TaxTMI 
TaxTMI 
Increase in Exports
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....ncrease in Exports <br>News and Press Release<br>Dated:- 3-2-2021<br><BR>The value of India's overall exports (merchandise and services) during first eight months of the current financial year, April-November 2020, was US$ 304.53 billion as compared to US$ 351.83 billion during same period of the previous year, showing a negative growth of 13.45%. During this period, India's overall exports were U....
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....S$ 44.87 billion in September 2020 as compared to US$ 43.56 billion in September 2019, showing a positive growth of 3%. Merchandise exports were US$ 27.1 billion in December 2020, showing a positive growth of 0.14 % as compared to the corresponding month of the previous year. Policy making is an ongoing exercise and steps are taken based on the prevailing economic scenario. The following are some....
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.... of the key steps taken by Government to increase exports: * Foreign Trade Policy (2015-20) extended by one year i.e. upto 31-3-2021 due to the COVID-19 pandemic situation. * Interest Equalization Scheme on pre and post shipment rupee export credit has also been extended by one year i.e. upto 31-3-2021. * A new Scheme, Remission of Duties and Taxes on Exported Products (RoDTEP), has been lau....
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....nched with effect from 01.01.2021. * Common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase FTA utilization by exporters. * A comprehensive "Agriculture Export Policy" to provide an impetus to agricultural exports related to agriculture, horticulture, animal husbandry, fisheries and food processing sectors is under implementation. * Promoting and....
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.... diversifying services exports by pursuing specific action plans for the 12 Champion Services Sectors. * Promoting districts as export hubs by identifying products with export potential in each district, addressing bottlenecks for exporting these products and supporting local exporters/manufacturers to generate employment in the district. * Active role of Indian missions abroad towards promoti....
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....ng India's trade, tourism, technology and investment goals has been enhanced. * Package announced in light of the covid pandemic to support domestic industry through various banking and financial sector relief measures, especially for MSMEs, which constitute a major share in exports. This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri Hardeep Singh....
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.... Puri, in a written reply in the Lok Sabha today.<BR> News - Press release - PIB....