The government 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) within export sector has decided to 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 gonna 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 are simplified to help MSME exporters prune high transaction costs.

Measures like quick settlement of duty credit scrips for Udyog Aadhar Registration Online you to become issued ahead of this realization of export proceeds and extension of scrips for import of even restricted items after payment of duty is expected to facilitate greater promote.

In order market trade facilitation, federal government has also extended a provision to relieve export obligations dependant upon the decline in exports.

Export incentives for goods like technical textiles, stapling machine and handmade carpets were also provided contained in the recently announced export stimulus package.

The de-linking of grant of benefit under the obligation entitlement pass book (DEPB) scheme is another incentive that would help the MSME export segment tide over the crisis.

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

Export incentives for stuff like technical textiles, stapling machine and handmade carpets were also provided as part of the recently announced export package deal.