EPCG License, like the Importer Exporter Code, is of interest and concern for indigenous businesses that either import from or export heavily to companies abroad. It is a scheme introduced by the government to incentivize exports and can serve to benefit industries and companies of all sorts in all sectors. It consists in the waiving of import duty on products imported in return for performance or discharge of an export requirement or obligation to the tune of several times the import duty saved within a preset time. Specifically, the government grants Import Duty at a mere 3% of the stipulated charge that would otherwise have to be paid subject to the condition that within a period of 8 years an export obligation of 8 times the Duty Saved has been satisfactorily discharged. In some exceptional cases, the time for the fulfilment of this duty can be extended up to 12 years, but this provision is not easy even for Medium or some Large Scale Enterprises to easily avail, as it applies only to export obligations exceeding 100 Crore.