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In a trade notice to the exporters community, the Directorate General of Foreign Trade (DGFT) has said that starting from January 1, 2024, onwards, Indian exporters to the UK are required to adhere to the new rules under Developing Countries Trading Scheme (DCTS) to avail concessions on their exports to the UK. It added that goods that meet the UK DCTS Rules of Origin (RoO) requirements would be eligible to claim a concessional rate of import duty for exports to the UK.
In a trade notice, DGFT further said the United Kingdom (UK) has replaced its existing origin declaration process under Generalized Scheme of Preferences (GSP) with the UK DCTS effective from June 19, 2023. The transition period for this change was extended until December 31, 2023. It said consequently, the origin criteria necessary for satisfying the Rules of Origin to avail tariff concessions on exports from India to the UK must be filled in through self-certification. Accordingly, it said, Indian exporters are directed to use origin declaration wording under DCTS scheme, in place of origin declaration wording under GSP. Certain labour-intensive sectors such as leather, carpets, chemicals, iron and steel and textiles were the major beneficiaries of the GSP scheme.
The US, European Union (EU), Australia, Japan and many other developed countries grant unilateral import duty concessions to developing countries under their GSP schemes. As per estimates, India's exports worth $2.5 billion were entitled for the GSP benefit in the UK. India and the UK have been negotiating a free trade agreement since January 13, 2021. As many as 14 rounds of talks have been completed and both sides are aiming to conclude the negotiations at the earliest.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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