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Introducing India to the world through Export Promotion Councils

Posted on July 25, 2022December 21, 2022 by admin

India’s Export Promotion Councils (EPCs) provide access to international markets, promote Indian products through various activities, and increase overall exports by assisting Indian exporters. 

In every country, export promotion organizations perform this function. About 37 organizations cater to the export needs of different product categories in India. A total of 37 organizations cater to the export needs of different product categories in India.

Why export promotion?

Table of Contents

  • Why export promotion?
  • Role of Export Promotion Councils (EPCs)
    • Functions of EPCs
    • Benefits of EPCs

‍Export promotion isn’t new to countries worldwide since time immemorial. The act of export promotion gained prominence after the second world war when a structured approach was introduced. Apex body for export promotion in India is Federation of India Export Organisations (FIEO), established in 1965.

Various export promotion councils (EPCs) are established in India to cater to the specific export requirements of different products. Every product category, i.e. electronic goods, apparel, food, etc. has its own requirements and export-related challenges. Thus, export promotion councils assist exporters with overcoming those challenges and increasing exports. 

An EPC serves as a bridge between the Government and exporters to boost exports by coordinating with both parties. Under the Companies Act/Societies Registration Act, the councils are formed as non-profit organizations. There are also Commodity Boards and Export Development Authorities in some export industries. 

In Parliament, special Acts were passed to establish commodity boards and export development authorities. 

As the main body of all export promotion councils, FIEO is the apex body. The organization serves as a vital link between Indian exporters, the Central Government, State Governments, financial institutions, ports, railways, surface transportation, and other stakeholders.

 More than 200,000 exporters from all goods and services industries are served directly or indirectly by FIEO. 

Role of Export Promotion Councils (EPCs)

‍EPCs play a crucial role in promoting India as a high-quality export destination. In order to accomplish this, EPCs represent India and its exporters on international markets and promote their products in various ways. In addition to helping exporters identify new markets and expand their export basket, export promotion companies consolidate exports to current markets.

Additionally, they provide insights about the challenges faced by exporters on international markets to the Government in order to formulate effective trade policies.

Functions of EPCs

  • Export promotion: It is the primary goal of EPCs to assist exporters in promoting their products internationally. A variety of external and internal promotional activities are carried out to achieve this, such as the organization of trade fairs, buyer-seller meetings, and many others. 
  • Incentive schemes: Ensure that exporters are able to take advantage of the various incentive schemes outlined in the Foreign Trade Policy. FIEO RCMC certificates can only be issued by EPCs, without which exporters cannot benefit. 
  • Developing new markets: Provide exporters with the opportunity to consolidate their exports and expand into new markets through EPC’s foreign branches and offices. Particularly helpful to small and medium manufacturers who may lack the resources to do this themselves.
  • Enhance relations: Delegates should be sent to key foreign countries for the purpose of strengthening or diversifying exports to those countries.
  • Timely information: Provide exporters with information about the latest trends, happenings, and export opportunities in international markets; changes or updates in trade policies.
  • Coordinating: Identifying the needs, issues, and problems of the trade and export communities and advocating for their solutions to the government.
  • Support policy-making: Gather comprehensive data on exports for their respective product categories and provide it to the government so that it can help formulate effective trade policies.
  • Assist exporters with : (a) upgrading technology, (b) improving the quality of products and services, (c) improving the design, (d) standards and specifications, (e) product design, (f) innovation

Benefits of EPCs

  • Exporters can easily access international markets : As EPCs work toward increasing buyer-seller interaction, exporters can easily access international markets. Small and medium businesses stand to benefit most from this, since they typically cannot approach international buyers on their own. 
  • Export incentives: Exporters who are registered with the EPCs are eligible to benefit from the government’s various export incentive schemes. To take advantage of these benefits, exporters must register with EPCs. 
  • Trade data source: EPCs collect export and import data from all of their members, creating a valuable repository for exporters and governments. Data like this can provide a great deal of insight into how to diversify and expand the international market. 
  • The platform for growth: Export promotion companies facilitate foreign tours for trade delegations to help exporters gain access to new markets. Tours like these offer perfect opportunities to expand the buyer base and exports. As a result, not only are trade relations strengthened, but also bilateral relations in general.

Read more,

  • How to Become a Food Product Exporter: 8 Steps to Success
  • Federation of Indian Export Organisations
  • The principal activities are undertaken by FIEO
FIEO

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