The government Announces Relief Package For Exporters

After witnessing a large contraction in export orders for recent months, Indian micro, small and medium enterprises (MSMEs) the actual export sector will quickly 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 give relief to the export segment. This move is gonna benefit the employment-intensive export sectors while 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 expenditure.

Measures like quick settlement of duty credit scrips to be issued ahead of 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 scale back export obligations in line with the decline in exports.

Export incentives for such things technical textiles, stapling machine and handmade carpets have also been provided during the recently announced export package deal.

The de-linking of grant of benefit under the job entitlement pass book (DEPB) scheme an additional incentive that help the MSME export segment tide over the continued crisis.

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

Export incentives for models like technical textiles, stapling machine and handmade carpets are also provided contained in the recently announced export package deal.