Understanding Role of Service Export Promotion Council (SEPC) of India in export of Services From India
Service Export Promotion Council (SEPC) is an export promotion council set by commerce and industry ministry. There are 14 export promotion councils (EPCs) under the administrative control of the Department of commerce (DoC). SEPC is registered as non-profit organizations under the companies act with a view to give proper direction, guidance and encouragement to the Services Sector. SEPC of India perform the following function –
- Understanding Markets,
- Accessing subsidies and incentives, The Government provides benefits to the service exporters under SEIS Scheme by which service exporters get the incentive in the form of Duty Credit Scrip.
- Act as an intermediary between the Government and the export industry,
- Help in formulating the foreign trade policies of the country.
Vision of SEPC:-
To make India an International Service Exports Powerhouse by effectively promoting and representing every sectors of Indian services and contributing to the overall growth of the economy,
Mission of SEPC:-
To be an effective voice of Indian Services sector globally, raising its profile through interventions and exchanges leading to increase in business,
To serve as a bridge between government and other stakeholders and the services sector,
To disseminates knowledge and recognize the achievements of organizations in their quest to increase service exports.
Role Played by Service Export Promotion Council of India:-
- SEPC provides the information to the exporters and its members in increasing exports
- Aware the exporters about the Government schemes and benefits under these schemes they can avail, like there is SEIS Scheme under which service exporters can avail the benefits of 5% - 7% on net foreign exchange earned on notified service exports in the form of Duty Credit Scrip which is transferable in nature and can be used in the payment of custom duties.
- Collect the data of Export of its members to build a statistical base to compare industry growth.
- Organise trade delegations to explore opportunities to export services in other countries.
- There are various other EPCs which provides benefits to service exporters as well as goods exporters, Under MEIS Scheme goods exporters can avail the benefits and it may guided by the specific export promotion council of the export products of that exporter or it may be guided by the FIEO Mumbai which is also a export promotion council.
- Give advice to their members related to technology, quality control, standards and specifications etc.
- Organise the following to promote service export business -
- Trade fairs
- Meets between buyers and sellers
- SEPC is also guiding and informing the service exporters that they can consider the service export to take EPCG License under EPCG scheme which allows to import capital goods at zero custom duty. EPCG License can be issued to Merchant Exporters tied with Manufacturer exporters, Manufacturer Exporters, Export Obligation is the condition on which basis EPCG License can be issued. There are two types of export Obligation under EPCG Scheme – 1) Average Export Obligation 2) Specific Export Obligation, Specific export obligation needs to be achieved within 6 years from issuance date of license.
Benefits of becoming member of Service Export Promotion Councils
- After registration members are granted Registration cum membership certificate (RCMC).
- RCMC helps to avail the benefits under foreign trade policies.
- EPCs are responsible to update to their members about the modifications done in foreign trade policy for example Government replaced MEIS Scheme with RoDTEP Scheme which will reimburse all the central and state taxes on the exports of goods & EPCs are playing vital role in deciding the RoDTEP incentive rates.
Details of products falling with their jurisdiction
- Advertising Services
- Accounting/Auditing and Book Keeping Services
- Consultancy Services
- Architectural Services
- Distribution Services
- Educational Services
- Entertainment Services including Audio-Visual–Services
- Environmental Services
- Healthcare Services
- Hotel And Tourism Services
- Legal Services
- Maritime Transport
- Marketing Research and Public Opinion Polling Services/ Management Services
- Printing and Publishing
Head Office/ Registered Office:-
509-511 and 514-518, 5th Floor, Apparel House, Institutional Area, Sector-44, Gurgaon-122003,