After witnessing a large contraction in export orders for the past few months, Indian micro, small and medium enterprises (MSMEs) ultimately export sector will soon receive much needed relief.
In an make 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 certainly 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 also been 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 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 to promote trade facilitation, brand new has also extended a provision minimize export obligations by the decline in exports.
Export incentives for goods like technical textiles, stapling machine and handmade carpets have been provided contained in the recently announced export package deal.
The de-linking of grant of benefit under the duty entitlement pass book (DEPB) scheme extra incentive that would help the MSME Online Registration in India export segment tide over the continuing crisis.
In order to promote trade facilitation, the government has also extended a provision to reduce export obligations in line with decrease in exports.
Export incentives for such things technical textiles, stapling machine and handmade carpets have also been provided within the recently announced export package deal.