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Tirupur cheers removal of third party exports procedures
11
Aug '15
Tirupur Exporters Association (TEA) president Dr. A Sakthivel has said that the withdrawal of said Trade Notice has brought cheers to job working units in Tirupur, according to a press release of the Association.

The office of the Joint Director General of Foreign Trade, Coimbatore had issued a Trade Notice No.2 by on November 25, 2014 mentioning to follow up certain procedures like a copy of agreement entered between the EPCG licence holder and ultimate exporter, a proof of having dispatch of the goods from EPCG Licence holder premises to the ultimate exporter, financial evidence of transaction through normal banking channel etc.

The TEA claimed that due to this Trade Notice, more number of job working units like knitting, printing, embroidery, raising, calendering, compacting, etc in Tirupur cluster including spinning mills had faced problems. The Tuticorin Customs was also insisting on submission of additional documents related to Third Party Exports transactions. The crux of the procedure was on proving of the link between EPCG licence holder and ultimate exporter.

Dr. Sakthivel said he took up the issue of Third Party exports with the Union Commerce Minister, Commerce Secretary and DGFT with a request to resolve the matter after considering the nature of Tirupur Cluster and job working units setup. Finally, in the DGFT meeting held on June 18, 2015 in New Delhi, it was decided to withdraw the procedures outlined in the Trade Notice No. 2 issued by JDGFT, Coimbatore. From now on, the DGFT will not call for any additional documents from the EPCG licence holder and the major ports will also insist on export obligation discharge certificate (EODC), the release said.

The TEA president cautioned the units that as third party exports procedures have been incorporated under the new Foreign Trade Policy 2015– 20 which came into effect from April 1, 2015, the EPCG licence holders should compulsory follow the procedures retrospectively from that date. (SH)

 

Fibre2Fashion News Desk – India


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