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FM and textile minister suggest measures to enhance exports

To formulate the strategies for enhancing export in each sector and resolve the problems and challenges faced by the handicrafts sector, the Union finance minister Piyush Goyal and the textile ministry Smriti Irani have made certain suggestions.

These include: enhancing the list of essential embellishment, trimmings, tools and consumables to be imported duty free and exempting from payment of IGST on import of such items, inclusion of ‘merchant exporters’ in the list of exporters eligible for benefit of ‘interest equalisation scheme’, issuance of eBRC in case of exports of handicrafts to Iran, if issuance of eBRC is not done by the bank within stipulated time, banks to pay penalty to the exporters, scheme of ‘ Rebate of State Levies’ (ROSL) on exports of handicrafts, engagement of foreign designers in the handicrafts sector to be made easy, cap to be reduced, enhance allocation of funds under Market Access Initiative (MAI) and relaxation in operational guidelines for funding under the MAI Scheme to include markets of USA, Canada, EU, Japan, China and other developed markets for extending invitation to buyers to RBSM’s organised in India and blocking of working capital – Refund of ITC/ GST

 

 
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