Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Enhancement of turnover limit of MSME sector to help exporters.


Date: 02-06-2020
Subject: Enhancement of turnover limit of MSME sector to help exporters
The government’s decision to increase the turnover limit for medium units from Rs 100 crore to Rs 250 crore will help infuse technology and promote automation in certain sectors and boost outbound shipments, according to exporters.

Federation of Indian Export Organisations (FIEO) President Sharad Kumar Saraf said that exclusion of exports turnover from total turnover will help in internationalisation of MSMEs and will bring their focus on exports.

“This will also benefit a lot of gems and jewellery companies, who would have breached the MSME criteria due to sheer cost of their inputs,” he said in a statement.

The cabinet on Monday approved further increasing the limit for medium manufacturing and service units to Rs 50 crore of investment and Rs 250 crore of turnover.

The turnover with respect to exports will not be counted in the limits of turnover for any category of MSME units whether micro, small or medium.

“The move is most pragmatic and will also infuse technology as in certain sectors margins are so low that enhancement in investment in plant and machinery would not have been of much use unless accompanied by increase in turnover limit to Rs 250 crore.

Such a move will also bring automation of certain processes which are required for competitive manufacturing,” he added. Hailing the decisions on MSME sector, financial advisory firm Findoc Group MD Hemant Sood said that MSMEs are the backbone of the Indian economy and the highest employer of skilled labour.

“The decision by the government to allow listing of MSMEs will help them in longer term and become a growth engine for their revival,” Sood said.

Apparel Export Promotion Council (AEPC) Chairman A Sakthivel also said that as the exporters’ turnover depends upon the foreign exchange rates and since rupee value has continuously weakened for the last 10 years, the council had requested the government to remove the turnover criterion for defining MSMEs in the exports sector.

“Today’s decision will propel India’s exports and strengthen the MSME sector, which is the key to India becoming self-reliant. Further, the decisions to allow MSMEs get listed and the provision of distressed asset fund for MSMEs will give a major stimulus to the sector, job generation and revival of the economy,” Sakthivel said.

Source:- financialexpress.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 17-09-2020
Notification No. 45/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 17-09-2020
Notification No. 88/2020 - Customs (N.T.)
Exchange Rate Notification No.88/2020-Cus (NT) dated 17.09.2020

Date: 17-09-2020
Notification No. 34/2020-Customs
Seeks to further amend notification No. 50/2017-Customs dated 30.06.2017 so as to reduce the Basic Customs Duty on Lentils (Mosur) for the period from 18th September, 2020 to 31st October, 2020.

Date: 14-09-2020
Notification No. 44/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 10-09-2020
Notification No. 43/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 09-09-2020
Notification No. 86/2020-Customs (N.T.)
Appointment of CAA in case of M/s Esprit Overseas

Date: 07-09-2020
Notification No. 33/2020–Customs
Seeks to amend notification No. 50/2017-Customs, dated 30.06.2017 so as to exempt BCD on paper based taggants, including M-Feature.

Date: 04-09-2020
Notification No.85/2020-C
Notification No.85/2020-Customs (N.T.) dated 04.09.2020 to amend Notification No.92/2017 -Customs(N.T.) dated 28.09.2017.

Date: 03-09-2020
Notification No. 84/2020 - Customs (N.T.)
Exchange Rates Notification No.84/2020-Custom (NT) dated 03.09.2020

Date: 03-09-2020
Notification No. 41/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001