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The government Announces Relief Package For Exporters

After witnessing a large contraction in export orders for recent months, Indian micro, small and medium enterprises (MSMEs) the actual export sector will soon 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 certainly going to benefit the employment-intensive export sectors such as leather, gems & jewelery and materials.

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 service fees.

Measures like quick settlement of duty credit scrips 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 position.

In order market trade facilitation, federal government has also extended a provision minimize export obligations in line with the decline in exports.

Export incentives for things like technical textiles, stapling machine and handmade carpets are also provided during the recently announced export package deal.

The de-linking of grant of benefit under the job entitlement pass book (DEPB) scheme 1 other incentive that would help the MSME Registration Benefits in India 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 professional compensation in exports.

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