After witnessing a great 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 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 gonna benefit the employment-intensive export sectors since leather, gems & jewelery and linens.

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 price.

Measures like quick settlement of duty credit scrips to be issued ahead of the realization of export proceeds and extension of scrips for import of even restricted items after payment of duty is expected to facilitate greater switch.

In order to promote trade facilitation, the government has also extended a provision to scale back export obligations dependant upon the decline Udyog Aadhaar Registration Online in India exports.

Export incentives for items like 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 an additional incentive a good-looking lawn help the MSME export segment tide over the continued crisis.

In order to promote trade facilitation, the government has also extended a provision limit export obligations in line with the decline in exports.

Export incentives for models like technical textiles, stapling machine and handmade carpets seemed to be provided in the recently announced export package deal.

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