The government Announces Relief Package For Exporters

After witnessing a giant contraction in export orders for recent years months, Indian micro, small and medium enterprises (MSMEs) in the 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 to relief to the export segment. This move is certainly going to benefit the employment-intensive export sectors for instance 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 offers.

Measures like quick settlement of duty credit scrips turn out to be issued ahead from the realization of export proceeds and extension of scrips for import of even restricted items after payment of duty is expected to facilitate greater position.

In order to advertise trade facilitation, federal government has also extended a provision to scale back export obligations using the decline in exports.

Export incentives for such things technical textiles, stapling machine and handmade carpets were also provided contained in 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 crisis.

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

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