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EPC- Export Promotion Council

EPC- Export Promotion Council

The EPC is a council which facilitates and assists export related industries. In India there are 14 EPCs which are under the administrative control on ministry of commerce. These councils are non-profit organisations under companies’ act which can perform both advisory and executive functions to support the claim of export oriented industries in India. 

Objective of EPC

The main objective of EPC is to develop, assist and promote the export activities of the country. The main council creates the separate councils as per requirement. Each council is in charge of specific group of projects, products and services. Every council assists in diversifying the sector from productive sector to a foster market-oriented private sector-economy via development of export products which are market oriented. EPC was established in the year 1992 to create a proper channel between the exporters of the country and producers of export products and services. The overall agenda of the EPC was to increase the capacity to the export sector. EPC exist to promote the reputation of India in global market as the reliable supplier of export scope products and services. Sunil Kumar is the chairman of the EPC and central minister for commerce and industry is also the chairperson of the EPC.

Functions of EPC

• To make useful information regarding commerce available to the member and help in boosting exports.

• To help exporters improve their production, design, technology and quality by giving effective suggestions professionally.

• To establish a market for sellers to meet their buyers by organising events, exhibitions, sponsoring events and advertising.

• To make exporters aware of the overall export of the country and enlightening them about insights of the sector.

• Exporters are sent to visit other countries to explore the technology in other markets and implement the same in their process.

• In co-operation with the Export Inspection council, EPC conducts various inspection and makes sure the quality is maintained.

• Provides assistance to exporters in various fields like finance, technology, SCM, insurance and joint ventures.

Significance and role of EPC

The most important role of EPC and the purpose of existence of EPC is to uplift the reputation of India globally in terms of exports. To establish India as a reliable, high quality goods and service provider from rest of the countries perspective. EPC doesn’t provide direct finance assistance to the exporters but acts as an advising committee and suggests the best option to raise funds at cheaper cost. EPC provides RCMC (Registration cum- Membership Certificates) to the exporters for various councils, exporters will avail benefits through that particular council via this membership. EPC acts as the guardian, authority, advisory committee and backbone of the export industry. Any policy change or new introduction of policy by the government in terms of export to boost the sector is communicated through the EPC.  The EPC is a set of councils which work in their vertical to serve the overall objective of EPC. These councils are service line oriented councils for example PEPC (Project Exports Promotion Council), Basic Chemical, cosmetic and Dyes Export Promotion Council, Council for leather EXPORTS, Gem and Jewellery Export Promotion Council, Sports goods export promotion council, The plastic export promotion council and so on. Exporter can get benefits from the council which is relevant to their business after getting that particular council’s membership.

Role of EPC

• Exporters are provided with accurate information about the policies, sector and other formalities by the EPC to make them aware of the government policies.

• EPC acts as a binding force between exporters and the market, which keeps the exporters going.

• EPC sends delegates from the sector to foreign countries to explore and encash new opportunities for the industry inside the country.

• Exporters will receive assistance in opening offices abroad and carry out their business operations smoothly.

• EPC not just creates awareness among exporters and encourages them to do business and export goods but also scale up the quantity of goods.

• EPC collects and maintains complete data regarding export industry sector. The same it made available to the industry players and also presented to the government. This can be used by government to modify or issue new policies for the export sector.

• EPC assists players of the sector in settling any dispute smoothly and still carry on with the operations.

• Exporters can explore new opportunities for export through EPC and make use in of the same in their existing business line or expand.

• Exporters are provided with concessions in any possible way by the EPC in the matter of exports.

• EPC issues certificate of origin for the goods produced by the exporters which is very crucial in maintaining the reputation of the brand globally.

Conclusion

EPC is a collection of number of councils established by the guidance of government of India. The purpose of all the councils are to improve the export of the whole country. The EPC acts as an encouraging agent indirectly to help exporters of the country in various aspects of the business. It doesn’t provide the direct financial assistance but acts as an advisory council and helps firms oriented towards exports to meet their financial requirements. EPC provides concessions on various aspects, helps open offices abroad and even send delegates from the industry to explore new ideas that can benefit the industry Any company whole main objective is to export its goods and services will have to get the membership through RCMC and avail benefits from that particular council. The council also advises the exporters to explore the various areas in exports and make them aware of government policies regarding exports. They also go to the extent of resolving disputes between the players in the export industry. EPC inspects the goods and quality of the products manufactured by the exporters to maintain overall quality of the deliveries. The overall agenda of the EPC is to lift the reputation of the country in the eyes of remaining countries and also the scale up the volume of products and services produced for the purpose of export.



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