When a business venture exports goods to other country or imports products from other countries or even makes some investments in another country then the entire process is referred to as foreign exchange dealing. The advent of global business opportunities have made this kind of trade extremely popular in the corporate sector. Every business organizations is working for achieving global business opportunities and advantage. But one important aspects of these foreign exchange deals is that these feature the foreign currency as the means for the trade. In India all such foreign exchange transactions are regulated by government approved Foreign Exchange Management Act, abbreviated as FEMA. FEMA was earlier termed as FERA, Foreign Exchange Regulation Act that was issued in the year 1973. The problem was that this act had certain restrictive clauses that dissuaded foreign investments. So with some economic reforms along with liberalized era, FERA got replaced with FEMA act in the year 1999.
FEMA stands out for Foreign Exchange Management Act. This act is applicable on all the offices, branches along with agencies that are outside of India but controlled or owned by an Indian resident. FEMA’s core mission is to aid Indian citizens to make sure that as a part of a growing nation, all Indians work mutually to build, improve & sustain the potential of India to be prepare for, respond to, protect against, recover from, and alleviate all vulnerability. Simply saying this is the governing body used for dealing in selling, buying, giving & taking debts by individuals, businesses & governments in the foreign exchange market. In order to manage all the issues related to FEMA, specialized professionals with vital experience of the field are hired by the officials. These professionals are referred to as FEMA Consultants. FEMA Consultants take care of the all the important factors related to FEMA regulations to ensure proper accurate services are provided to the clients.
EOU Consultants are professionals who handle entire work regarding Export Oriented Units. EOU scheme was regulated by Indian government in the year 1981. The core objective of this Export Oriented Units scheme was to boost the exports, to produce extra employment, make foreign exchange for the country, transport of newest technologies in order to excite high foreign investment. The major sectors that EOU deals in include textiles, granite, garments, coffee, and food processing, pharmaceuticals, and computer software, gem & jewellery, pearl & aqua culture, engineering goods, electrical, and electronics.
Well the basic purpose of the EOU scheme was essentially to improve exports by creating extra production ability. But there are many restrictions, terms, conditions and obligations associated with EOU schemes. All the companies and businesses are required to abide by these if they want to work in the associated field. EOU Consultants are thoroughly aware of these all regulations of EOU scheme. EOU Consultants guide the businesses about all the terms and work accordingly to make sure that the companies are working abiding such regulations. These personnel are even equipped with expertise in the related paper work.
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