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Director General of Foreign Trade Anup Pujari said here on Thursday that discussions were on to provide export benefits for rupee-based trade with countries connected through land custom stations (LCSs).
Though he did not mention any particular nation, ideally such measures should benefit Indo-Bangla trade.
According to Pujari, such an effort is being considered following some legal and regulatory concerns owing to trade through porous borders.
“The work is in progress stage now,” he told reporters after an interactive session on emerging challenges in India’s foreign trade organised by the Bengal National Chamber of Commerce and Industry.
EPCG scheme
He also said his office was in talks with the Department of Revenue to harmonise the Export Promotion Capital Goods scheme.
Under this scheme, a manufacturer can import capital goods (largely spares) for pre-production, production and post-production at five per cent Customs duty.
“We are engaged in talks with the Revenue Department to harmonise the EPCG scheme,” Pujari said.
According to him, there should be changes in the scheme to facilitate the traders.
For example, Pujari said a 12-year long export obligation period in some cases (when Customs duty saved to Rs 100 crore or more against an EPCG licence) might be cumbersome.
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