various schemes, programs, concessions, and benefits intending to enhance export capabilities in the country. Registering with an EPC will:
- Make your export business eligible to fetch all the perks launched under the Foreign Trade Policy (FTP)
- Entitle your export firm to attend seminars and international affairs conducted by the EPCs. Such fairs can serve as a great opportunity to meet prospective foreign buyers
- Help your business reach new foreign markets as the EPCs create demand in international markets for domestically manufactured goods through various activities
- Permit you to make use of the ample support and assistance provided by EPCs for the continuous promotion of your products.
- Allow you to utilise various schemes, incentives, and concessions launched by the councils. For example, the APEC often rolls out schemes such as duty exemptions, Technology Upgradation Funds Scheme (TUFS), Textile Centre Infrastructure Development Scheme, and interest subvention scheme, among others
- Make you eligible to access various market reports and data gathered and surveyed by the EPCs
- Get access to the magazine or website of the EPC, which has updated information on all the government rules, procedures, and schemes to keep its registered members updated with the latest information
- Get you facilitation and support from the APEC on issues related to GST
- Be able to deal with unforeseen situations from programs of the EPC. For example, the Virtual Exhibition Platform was launched by the APEC to combat the effect of the pandemic on garment businesses
- Make sure you are legally advised on the labour laws of India, by the Legal Advisor of the EPC.
- Access to the subsidies like the Market Access Initiative (MAI) subsidy. The APEC arranges mega roadshows and other such activities for which it receives a subsidy. Such subsidy is utilised by the council to reduce the cost of stalls of the exporters at Buyer-Seller Meetings and international fairs.
If you are into the export business, you might want to obtain a Registration Cum Membership Certificate (RCMC) from the subsidy schemes for apparel exporters to be able to grasp the aforementioned benefits or any other schemes launched by the Government of India from time to time.
How to Register With an EPCs
Depending on the line of your business, you will have to register your export entity with the appropriate EPC. For example, if you are into the business of exporting ready-made garments, you should obtain a Registration Cum Membership Certificate from the APECs.
To register with an EPC, you have to apply for the concerned EPC using the ANF 2C Form. An exporter can register under two categories, namely, the Manufacturing Exporter, and the Merchant Exporter. You Can become a Member Exporter if the aggregate performance of your business has been more than ₹1 Crore in the preceding three financial years. If you happen to come under the Manufacturing sector, substantiating proof for the same will have to be submitted.
Why Should You Hire Vakilsearch?
Each of the EPCs provides a clear and quick method for the registration of membership. Yet, there are possibilities of your application being rejected due to improper information or inappropriate documentation. To avoid such rejection, you can opt to hire professionals like Vakilsearch to get your export firm registered with the right EPC, with the correct information and documentation. The expert business advisors at Vakilsearch will provide easy and quick solutions to your export business.
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