Relief to exporters : Centre lowers export obligation for 192 product underneath key

In a relief to exporters, the govt on Th reduced the export obligation beneath a key incentive program for 192 product whose exports declined over 5% on-year in FY22.

These products embrace bound sorts of silver, precious metals and concentrates, revolvers and pistols, carpus watches, citrus fruits and a few textiles.

“This implies that the sector/product cluster that witnessed such decline in 2021-22 as compared to 2020-21 would be entitled for such relief,” the DGFT said.

Spices admire ginger and turmeric, woven cotton fabrics, cheese and curd, paint varnishes, garments, and tomatoes also are among the products known for the relief.

India’s merchandise exports acquiring a pointy 16.65% to $29.78 billion in October with key sectors admire rock oil products, engineering product and textiles. India’s goods exports in FY22 were $422 billion as against $291.8 billion in FY21.