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Consider the following statements regarding Export Promotion of Capital Goods (EPCG) Scheme.
- The Foreign Trade Policy 2023 is facilitating exports by streamlining the EPCG scheme.
- The EPCG Scheme prohibits the import of capital goods into India.
- Battery Electric Vehicles (BEV) of all types are eligible for reduced Export Obligation requirement under EPCG Scheme.
How many of the above statements is/are correct?
- a)Only one
- b)Only two
- c)All three
- d)None
Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements regarding Export Promotion of Capita...
Statement 2 is incorrect.
Facilitation under Export Promotion of Capital Goods (EPCG) Scheme
- The EPCG Scheme, which allows import of capital goods at zero Customs duty for export production, is being further rationalized. Some key changes being added are:
- Prime Minister Mega Integrated Textile Region and Apparel Parks (PM MITRA) scheme has been added as an additional scheme eligible to claim benefits under CSP (Common Service Provider) Scheme of Export Promotion capital Goods Scheme (EPCG).
- Dairy sector to be exempted from maintaining Average Export Obligation – to support dairy sector to upgrade the technology.
- Battery Electric Vehicles (BEV) of all types, Vertical Farming equipment, Wastewater Treatment and Recycling, Rainwater harvesting system and Rainwater Filters, and Green Hydrogen are added to Green Technology products – will now be eligible for reduced Export Obligation requirement under EPCG Scheme.
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Consider the following statements regarding Export Promotion of Capita...
Foreign Trade Policy 2023 and EPCG Scheme:
- The statement that the Foreign Trade Policy 2023 is facilitating exports by streamlining the EPCG scheme is correct. The policy aims to simplify procedures and provide incentives to boost exports.
- Under the EPCG Scheme, exporters can import capital goods for pre-production, production, and post-production at zero customs duty, subject to an export obligation.
Prohibition on Import of Capital Goods:
- The statement that the EPCG Scheme prohibits the import of capital goods into India is incorrect. In fact, the scheme allows the import of capital goods for specified purposes under certain conditions.
- The main objective of the EPCG Scheme is to facilitate import of capital goods for producing quality goods and services and enhancing India's export competitiveness.
Eligibility of Battery Electric Vehicles (BEV):
- Battery Electric Vehicles (BEVs) are eligible for a reduced Export Obligation requirement under the EPCG Scheme. This means that exporters of BEVs would have a lower export obligation compared to other products.
- This incentivizes the export of environmentally friendly BEVs and supports the government's initiatives to promote sustainable transportation solutions.
Therefore, only the second and third statements are correct, making option 'B' the correct answer.
- The statement that the Foreign Trade Policy 2023 is facilitating exports by streamlining the EPCG scheme is correct. The policy aims to simplify procedures and provide incentives to boost exports.
- Under the EPCG Scheme, exporters can import capital goods for pre-production, production, and post-production at zero customs duty, subject to an export obligation.
Prohibition on Import of Capital Goods:
- The statement that the EPCG Scheme prohibits the import of capital goods into India is incorrect. In fact, the scheme allows the import of capital goods for specified purposes under certain conditions.
- The main objective of the EPCG Scheme is to facilitate import of capital goods for producing quality goods and services and enhancing India's export competitiveness.
Eligibility of Battery Electric Vehicles (BEV):
- Battery Electric Vehicles (BEVs) are eligible for a reduced Export Obligation requirement under the EPCG Scheme. This means that exporters of BEVs would have a lower export obligation compared to other products.
- This incentivizes the export of environmentally friendly BEVs and supports the government's initiatives to promote sustainable transportation solutions.
Therefore, only the second and third statements are correct, making option 'B' the correct answer.
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Consider the following statements regarding Export Promotion of Capital Goods (EPCG) Scheme. The Foreign Trade Policy 2023 is facilitating exports by streamlining the EPCG scheme. The EPCG Scheme prohibits the import of capital goods into India. Battery Electric Vehicles (BEV) of all types are eligible for reduced Export Obligation requirement under EPCG Scheme.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?
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Consider the following statements regarding Export Promotion of Capital Goods (EPCG) Scheme. The Foreign Trade Policy 2023 is facilitating exports by streamlining the EPCG scheme. The EPCG Scheme prohibits the import of capital goods into India. Battery Electric Vehicles (BEV) of all types are eligible for reduced Export Obligation requirement under EPCG Scheme.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding Export Promotion of Capital Goods (EPCG) Scheme. The Foreign Trade Policy 2023 is facilitating exports by streamlining the EPCG scheme. The EPCG Scheme prohibits the import of capital goods into India. Battery Electric Vehicles (BEV) of all types are eligible for reduced Export Obligation requirement under EPCG Scheme.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Export Promotion of Capital Goods (EPCG) Scheme. The Foreign Trade Policy 2023 is facilitating exports by streamlining the EPCG scheme. The EPCG Scheme prohibits the import of capital goods into India. Battery Electric Vehicles (BEV) of all types are eligible for reduced Export Obligation requirement under EPCG Scheme.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?.
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