Modi Govt Launches New EMI Scheme for Manufacturers from March 1

• Modi government introduces 'Eligible Manufacturer-Importer' (EMI) scheme for domestic manufacturing sector, effective March 1.
• CBIC Chairman Vivek Chaturvedi announced the scheme, initially a two-year pilot for manufacturers without AEO accreditation.
• Participants must obtain full AEO certification within two years; eligibility criteria and public consultation underway.
• Scheme aims for trust-based governance, technology-driven customs processes, and increased transparency using AI/ML.
• Offers duty deferral, extended 'Advance Ruling' validity to five years, and reduced inspections for industrial growth.