Export Promotion

Export promotion allows businesses to better sell their goods and services outside the country by simplifying the intricate process of the international market, which involves locating buyers, understanding markets, and availing financial assistance abroad. The export promotion council plays a very big role in advising information and support; it is trying to make global trade easy for businesses. The objective of export promotion is focused on increasing the sale of goods and services on the global market, which would have a positive impact on the economy of the country.

What Is the Indian Export Promotion Council?

Export Promotion Councils (EPCs) are effective bodies in the sense that they assist businesses in selling their products worldwide. These are government-supported bodies that help companies develop their business internationally. Their chief function is to offer helpful counsel, technical assistance, and advocate government schemes. EPCs are non-profit organizations established under specific laws and act as a communications bridge between the government and the exporting business community. They perform two key functions: advisory and executive. In the advisory role, EPCs provide advice and information designed to assist firms in coping with the problems of international trade. On the government side, they endeavor to present the country's products to other states and thus create good credibility for manufacturing quality commodities. They also coordinate government information with governmental assistance so that business can best utilize what is available to them. They help to establish foreign policy decisions on issues dealing with trading. For EPCs to be more operational they are arranged according to product type category. Each category of product has a separate council so that the business may obtain focused assistance. Lastly, EPCs ensure exporters comply with international regulations; this guarantees the quality of products and in turn, the country's global image.

Their key functions include:

1. Indian Export Promotion Council Information Circulation

 Indian Export Promotion Council plays a crucial part in assisting exporters through a proper flow of information which in return helps them expand their exports. They inform the exporters about various programs and facilities provided by the government.

2. Data Collection

Export Promotion Councils also collect information on exports and imports from their members, which helps track the growth in industries and market trends. They collect information on international trade to have a proper view of the world market.

3. Organizing Trade Delegations

In order to help the business sector find new opportunities, EPCs arrange for various trade delegations where companies are brought together with potential partners and customers in different countries.

4.Member Advisory Services

Advice on adoption of new technology, maintenance of quality, and adherence to international standards.

5. Promotion of Business Events

Organizing various business promotional events in the form of trade fairs, exhibitions, seminars, meetings, among others, for the betterment of business and networking.

6. Market Exploration

The organizations help explore new markets with the help of such events and delegations.

7. Technology Adoption

EPCs help a business remain competitive and are able to adopt relevant technology to access newer markets.

8. Quality Assurance

EPCs guide businesses to keep the quality of the product to retain the country's reputation in the international market.

Benefits of Export Promotion Skill

• Market Access

Export Promotion Councils (EPCs) help businesses in gaining access to the international markets by providing relevant information about how and where to sell, sourcing possible buyers, and identifying new opportunities.

• Governmental Support

EPCs enable businesses to have the correct information about subsidies, incentives, and other advantages that the government can offer to businesses.

• Networking Opportunities

They facilitate various trade delegations, fairs, and events with an aim of giving a room for networking, thereby giving the exporter a chance to interact with various partners and buyers from all over the world.

• Data and Research

EPCs collect and share data and research on trends in the global market useful in providing exporters with making wise decisions and adaptation to changes.

• Quality Standards

They help businesses to meet international quality standards, thus making their products more competitive on the global market.

• Industry Representation

EPC represents the interests of its industry to effect supportive policies and take care of the challenges within a specific scope.

• Capacity Building

The EPCs also build exporters' capacity through training, workshops, and resources that allow them to deal with the complexities associated with international trade.

Export Promotion Councils of India

1. EEPC India

The Engineering Export Promotion Council EPC seeks to popularize the engineering products and assist engineering organizations to establish a base in the world markets.

2. Project Exports Promotion Council of India

The PEPC assists in the promotion of the export of civil and engineering projects and helps in making the Indian project exports more popular all over the world.

3. Basic Chemicals, Pharmaceuticals, and Cosmetics Export Promotion Council (Chemexcil)

Chemexcil aims to serve the basic chemicals, pharmaceuticals, and cosmetics export sectors for the enhancement of competitive excellence and consolidation of market presence in the global market.

4. Chemicals and Allied Products Export Promotion Council (CAPEXIL)

It facilitates exports of various chemicals and their related products to a large extent, thereby enhancing world trade to its full potential in favor of India's chemical industry.

5. Council for Leather Exports (CLE)

It is a council dealing in the export of leather and leather products. It works towards elevating the recognition of Indian leather and its products in the overseas markets.

6. Sports Goods Export Promotion Council (SGPEC)

This council fosters sports goods exports, helping out by enabling sports goods manufacturers to avail benefits from the international market.

7. Gem and Jewellery Export Promotion Council (GJEPC)

The GJEPC is to promote exports for gems and jewelry. It helps in maintaining and enhancing the goodwill of Indian jewels in other countries' markets.

8. Shellac Export Promotion Council

This represents the saps and extracts of the vegetable export group and works toward increasing world markets for Indian shellac products.

9. Cashew Export Promotion Council of India

It deals with cashew and cashew product exports and helps the Indian cashew industry increase its global market share.

10. The Plastics Export Promotion Council

This organization promotes exports of plastics and plastic products with the objective of developing the Indian plastics industry in global markets.

11. Export Promotion Council for EOUs & SEZ Units (EPCES)

EPCES is engaged in promoting the export activities of units set up under the EOU and SEZ Schemes to make them globally competitive.

12. Pharmaceuticals Export Promotion Council

This council deals with the export of pharmaceutical products. It aids in facilitating export initiatives for Indian pharmaceuticals in international markets.

13. Indian Oilseeds & Produce Export Promotion Council (IOPEPC)

Deals with oilseeds and its produce exports. The stated aim of this council is to export oilseeds and their allied produce and overseas trade in edible oils and oilseeds from India.

14. Services Export Promotion Council

It deals with services exports. It assumes that as the Indian service sector continues to develop, international trade in services emerges and becomes a significant factor.

Registration Process for Export Promotion Council

To avail support from an Export Promotion Council (EPC), one must follow the process below:

1. Check if you are eligible: Is your business's products/industry part of the EPC's focus area?

2. Get your documents ready: Collect all relevant information and documents regarding your business, your company's products, and how the company complies with these standards and requirements.

3. Complete: Submit the application and any other required documents, along with the fee, to the EPC. 

4. Examine: An EPC shall examine your application for conformity with its objectives and criteria .

5. Certification: If certified, your company is now "registered" by EPC Membership fees: Some EPCs will have a membership fee. Pay fees if/when required by the EPC according to their policy.

6. Access Facilities: Once you are registered, you may access the services of the EPC for matters that include market information, trade promotion, and export assistance.

7. Observe Rules: In association with the EPC, it is important to follow their guidelines and rules in order to continue enjoying the privileges that come through their service. However, different EPCs may have different rules and requirements; therefore, be aware of their respective policies and procedures. Active participation with the EPC gains you more of its support. This is required to register with the Export Promotion Council.

Important Documents You Need to Register with an Export Promotion Council

If you plan to start doing international trade with the help of an Export Promotion Council, you need to have the following documents available:

• Digital Signature Certificate

You can get a digital signature certificate in order to electronically sign e-documents, that will also help keep your online transaction safe.

• Copy of IEC Code Certificate

Submit a copy of your Importer-Exporter Code (IEC) certificate, required for foreign trading.

• CA-Certified Export Turnover Figure

Export turnover (FOB value in Rupees) has to be certified by a Chartered Accountant, a mandatory document to be submitted for EPC registration.

• List of Partners and Directors

A list of partners and directors of the business, along with their residential addresses, helps to add transparency and accountability.

• MSME Registration Certificate

If the company is registered under MSME status, being an MSME can add benefits to you; kindly provide the same. Keeping these documents in order and updated will ensure the registration process is fast and successful in partnership with the Export Promotion Council.

Conclusion

Export promotion councils are indispensable to any business looking forward to starting trading internationally. They offer all sorts of support from the information to event organizing, quality standards, and even technology adoption. Make sure to pursue EPC guidance to follow up with the right documentation and maximum international trade opportunities. EPCs help in easy navigation of the global markets: with their guidance, your business will thrive successfully on a global level.