In a move that is set to redefine India’s trade landscape, Union Minister for Commerce and Industry, Piyush Goyal, unveiled the highly-anticipated Status Holder Certificates under the ambit of the Foreign Trade Policy 2023. This initiative comes as a part of the government’s ongoing efforts to promote exports, streamline trade procedures, and reward businesses for their exemplary contributions to India’s international trade.
The Status Holder Certificates will be conferred upon businesses and individuals who have consistently excelled in their export performance and have made significant contributions to India’s foreign trade. These certificates are expected to provide a host of benefits to the recipients, including priority in various government schemes and incentives, faster custom clearances, and access to exclusive export promotion events and seminars.
Speaking at the unveiling ceremony, Minister Piyush Goyal emphasized the government’s commitment to making India a global export powerhouse. He stated, “The Status Holder Certificates are a testament to our government’s dedication to recognizing and supporting our most successful exporters. We believe that by incentivizing excellence in foreign trade, we can accelerate India’s economic growth and bolster our position in the global market.”
The Foreign Trade Policy 2023, which lays the foundation for the Status Holder Certificates, aims to simplify trade procedures, enhance ease of doing business, and facilitate smoother international transactions. It places a strong emphasis on promoting exports across various sectors, including manufacturing, services, and agriculture.
Key highlights of the Status Holder Certificates include:
- Priority Access: Certificate holders will enjoy priority access to various government incentives, including export credit, financial assistance, and export promotion schemes.
- Customs Facilitation: Expedited custom clearances and reduced inspection time for goods exported by certificate holders to streamline their operations.
- Networking Opportunities: Exclusive access to trade seminars, exhibitions, and networking events to help businesses explore new markets and opportunities.
- Recognition and Prestige: The certificates will serve as a mark of excellence, enhancing the reputation and credibility of the awardees in international trade circles.
The introduction of Status Holder Certificates is expected to encourage businesses to strive for excellence in foreign trade and drive India’s exports to new heights. It aligns with the government’s vision of transforming India into a $5 trillion economy by boosting exports and attracting foreign investments.
As the Foreign Trade Policy 2023 continues to evolve, the Status Holder Certificates are poised to play a pivotal role in elevating India’s global trade profile, making it a favorable destination for businesses and investors worldwide.