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

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

Measures like quick settlement of duty credit scrips turn out to be issued ahead belonging to 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 to promote trade facilitation, Udyog Aadhaar Registration Form Online the government has also extended a provision minimize export obligations depending on the decline in exports.

Export incentives for such things technical textiles, stapling machine and handmade carpets seemed to be provided during the recently announced export package deal.

The de-linking of grant of benefit under the position entitlement pass book (DEPB) scheme one more incentive yard 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 decrease in exports.

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