Coimbatore, Dec. 6
Welcoming the mid-term review of foreign trade policy by the Union Ministry of Commerce and Industry, the Indian Chamber of Commerce and Industry (ICCI), Coimbatore, said it was a positive move made by the Centre for 2015-2020.
"The policy contains several positive features: the trust-based approach as reflected in the new self- ratification scheme for duty-free import of raw materials will greatly help in expediting export of a number of important products like engineering, textiles, chemicals and high-tech, etc. Additionally, the incentives worth Rs.8,450 crore package announced will boost exports of goods and services mainly from labour- intensive segments and the micro, small and medium enterprises, thereby increase employment generation and value addition", said an ICCI release.
"Features like GST rates on transfer / sale of scrips reduced to zero, E-wallet for exporters to be launched from April 1, 2018, services export incentive scheme incentives increased by 2 per cent for select sectors and validity of scrips under the incentive schemes increased from 18 months to 24 months are appreciable," it added.
Welcoming the mid-term review of foreign trade policy by the Union Ministry of Commerce and Industry, the Indian Chamber of Commerce and Industry (ICCI), Coimbatore, said it was a positive move made by the Centre for 2015-2020.
"The policy contains several positive features: the trust-based approach as reflected in the new self- ratification scheme for duty-free import of raw materials will greatly help in expediting export of a number of important products like engineering, textiles, chemicals and high-tech, etc. Additionally, the incentives worth Rs.8,450 crore package announced will boost exports of goods and services mainly from labour- intensive segments and the micro, small and medium enterprises, thereby increase employment generation and value addition", said an ICCI release.
"Features like GST rates on transfer / sale of scrips reduced to zero, E-wallet for exporters to be launched from April 1, 2018, services export incentive scheme incentives increased by 2 per cent for select sectors and validity of scrips under the incentive schemes increased from 18 months to 24 months are appreciable," it added.