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) in the export sector will receive much needed relief.

In an strive to reduce the economic pressure, the United Progressive Alliance (UPA) led government recently unveiled a special package worth Rs 325 crore in order to supply relief to the export segment. This move is going to 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 have been simplified to help MSME exporters prune high transaction offers.

Measures like quick settlement of duty credit scrips for you to become 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 switch.

In order market trade facilitation, brand new has also extended a provision to reduce export obligations dependant upon the decline in exports.

Export incentives for things such as technical textiles, stapling machine and handmade carpets have been provided within 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 may help the MSME export segment tide over the continued crisis.

SSI Online Registration Form in India order to promote trade facilitation, the government has also extended a provision to reduce export obligations in line with professional compensation in exports.

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

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