Brand new Announces Relief Package For Exporters

After witnessing a huge contraction in export orders for the past few months, Indian micro, small and medium enterprises (MSMEs) in the export sector will soon receive much needed relief.

In an effort to reduce the economic pressure, the United Progressive Alliance (UPA) led government recently unveiled a special package worth Rs 325 crore produce relief to the export segment. This move is likely to benefit the employment-intensive export sectors since leather, gems & jewelery and textiles.

Under the new package, procedural formalities for claiming duty drawback refund and refund of terminal excise duty already been simplified to help MSME exporters prune high transaction service fees.

Measures like quick settlement of duty credit scrips to be able to issued ahead from the realization of export proceeds and extension of scrips for import of even restricted items after payment of duty is expected to facilitate greater switch.

Online Udyog Aadhaar Registration In India order to promote trade facilitation, federal government has also extended a provision to relieve export obligations depending on the decline in exports.

Export incentives for items like technical textiles, stapling machine and handmade carpets have been provided during the recently announced export stimulus package.

The de-linking of grant of benefit under the work entitlement pass book (DEPB) scheme one more incentive a good-looking lawn help the MSME export segment tide over the continuing crisis.

In order to promote trade facilitation, the government has also extended a provision to cut back export obligations in line with the decline in exports.

Export incentives for stuff like technical textiles, stapling machine and handmade carpets have been provided within the recently announced export stimulus package.