The Biz Reporter
Srinagar, Sep 26: In a significant development for the business community in the Kashmir region, the Kashmir Chamber of Commerce & Industry (KCCI) has emerged victorious in its battle to reclaim its authority to issue Certificates of Origin (Non-preferential).
The Director General of Foreign Trade (DGFT), Mr. Santosh Kumar Sarangi, has responded favorably to KCCI’s representation and taken swift action to address the issue.
The KCCI had found itself in a challenging position after being de-listed as an authorized Chamber for issuing Certificates of Origin due to its failure to ON-BOARD on the e-CoO platform as outlined in Trade Notice No: 42/2020-21 dated February 19, 2021. However, it’s worth noting that the KCCI claims it never received this initial notice nor the subsequent 12 notices issued by DGFT throughout 2021 and 2022, along with two notices in 2023, which were intended to facilitate compliance.
In a positive turn of events, the DGFT has taken a proactive stance by granting the KCCI additional time to complete the ON-BOARDING process with the National Securities Depository Limited (NSDL). Following this, the DGFT will re-include the KCCI in Appendix 2E of FTP, reaffirming its status as an authorized Chamber for issuing Certificates of Origin.
The KCCI has expressed its heartfelt gratitude to Mr. Santosh Kumar Sarangi for his responsiveness and prompt action in rectifying the situation. The business community in the Kashmir region has collectively breathed a sigh of relief upon learning of the DGFT’s decision. This development is set to alleviate concerns and streamline the export process for numerous enterprises.
However, amid the celebration of this triumph, the KCCI has voiced its anguish over the irresponsible conduct of certain individuals who attempted to exploit the situation for their personal interests. The Chamber also extends its appreciation to its members and concerned members of civil society for their unwavering support during this challenging period.
Faiz Bakshi, Secretary General of the Kashmir Chamber of Commerce & Industry, expressed optimism about the future and emphasized the importance of maintaining compliance with regulatory requirements to ensure the smooth functioning of export operations in the region.
This decision by the DGFT not only reinstates the KCCI’s role in facilitating trade but also underscores the significance of effective communication and collaboration between business chambers and regulatory authorities.