Govt may relax EPCG provisions for exporters in FTP
Commerce Minister Anand Sharma is likely to scrap the unwanted paperwork to reduce transaction costs for exporters while unveiling the new Foreign Trade Policy (FTP). However, as most of the capital goods are levied a basic customs duty of 7.5%, the duty under the Export Promotion Capital Goods (EPCG) scheme is 3%, leaving less room [...]
Sharp fall in Indian exports arrested, says Minister
The sharp fall in Indian exports seems to have been arrested despite of the fact that there was no sign of recovery in the global economic scenario, the government on July 27 said in the Lok Sabha. This is on account of various measures taken by the government that includes two stimulus packages as well [...]
Textile exporters may get input duty relief
The textile sector, which was hit badly by the ongoing slump in demand in the Western markets, can look forward to some additional sops in the forthcoming foreign trade policy. The government is considering increasing the input duty reimbursement given to textile exporters, a commerce department official has said. The Union Budget announced earlier this [...]
Commerce Ministry wants Finmin to take up exporters” issue
The Finance Ministry was asked to take up the matter of refunding local levies like octroi and mandi tax to exporters by the Ministry of Commerce in the next meeting of the Empowered Committee of State Finance Ministers which is due next month. In the backdrop of global economic downturn, the exporters have been facing [...]
Share of manufacturing in exports declines by 18%: Assocham
The share of manufactured goods in India”s exports dipped to 63 percent in 2008-09 from 81 percent in 1999-2000, according to the report by the Associated Chambers of Commerce and Industry (Assocham) released here on Monday. However, India”s project exports grew more than 25 percent during the same period, the report said. The manufacturing exports [...]