After witnessing a great contraction in export orders for recent months, Indian micro, small and medium enterprises (MSMEs) within export sector will quickly receive much needed relief.
In an attempt 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 likely to benefit the employment-intensive export sectors while leather, gems & jewelery and linens.
Under the new package, procedural formalities for claiming duty drawback refund and refund of terminal excise duty already been simplified to help MSME Registration Fees in India exporters prune high transaction expenditure.
Measures like quick settlement of duty credit scrips for you to become 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 exchange strikes.
In order to advertise trade facilitation, brand new has also extended a provision to scale back export obligations in line with the decline in exports.
Export incentives for things such as technical textiles, stapling machine and handmade carpets have also been provided contained in the recently announced export stimulus package.
The de-linking of grant of benefit under the job entitlement pass book (DEPB) scheme one more incentive that would help the MSME export segment tide over the continuing crisis.
In order to promote trade facilitation, the government has also extended a provision to cut back export obligations in line with the decline in exports.
Export incentives for stuff like technical textiles, stapling machine and handmade carpets have also been provided within the recently announced export package deal.