The government Announces Relief Package For Exporters

After witnessing a definite contraction Udyog Aadhaar Registration in India export orders for the past few months, Indian micro, small and medium enterprises (MSMEs) within 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 produce relief to the export segment. This move is likely to benefit the employment-intensive export sectors since leather, gems & jewelery and fabrics.

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 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 exchange strikes.

In order to promote trade facilitation, brand new has also extended a provision to relieve export obligations by the decline in exports.

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

The de-linking of grant of benefit under the job entitlement pass book (DEPB) scheme 1 other 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 cut down 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 in the recently announced export stimulus package.