Export Promotion Council for EOUs and SEZs (EPCES)
- September 8, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Export Promotion Council for EOUs and SEZs (EPCES)
Subject – Economy
Context – Commerce Secretary B.V.R. Subrahmanyam has also assured the Export Promotion Council for EOUs and SEZs (EPCES) of a resolution of the massive container shortages afflicting exports.
Concept –
- Export Promotion Council for EOUs & SEZs (EPCES) has been setup by Ministry of Commerce& Industry, Government of India, to service the export promotional needs of EOUs & SEZs in the country.
- Over the years, EPCES has made an endeavour to facilitate consultations between different stakeholders including industry, policy makers, bank, financial institutions and multilateral agencies to facilitate greater competitiveness in the Indian EOUs & SEZ sector.
- EPCES is the only scheme specific & Multi-product Council and represents major industrial sectors, like Textiles, Garments &Yarn, Gem &Jewellery, Leather Goods, Food &Agro products, Electronics & software, Information Technology, Pharmaceuticals &Chemicals, Engineering, Minerals, Granites & other stones, Plastic &Rubber goods etc.
- India was one of the first Asian country to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia’s first EPZ set up in Kandla in 1965.
- EPCES has also been recognized by the Director General of Foreign Trade (DGFT), Ministry of Commerce & Industry, Government of India vide DGFT Public Notice No. 59/2002-7 dated 15.1.2003 and is registered under Societies Registration Act XXI of 1860.
Its objectives are:
- To promote exports from India and to earn more foreign exchange for the country.
- To facilitate interaction between the EOUs/SEZs community and Government both at the Central and State level.
- To provide benefits of Market Access Initiative (MAI) Scheme rendered by the Central Government to Indian Exporters for assisting their export market development efforts.
- To collaborate with other export promotion councils/ export promotion organizations in India and similar bodies in foreign countries as well as with international organizations working in the field.