India Inc Cheers Revised Foreign Trade Policy

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    To improve exports which have been for quiet sometime faltering after the GST implementation and pending refunds on taxes paid and ITC, the government in its FTP review on Tuesday introduced a slew of measures to boost up the ailing sector.

    India Inc Cheers Revised Foreign Trade Policy

    A grant to the tune of Rs. 8450 crore has been rolled out as incentive for exporters to boost the sentiment as well as create job opportunities.

    The scope of the various export promotion schemes has been enhanced.that finds favour with Indian corporate. "Mid-term review of the FTP 2015-20 contains several positive features. Ficci is happy to see across-the-board rise of 2 per cent in MEIS (Merchandise Exports from India Scheme) incentive for exports by MSMEs (Micro, Small & Medium Enterprises) and labour intensive sectors. This step was much-needed.", said FICCI Secretary General in an IANS report.

    Duty-free import of raw material shall help in promoting exports of some significant products including pharma, engineering, chemicals, high-tech products and textiles.

    Other than this steps have been addressed to increase footprint of India in other markets as well as devise an effective exchange rate management system to better trade.

    Despite this stimulus the repo rate in today's monetary policy meet is unlikely to see a downside due to rising inflation and crude oil price concerns.

    Story first published: Wednesday, December 6, 2017, 14:04 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more