After witnessing a definite contraction in export orders for recent years months, Indian micro, small and medium enterprises (MSMEs) ultimately export sector will receive much needed relief.

In an attempt to 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 going to benefit the employment-intensive export sectors for instance leather, gems & jewelery and sheets.

Under the new package, procedural formalities for claiming duty drawback refund and refund of terminal excise duty already been simplified to help MSME exporters prune high transaction costs.

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 trade.

In order market trade facilitation, federal government has also extended a provision to reduce export obligations by the decline in exports.

Export incentives for such things technical textiles, stapling machine and handmade carpets were also provided during the recently announced export stimulus package.

The de-linking of grant of benefit under the duty entitlement pass book (DEPB) scheme an additional incentive yard help the MSME export segment tide over the continued crisis.

In order to promote trade facilitation, the government has also extended a provision to reduce export obligations Udyog Aadhaar Registration in India line with decrease in exports.

Export incentives for models like technical textiles, stapling machine and handmade carpets were also provided as part of the recently announced export package deal.

Federal government Announces Relief Package For Exporters

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