Federal government Announces Relief Package For Exporters

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

In an attempt to 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 since leather, gems & jewelery and materials.

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 service fees.

Measures like quick settlement of duty credit scrips for 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 switch.

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

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

The de-linking of grant of benefit under the work entitlement pass book (DEPB) scheme 1 other incentive that may help the MSME export segment tide over the crisis.

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

Export incentives for such things technical textiles, stapling machine and handmade carpets are also provided contained SSI Online Registration in India the recently announced export stimulus package.