Govt Defines 'Proof of Origin' To Ease Trade of Doing Business and Prevent FTA Misuse

Govt Defines 'Proof of Origin' To Ease Trade of Doing Business and Prevent FTA Misuse

The Indian government has issued a new circular defining ‘proof of origin’ for imported goods, aiming to simplify trade processes and curb misuse of Free Trade Agreements (FTAs).

According to the circular of the Department of Revenue, proof of origin means a certificate or declaration issued in accordance with a trade agreement certifying that the goods fulfil the country of origin criteria.

The move aims to enhance transparency and ensure hassle-free customs clearance.

Industry bodies, like the Apparel Export Promotion Council (AEPC), have welcomed the change, calling it a step towards reducing uncertainty and preventing fraud in trade documentation.

Read Details / 11 months ago

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