World Trade Centre Goa in association with Director General of Foreign Trade and World Trade Centre Mumbai organized an Interactive Meeting with Mrs. Shakuntala Naik, ITS, Dy. Director General of Foreign Trade, on December 21, 2017, at Mapusa, Goa.
Mrs Shakuntala Naik, Dy. Director General of Foreign Trade (Dy. DGFT), addressed the participating Exporters on the various highlights of the Revised Foreign Trade Policy of 2015-2020. She began her address on the GST Goods and Services Tax (GST) related reforms wherein on Export of Finished Goods, an Exporter has an option of either obtaining refund of GST already paid or obtaining exemption from payment of GST on submission of of Letter of Undertaking / Bond. She informed that Merchant Exporters have been allowed to pay nominal GST of 0.1% for procuring goods from domestic suppliers for Exports. Mrs Naik, opined that uniform Tax Rates across states have led to a huge logistics and transaction cost saving for the Exporters.
The Dy. Director General of Foreign Trade then spoke on the repositioning of the Export Strategy that laid emphasis on continued support for Multilateral Rule based Trade and increasing Ease of Trading across borders, through Trade Facilitation and promoting Exports by MSMEs and Labour Intensive Sectors.
Regarding the Ease of Trading Across Borders, she emphasised that a professional team is envisaged to hand hold, assist and support Exporters with their Export related problems, accessing Export Markets and meeting Regulatory Requirements. She pointed out to the fact that systems are in place to closely monitor and reduce dwell time at Ports, Airports and Inland Container Depots (ICDs), through coordination among customs and Infrastructure Ministries.
Enhanced Scope and Incentives as a percentage of Exports under Merchandise Exports from India Scheme (MEIS), Duty Free procurement of Raw Materials / Inputs used for Manufacturing Export Products under Advanced Authorisation Scheme, Export Promotion of Capital Goods (EPCG) Scheme, Market Access Initiative (MAI) Scheme to act as a catalyst to promote Exports, were some of the Exports Promotion Schemes that were lucidly explained by Mrs Naik, the Dy. Director General of Foreign Trade.
Exporters enthusiastically participated in the Open House Session and the Dy. Director General of Foreign Trade encouraged the Exporters to visit the office of the Dy. DGFT for procuring advice and solutions to their ongoing issues and challenges that they would face in promoting Exports.
Earlier, Mr. Cyril Desouza, Asst. Director, World Trade Centre, Goa, extended a warm invite to the delegates present and later , in his closing remarks, stated the objective of the World Trade Centre, Goa which is to a Beacon Light to facilitate and enhance Exports. He also apprised the participants on the various Initiatives and facilities that WTC Goa is offering the Exporters to enhance their International Market reach.