Updated: November 25, 2021 5:45:35 am
Certificate of origin (COFO) is issued by the Chamber of Commerce for companies which have to prove that their products originate in India. AFTER A year of steady decline in exports due to the Covid-19 pandemic, export of engineering goods, processed food and auto components from Pune seem to be back on track. Maharatta Chamber of Commerce Industries and Agriculture (MCCIA), which issues certificate of origins (non preferential), has seen a significant jump in exports.
Certificate of origin (COFO) is issued by the Chamber of Commerce for companies which have to prove that their products originate in India. These are essential for exports as specified by trade agreements between various countries.
Prashant Girbane, director general of MCCIA, said they certify the origin as Pune, Maharashtra, India. For the financial year 2019-20, the Chamber had issued 40,897 certificates to 1,161 companies.
During the first year of the pandemic, 2020-21, only 946 companies had applied for and received 28,180 certificates. However, this year, from April to October, 1,039 companies had applied for and have received 38,670 certificates. With the financial year months away from ending, Pune is all set to cross the figures of fiscal 2019-20.
Pune usually exports, auto components, engineering good, special chemicals and processed food, said Girbane. “Exports are making a significant contribution to the smart economic recovery from the impact of the pandemic,” he said.
The robust exports come even as freight charges touch all-time high and congestion in ports threaten to derail many players. Acknowledging the same, Girbane said margins for exporters have been hit. “Overall, we feel the pent-up demand is fueling export markets,” he said.
While most of the local exporters are from Pune district, there are many from other districts, including Sangli, Kolhapur, and Satara. To avail a COFO (certificate of origin), exporters from these locations usually sent their representatives to Pune to get their documents validated and stamped at the MCCIA offices.
“Now, they can apply for COFO from their own offices as MCCIA has launched an online facility, after 62 years of COFO being issued in offline mode only. More than 70 companies from various districts have already used this facility, launched in October 2021,” said Girbane.
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