Government Eases Norms for EPCG Scheme Licence Holders

The government has eased norms for the Export Promotion Capital Goods (EPCG) scheme to facilitate ease of doing business. The changes include extending the time for licence holders to submit machine installation certificates from six months to three years, enhancing India's manufacturing competitiveness through zero customs duty benefits.

On Thursday, the government announced a major step towards simplifying regulations for the Export Promotion Capital Goods (EPCG) scheme, which aims to enhance the nation's manufacturing competitiveness.

The EPCG scheme allows import of capital goods for production activities at zero customs duty, subject to fulfilling export obligations.

The Directorate General of Foreign Trade (DGFT) disclosed these changes, highlighting an extended deadline for submitting machine installation certificates by licence holders from six months to three years, aligning with the foreign trade policy's ease of doing business initiative.

(With inputs from agencies.)