EPCG scheme relaxed for hotel, healthcare & education sectors
The Ministry of Commerce & Industry has relaxed export obligation under the Export Promotion Capital Goods (EPCG) scheme for the hotel, healthcare and education sectors. For 2020-21 and 2021-22, these sectors would not be required to maintain average export obligation for EPCG authorisations issued to them. These sectors will also have an option to extend the export obligation period for a longer duration, without having to pay any additional fees. This relaxation has been provided in light of the economic slowdown caused by Covid-19 pandemic. The EPCG scheme is a trade promotion scheme implemented by the Centre that allows duty-free import of capital goods for the purpose of export production in India.