Scope of SEPC in India
Ministry of Commerce & Industry administers a scheme known as Market Development Assistance (MDA) Scheme for the promotion of exports including services exports. Service Exporters, who are members of SEPC, are eligible for financial assistance under MDA scheme for participating overseas “Buyer Seller Meet” or in any international conference to showcase their service capability.
With the new Foreign Trade Policy (2009-14), the Government of India has aimed to accelerate growth in export of services so as to create a powerful and unique ‘Served from India’ brand. Services providers who have a total foreign exchange earnings or earning in Indian rupees which are otherwise considered as having been paid for in free foreign exchange by RBI, of at least Indian rupee 10 lakhs in the current financial year shall be eligible to qualify for duty credit scrip. They shall be entitled to duty credit equivalent to 10 percent of the foreign exchange earned by them in the current financial year. Duty credit entitlement may be used for import of any capital goods including spares, office equipment and professional equipment, office furniture and consumables, provided it is part of their main line of business. In addition to this all service exporters are also entitled for EPCG and other benefits as provided under FTP 2009-2014