Exports seek benefits under SEIS as pandemic crushes revival of key services
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The Services Export Promotion Council (SEPC) has also said that the recent surge in Covid-19 cases has depressed all the hopes of any revival of key sectors like travel and tourism, medical value tourism, education and aviation.
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Services exporters have urged the government to issue the release of benefits under the Service Export from India Scheme for 2019-20 amid a 73% decline in exports of travel and tourism from April, 2020-February, 2021 due to the pandemic. SEIS was launched in 2015 to boost services exports. It offers incentives of 5-7% of net foreign exchange earned.
Minister of Commerce and Industry Piyush Goyal assures support to Services Exporters ANI | Updated: Apr 23, 2021 17:45 IST
New Delhi [India], April 23 (ANI/PNN): The Hon ble Commerce and Industry Minister, Piyush Goyal held an export performance review meeting on April 20, and applauded the Export Promotion Councils for their respective sectors export performance.
Maneck Davar, Chairman, Services Export Promotion Council (SEPC), the only export promotion Council mandated to promote Services exports from India, highlighted the contribution of the services sector and the trade surplus in services despite the challenging times and negative growth (April 20 - Feb 2021) as per RBI data.
The services sector reeling under the massive disruptions caused by the COVID pandemic since last 2020 was hoping to show its resilience to bounce back strongly is now finding the clock turning back due to the recent surge of a far more aggressive covid wave.