35% RVC meaning

[Kishan Barai]

What is the meaning of 35% RVC or Wholly obtained or Produced. Please enlighten.

AI Summary

Understanding '35% RVC' in Customs: Goods Must Have 35% Regional Value Content for Trade Agreements & GSP Certificate A forum participant inquired about the meaning of '35% RVC' and 'Wholly obtained or Produced' in the context of customs and trade regulations. Several members acknowledged the expertise of another participant, suggesting he could provide detailed insights. One response clarified that '35% RVC' refers to the requirement that goods must have a Regional Value Content of at least 35% as per specific customs rules under trade agreements between India and countries like Malaysia, ASEAN members, and Korea. Another participant confirmed this interpretation, noting it relates to obtaining a Generalized System of Preferences (GSP) certificate.