Govt suspends power of Cashew Export Promotion Council to issue certificate to avail sops

AgenciesExport Promotion Councils and commodity boards issue RCMCs to companies to help them in their export-related works and avail duty benefits under the foreign trade policy.The government on Monday suspended the power of the Cashew Export Promotion Council to issue or renew Registration-Cum-Membership Certificate (RCMC) for cashew kernels, cashewnut shell liquid and kardanol and authorised the Agricultural and Processed Food Products Export Development Authority (APEDA) for the same.

Both the agencies are arms of the commerce and industry ministry.

“Cashew Export Promotion Council of India’s power to issue/renew RCMCs for products falling under their jurisdiction are suspended and APEDA is designated as the agency authorised to issue RCMC for cashew kernels, cashewnut shell liquid and kardanol, with immediate effect,” the Directorate General of Foreign Trade (DGFT) said in a public notice.

Export Promotion Councils and commodity boards issue RCMCs to companies to help them in their export-related works and avail duty benefits under the foreign trade policy.

Source: indiatimes.com