Program on Optimizing Imports through Free and Preferential Trade Agreements
Overview
Over the past decade, the Indian economy has progressively integrated with the global economy. The implementation of liberalized policies has resulted in a notable increase in imports, supported by reduced tariffs and a simplified Foreign Trade Policy. These developments have enhanced the competitiveness of local markets concerning imported goods, prompting importers to seek ways to minimize the landed costs of their imports. Importing from countries with which India has Free Trade Agreements (FTAs) or Preferential Trade Agreements (PTAs) can significantly reduce or eliminate import duties, thereby lowering the overall landed cost.
Currently, India has established FTAs with 19 countries and PTAs with 107 countries.
Objective
The primary aim of this program is to familiarize participants with the intricacies of operating under Free and Preferential Trade Agreements, equipping them with the knowledge necessary to leverage these agreements effectively.
Target Audience
This program is designed for importers and professionals involved in international business, including those in logistics, compliance, and trade management.
Agenda
Concepts
- Understanding the fundamentals of FTAs and PTAs.
List of Countries under FTA
- Overview of countries with which India has FTAs.
List of Countries under PTA
- Overview of countries with which India has PTAs.
Structure of Customs Tariff
- Insights into the customs tariff framework and its application.
Import Documents
- Essential documentation required for smooth import processes.
Customs Correlation
- Understanding the relationship between customs processes and import regulations.
Tariff Classification & Tools
- Exploring tools and methodologies for accurate tariff classification.
Computation of Landed Cost of Import
- Techniques to calculate the total landed cost of imported goods.
Determination & Certification of Country of Origin
- Rules governing the determination and certification of the country of origin under FTAs and PTAs.
Finance Bill 2023-24 – FTA / PTA
- Review of relevant provisions in the Finance Bill affecting FTAs and PTAs.
- CAROTAR 2020 & Imports under FTA / PTA
- Discussion on CAROTAR 2020 and its implications for imports under FTAs and PTAs.
- Miscellaneous
- Additional topics relevant to importers operating under FTAs and PTAs.
Special Feature
A significant revision of the Country of Origin Rules governing imports from countries under FTAs and PTAs was implemented on August 21, 2020. This webinar will focus on these crucial changes and their impact on import operations.