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Exporters raise high input costs, pending export refunds with Piyush Goyal SECTIONS Share Synopsis At a meeting with export promotion councils, issues related to high input costs due to rising prices of steel and plastics, release of pending refunds under export incentives and extension of interest subvention scheme for one year. PTI Commerce and industry minister Piyush Goyal on Tuesday said that India’s merchandise exports can reach $400 billion in FY22 as there is a large potential for enhancing exports in several sectors like pharma, engineering, auto-component, fisheries and agro-prod...

Connected Car M2M Connections and Service Market Connected cars are equipped with Internet and wireless services that help the cars connect with networks or services. M2M connections are established between two electronic or mechanical devices for automated data transmission. A connected car M2M connection refers to the automated wireless data transmission between a car and another vehicle, an OEM, third-party service providers, enterprises, Internet-capable devices, or an infrastructure. This report elaborates the market size, market characteristics, and market growth of the Connected Car M...

Exports seek benefits under SEIS as pandemic crushes revival of key services SECTIONS Share Synopsis 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. Getty Images 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 ...

Synopsis The scheme is touted as a replacement for the Service Export from India Scheme and is on the same lines as Remission of Duties and Taxes on Exported Products (RoDTEP) for goods exports. iStock Aimed at refunding taxes already paid back to services exporters, DRESS is proposed to include all service exports created in India and exported from the country in modes 1 and 2 of service delivery. NEW DELHI: Ahead of the new foreign trade policy, industy has proposed a new incentive scheme for services exports that would give higher benefits to exporters in the MSME sector. The Services Exp...

Travel sector seeks tax cuts, incentives Premium According to industry estimates, travel and tourism sector has accrued losses to the tune of ₹90, 000 crore. 2 min read Share Via Read Full Story The travel and tourism industry, which is reeling under the impact of the covid-19 pandemic without any stimulus package, has urged the government to provide concessions and incentives ahead of the Union Budget on 1 February. The Indian Association of Tour Operators (IATO), which represents more than 1,600 operators for inbound tourists, has asked the government to exempt the tourism sector from th...