Streamlined Export Process: Self-Declaration for India's EFTA Trade
The DGFT has amended guidelines to allow Indian exporters to self-declare the Certificate of Origin under the India-EFTA free trade agreement. This facilitates easier access to duty concessions in exports, making the process more efficient and proving the origin of goods without authorized agency intervention.
- Country:
- India
The Directorate General of Foreign Trade (DGFT) has announced a critical amendment aimed at simplifying export procedures for Indian businesses. In a move to streamline operations and enhance the efficiency of trade, exporters can now self-declare the Certificate of Origin (CoO) under the India-European Free Trade Association (EFTA) free trade agreement.
Implemented as of October 1, the adjustment allows exporters to claim duty concessions under the agreement more conveniently. The requirement for a Certificate of Origin is crucial in identifying the origin of goods and is a standard practice for nations engaging in free trade agreements.
The updated regulation, part of the 2023 Handbook of Procedures, ensures that exporters can either proceed with self-declaration or continue the traditional method of obtaining CoO through authorized agencies, as per the DGFT's latest notice.
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