Exports Of Handicrafts And Leather Goods In India Are Still Low.
To help exporters tide over the downturn in demand in the US and Europe, India intends to
Leatherwear
Products, handicrafts, carpets and some engineering equipment provide new export stimulation policies.
Earlier, the export expansion policy introduced during the financial crisis expired in March 31st this year.
According to reports, Sharma, Minister of Commerce and industry in India, is expected to announce a new policy of encouraging exports in the August 23rd Annual Review Conference on foreign trade policy, such as the specific sale to specific areas.
commodity
Provide tax exemption certificates worth 2% of export volume.
However, the Ministry of Commerce and industry has not yet made a decision on whether the textile industry will apply the new policy. Because of the huge export volume of the textile industry, the industry will take up a lot of government resources.
The report pointed out that the new policy will further simplify export procedures and allow more exporters to implement "self verification" (self-certification).
At present, only large exporters in some industries allow themselves to verify their exports without having to accept the certification of customs officials.
Transaction costs account for 7% of the total cost of exporters, according to a study by the India Federation of export organizations (FIEO). Simplified procedures and cost reduction policies will give exporters an economic gain of $5 billion.
In the first quarter of this year (4-6 months), India's exports increased by 32% to $50 billion 700 million over the same period, but handicrafts,
Leather products
Exports of carpets and other industries are still sluggish.
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