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        Case ID :

        Incentive Programmes for Exports

        August 9, 2017

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        The names of the countries implementing incentive programmes for exports and details of incentive packages given by such countries are tabulated as under:

        S. No.

        Name of the country

        Name of the incentive programmes

        Details of incentive packages

        1.

        2.

        U.S.A

        EU

        Generalized System of Preferences (GSP)

        This promotes economic growth in the developing countries and least developed countries. Preferential duty free treatment is provided for about 30-40% products of designated beneficiary developing countries. India is also one of the beneficiary developing country.

        Reserve Bank of India makes the assessment for devaluation of currency considering various factors like inflationary pressure on domestic economy etc. Devaluation may positively impact  exports at times, but policy of devaluation is managed by RBI on other considerations as well.

        This information was given by the Commerce and Industry Minister  Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today

        Generalized System of Preferences extends preferential duty-free access to beneficiary developing countries, aiding export growth while currency policy affects competitiveness. The document notes the Generalized System of Preferences (GSP) used by the U.S.A. and the EU to grant preferential duty free treatment to designated beneficiary developing countries, including India, to promote export growth. It also states that the Reserve Bank of India assesses currency devaluation-considering inflation and other macroeconomic factors-which may affect export competitiveness, and that this information was given by the Commerce and Industry Minister in a parliamentary written reply.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Generalized System of Preferences extends preferential duty-free access to beneficiary developing countries, aiding export growth while currency policy affects competitiveness.

                                The document notes the Generalized System of Preferences (GSP) used by the U.S.A. and the EU to grant preferential duty free treatment to designated beneficiary developing countries, including India, to promote export growth. It also states that the Reserve Bank of India assesses currency devaluation-considering inflation and other macroeconomic factors-which may affect export competitiveness, and that this information was given by the Commerce and Industry Minister in a parliamentary written reply.





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                                ActsIncome Tax
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