India Is About To Implement New Export Stimulus Policies

2010/8/19 9:49:00 77

According to India media reports,

Europe and America

In the face of declining market demand, the government of India plans to provide new export incentives for leather products, hand-made products, carpets and some engineering equipment to help India export enterprises expand exports.

Earlier, the export stimulus policy introduced during the financial crisis expired in March 31, 2010.

India's minister of Commerce and trade, Sharma mud, announced new exports at the August 23rd Annual Review Conference on foreign trade policy.

policy

It includes 2% of the value of exports for specific commodities in specific areas of export.

duty-free

Vouchers, etc.

However, due to the large export volume of the textile industry, the government did not decide whether the textile industry could use the new policy.

Export stimulus policies will further simplify export procedures and allow more exporters to "self verify".

At present, only some large exporters in some industries can use the policy to verify the export commodities without having to accept the certification of customs officials.

The study of the Federation of India export organizations points out that trade costs account for 7% of the total cost of exporters, and that simplified procedures and cost reduction will bring 5 billion dollars to exporters.

In the first fiscal year of 2010, India's exports increased by 32% over the same period last year, to US $50 billion 700 million, but exports of handicrafts, leather products and carpets remained low.