Govt supports export industry to address corona woes

On Saturday, the Ministry of Commerce & Industry stated that it has taken several measures to address hardships faced by exporters due to the coronavirus pandemic.

These steps include extending foreign trade policy by one year, export obligation under advance authorisation and export promotion capital goods scheme, the validity of registration cum membership certificate, lasts date for filing claims under services and goods export from India schemes, for filing RoSCTL (rebate o state and central taxes and levies) claims, valid period of all status holder certificates, and replenishment scheme for gems and jewellery. Extensions have been given to SEZs filing quarterly progress report, annual performance reports, and permission to take desktop/laptop outside SEZs by IT and non IT units. 

Meanwhile, the Export Credit Guarantee Corporation too  extended the time for filing declarations, report of default, filing claims/replies, reduction in policy proposal processing fee, discretion to decide about shipments and claim eligibility period.

This statement came a day after an apex exporters body warned of 15 million job losses, unless an immediate incentive package is announced by the government.