These taxes include value added tax (VAT), electricity duties and fuel used for transportation, which are not exempt or refunded under any other existing mechanism.
Budget 2020: Govt likely to restore 2% additional duty incentive on mobile phones export; notification may be issued soon
The India Cellular and Electronics Association (ICEA) had written to the government expressing disappointment on the reduction of the incentive, saying it will lead to massive job losses.
India’s exports have been stagnating for over half a decade now and exports in the current year (April-July) are running at a hugely modest 3.1% above the same period last year.
The current policy will end in March 2020. The new five-year foreign trade policy (2020-25) is expected to be released in September this year
Integrated gold policy likely soon; govt to promote growth of yellow metal industry, jewellery exports, says Suresh Prabhu
In February, Finance Minister Arun Jaitley announced formulation of a comprehensive gold policy to develop gold as an asset class.
The government is re-designing the export benefit scheme MEIS to make it GST-compliant, says Neeraj Prasad
The textile sector has been granted duty scrips of 2 per cent only for mainstream cotton textile products
Indeed, like all great-sounding policies, this forward looking Foreign Trade Policy could also trip up on the implementation front
Modi's Make in India programme seems to be the backbone of the trade policy