In a global economic scenario defined by competition, each nation is required to make substantial efforts to establish its position in international trade. The two key aspects of international trade are exports and imports: whilst no promotion is required for the imports of a nation, its exports do need a substantial push through policy measures. In order to assist India’s exports and facilitate export financing, Export Promotion Councils have been established across sectors.
What Is an Export Promotion Council (EPC)?
An Export Promotion Council or EPC is an organization established with the aim of promoting, assisting, and enhancing the exports of a particular sector or country. The EPCs in India are established by the Government of India and its ministries and departments. Such councils are non-profit entities and serve as a part of the supportive framework for exporters in the country. Presently, there are 33 Export Promotion Councils in India.
How Can You Become a Member of an EPC in India?
Should you wish to become a member of the Export Promotion Council of India, all you have to do is apply for registration in the relevant council (sector-specific council). Then you shall be issued a Registration cum Membership Certificate or RCMC. Your membership at an EPC in India makes you eligible to receive technical support and insights into exports in the sector your organization is engaged in.
What Are the Benefits of Export Promotion Councils of India?
Here are the major benefits of membership in the Export Promotion Councils of India:
- Availability of Knowledge and Support: An EPC helps its members by providing them with knowledge about international markets and product-specific export scenarios. They also offer support to exporters in their forays into export.
- Provision of information about blacklisted buyers: Export Promotion Councils of India advise their members about the buyers that have been blacklisted owing to a variety of reasons. This information protects Indian exporters from entering into export contracts with dubious buyers.
- Export Promotion: The primary purpose of an EPC is the promotion of exports from India. To this end, such councils send delegations to various nations to build and enhance India’s bilateral trade ties.
EPCs also help the government in the implementation of specific trade policies and guidelines. Whether it is the promotion of the manufacture of particular products or the strengthening of trade pacts with other countries, the Export Promotion Councils of India play an important role for the state.
Gain An Edge in Export Financing
If you are looking for assistance in your export business, then look no further. Credlix’s Integrated Solutions, Export Finance, Credit Risk Coverage, Invoice Discounting, and much more, can now help streamline your business. Learn more about our wide range of export solutions now.