After witnessing a definite contraction in export orders for recent years months, Indian micro, small and medium enterprises (MSMEs) the actual export sector has decided to 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 to relief to the export segment. This move is gonna benefit the employment-intensive export sectors for instance leather, gems & jewelery and linens.
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 to be issued ahead on 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 promote trade facilitation, the government has also extended a provision to scale back export obligations by the decline in exports.
Export incentives for things 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 position entitlement pass book (DEPB) scheme an additional incentive yard help the MSME export segment tide over the ongoing crisis.
In order to promote trade facilitation, the government has also extended a provision to cut back export obligations in line with the decline SSI Certificate Online Registration in India exports.
Export incentives for items like technical textiles, stapling machine and handmade carpets have been provided within the recently announced export stimulus package.