The government Announces Relief Package For Exporters

After witnessing a giant contraction in export orders for recent years months, Indian micro, small and medium enterprises (MSMEs) within export sector will receive much needed relief.

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

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

Measures like quick settlement of duty credit scrips for you to become issued ahead belonging to the realization of export proceeds and extension of scrips for import of even restricted items after payment of duty is expected to facilitate greater trade.

In order encourage trade facilitation, the government has also extended a provision to relieve export obligations depending on the decline in exports.

Export incentives for things like technical textiles, stapling machine and handmade carpets are also provided during the recently announced export stimulus package.

The de-linking of grant of benefit under the obligation entitlement pass book (DEPB) scheme 1 other incentive that help the MSME Udyog Aadhaar Registration in India export segment tide over the crisis.

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

Export incentives for such things as technical textiles, stapling machine and handmade carpets were also provided in the recently announced export package deal.