The growth within Indian cities continues at an exponential rate, a leading factor in economic and social change.
India has been an ATA carnet member for over a decade but initial take up was slow, with just 6 carnets issued internally in the first year.
That figure has now risen beyond 1000 and covers a wide range of business sectors, from film makers, to art dealers, or manufacturers attending trade fairs. Carnet use by visitors to India has also grown.
Around 3000 inbound carnets are currently used each year, aided by India’s decision to expand carnet use. They accept ATA carnets for:
- Professional Equipment – From tools, or instruments, to filming equipment.
- Goods For Presentation – At trade fairs, business exhibitions, or events.
- Commercial Samples – Including models and prototypes, or creative works.
Carnets are not accepted for transit goods, or postal items. Replacement carnets to cover loss are possible, as is a time extension, both require permission and an application before the existing carnet expires.
ATA carnets are valid for 6 months, with the exception of professional equipment, where carnets are valid for 2 months. As above, extensions may be possible and the Indian government are looking at extending time frames.
At 55%, security deposits are higher than average, although a variety of methods are acceptable, including a security bond.
Carnet Use In Practice
Dedicated organisation at a national level has helped ATA carnet use to grow in India. Through information and practical assistance, along with the creation of insurance facilities to replace cash deposits against duties.
Early issues are in the past, with using a carnet in India now a smoother process. Their national chamber organisation (FICCI) recognised that carnets would “Boost the development of Indian business at an international level”.
The need for ease of doing business in a formerly bureaucratic India has led change and carnets are a factor in this. They are now accepted at all major ports, or airports and customs staff understand the procedure.
A Clear Opportunity
Improving workforce skills and business methods have created growth in India. A vast country of over 1.3 billion people, where we have natural ties and share values.
English is a significant language in India, business cultures are not so far apart, neither are legal and technical systems.
As the chart below shows, UK exports to India are increasing:
Current trade ranges from generators, to scientific instruments and beverages. Business service provision has grown notably, from intellectual property, to information services and financial sector support.
A trade agreement with India is being negotiated. The potential for further growth is evident and a trade deal would help overcome any tariff issues, although the temporary import option is already available.
ATA carnets offer a trouble free journey to India, to carry out work, offer practical assistance, or build business. If our support team can help, please ask for advice at any time.