Govt seeks mode-wise services export data to improve accuracy

[ad_1] New Delhi: In a move to improve the granularity and accuracy of services export data, the government has introduced a new field titled 'Mode of Export of Services' in the eBRC (Electronic Bank Realisation Certificates). The e-BRC is a digital certificate issued by banks to exporters, confirming that payment for an export transaction has been received in foreign currency.This reform also aligns India's data capture policy with international norms, the Directorate General of Foreign Trade (DGFT) said in a notification.“This Directorate is introducing a new field titled ‘Mode of Export of Services’ in the eBRC format for the Services Export category, applicable for eBRC generated on or after May 1, 2025,” it said.This reform also aligns India's data capture policy with international norms under WTO (World Trade Organisation) GATS (General Agreement on Trade in Services).This new field, it said, corresponds to the four modes of services trade - cross border supply (like IT services, remote consulting, telemedicine); consumption abroad (tourism, medical treatment in India, foreign students); commercial presence (Indian bank branches overseas, IT company subsidiaries); presence of natural persons (Engineers, doctors, IT professionals on assignment).Live Events [ad_2] Source link Follow Us: https://facebook.com/gagab2b https://youtube.com/gagab2b https://gagab2b.com https://gagab2b.com/import-export-news/import-export-india-news/govt-seeks-mode-wise-services-export-data-to-improve-accuracy/?feed_id=2176&_unique_id=6809a9ab15882

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