India - MSMEs to majorly benefit from merchandise exports schemes: MoS Commerce Patel
Date
2/10/2022 2:15:09 PM
(MENAFN- KNN India)
MSMEs to majorly benefit from merchandise exports schemes: MoS Commerce Patel
New Delhi, Feb 10 (KNN) The benefits of various merchandise exports schemes would be disbursed to more than 45,000 exporters, out of which the majority would be in the micro, small and medium enterprises (MSME) category, said Anupriya Patel, Minister of State for Commerce and industry in Parliament.
Clearance of dues under these schemes is dependent on meeting the eligibility criteria by the applicant exporter, whose applications are scrutinised for any deficiency, she said.
In order to clear pending export incentive dues to exporters the government has released Rs 56,027 crore, she said responding to a question on export dues.
She also informed the Parliament that India is in discussion with the 10-nation bloc ASEAN for initiating the review of the free-trade agreement in goods between the two regions to seek more market access for domestic products.
'The Government of India is in discussion with ASEAN countries for initiating the review of ASEAN-India trade in goods agreement to seek more market access for Indian products,' she said in a written reply to the Lok Sabha.
Further she pointed out the adverse impact textile and apparel export growth has been facing due to COVID-19 pandemic and higher import tariffs in key markets such as the European Union and the United Kingdom as compared to zero duty access in these countries to competing countries like Bangladesh and Cambodia. (KNN Bureau)
MENAFN10022022000155011030ID1103675631
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.