Regulatory Practice

International Trade means the exchange of goods or services between nations. While nations may agree in principle to free trade and market access, considerations like protecting local industry and negating unfair pricing make them resort to trade remedies. WTO compliant trade remedies (such as anti-dumping duties, subsidies and countervailing measures and safeguard duties) are being used by member nations and have far reaching implications for the importer and exporter. With harmonisation of laws under the WTO, and increasing regional trade agreements, India has also seen an increase in the regulatory network and different authorities to ensure fairness and compliance.

As WTO agreements have been embraced by almost every nation, complying with their provisions requires a good understanding of General Agreement on Tariffs and Trade [GATT] and all its covered agreements. Advisory services cover areas like market access, domestic subsidies, General Agreement on Trade in Services [GATS], Trade related aspects of Intellectual Property Rights [TRIPS], Trade Related Investment Measures [TRIMS], Free Trade Agreements [FTAs], etc.

In this aspect, JKA offers following key services:

• Improvement of benefits on imports or exports under Free Trade Agreement (FTA)/Foreign Trade Policy (FTP): Advise and assist in claiming the potential benefits on imports from specified countries under a particular FTA •Advise and assist on availing incentives on export of goods or services from India under various schemes of FTP.

• Overseas expansion by Indian Companies particularly in ASEAN and SAARC countries: Advise and assist in understanding commercial business transaction with special focus on meeting the Local value add compliance of respective nations •Advise and assistance in understanding the requirements of trade agreements under ASEAN and SAARC trade framework for goods and services 

• Setting up of business in SEZ/FTWZ/EOU/STPI or migration from STP/EOU to SEZ: Assistance in preparation of application in the prescribed form for obtaining unit approval,  •Guidance in drafting of project report providing the requisite information on the project •Assistance in drafting and submission of responses and clarifications sought by the Unit Approval Committee with respect to the unit approval •Assistance in obtaining a letter of approval from the Unit Approval Committee on a best effort basis 

 The foreign exchange regulations have been liberalised over the years to facilitate the remittance of funds both in and out of India. The changes have been introduced on a continuous basis in line with the government policy of economic liberalisation. Still, in few cases, specific approvals are required from the regulatory authorities for foreign exchange transactions/remittances.
 

The foreign exchange regulations in India are governed by the Foreign Exchange Management Act, 1999 (“FEMA”). The apex foreign exchange regulatory authority in India is the Reserve Bank of India (“RBI”) which regulates the law and is responsible for all key approvals.

In this respect, below are the key services offered to our clients:

• Assistance in setting up a branch office, liaison office and project office of the foreign company in India and advising on the approaches required in that matter 
• Advise on transactions which have a foreign exchange aspect 
• Carry out regulatory due diligence 
• Carry out compliance health check/regulatory risk analysis of past compliances / filings from foreign exchange regulations perspective 
• Help with representations before regulatory authorities such as the Reserve Bank of India, Foreign Investment Promotion Board, etc. 
• Assistance in representation for the purpose of compounding matters 
• Assistance in obtaining approval for external commercial borrowing.  

The Department for Promotion of Industry and Internal Trade [DPIIT] under Ministry of Commerce & Industry is the nodal department which provides industrial approvals to foreign companies looking to establish manufacturing facilities in India. 

In this regard, our key service offerings includes: 

• Advice & Assistance relating to Industrial Policy and obtaining Industrial License by filing of IEM applications etc.
• Advice & assistance relating to Foreign Direct Investment policy and obtaining approvals under automatic and approval route. 
• Advice and assistance relating to IRP, Patent & Trade Mark laws and filing of application for registrations. Representation services in case of query raised by competent authority.