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CHEMEXCIL
Basic Chemicals, Cosmetics & Dyes Export Promotion Council
(Set-up by Ministry of Commerce and Industry, Govt of India)
Jhansi Castle, 4th floor, 7-Cooperage Road, Mumbai – 400 001.
Tel : 91-22-22021288, 22021330 Fax : 91-22-22026684.
E-mail : info@chemexcil.in
Website : http://www.chemexcil.in
EPC/LIC/DOC 13th Sept 2021
TO
ALL THE MEMBERS OF THE COUNCIL
Very Imp.
Government Provides Big Boost to Exporters- Rs. 56,027 crore is going to be
released under various Export Promotion Schemes
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Dear Members,
As per Press Release of Ministry of Commerce & Industry dated 9th Sept 2021, we are glad to inform you that Government has provided Big Boost to Exporters whereby Rs. 56,027 crore is going to be released under various Export Promotion Schemes.
We understand that Benefits would be disbursed to more than 45,000 exporters, out of which about 98% are small exporters in the MSME category.
Government of India has decided to budget Rs 56,027 crore in this Financial Year FY 21-22 itself in order to disburse all pending export incentives due to exporters. This amount includes claims relating to MEIS, SEIS, RoSL, RoSCTL, other scrip based schemes relating to earlier policies and the remission support for RoDTEP and RoSCTL for exports made in the 4th quarter of FY 20-21. Benefits would be disbursed to more than 45,000 exporters, out of which about 98% are small exporters in the MSME category.
The amount of Rs 56,027 crores of arrears is for different export promotion and remission schemes: MEIS (Rs 33,010 crore), SEIS (Rs 10,002 crore), RoSCTL (Rs 5,286 cr), RoSL (Rs 330 crore), RoDTEP (Rs 2,568 crore), other legacy Schemes like Target Plus etc (Rs 4,831 crore). This amount is over and above duty remission amount of Rs 12,454 crore for the RoDTEP scheme and Rs 6,946 crore for RoSCTL scheme already announced for exports made in this year i.e. FY 2021-22.
Exports in India have seen robust growth in recent months. Merchandise exports for April-August, 2021 was nearly $164 billion, which is an increase of 67% over 2020-21 and 23% over 2019-20. This decision to clear all pending export incentives within this financial year, will lead to even more rapid export growth in coming months.
The allocation of Rs. 33,010 cr for MEIS is a very positive development for Chemical sector also which will entail clearance of MEIS pendency’s which has been a cause for concern.
We wholeheartedly thank the government for this support which will boost competiveness of exporters in these difficult times.
Export claims relating to earlier years will need to be filed by the exporters by 31st December 2021 beyond which they will become time barred. The Online IT portal will be enabled shortly to accept MEIS and other scrip based applications and would be integrated with a robust mechanism set up by Ministry of Finance to monitor provisioning and disbursement of the export incentives under a budgetary framework.
Benefits would help such sectors to maintain cash flows and meet export demand in international market, which is recovering fast this financial year.
Members are requested to take note of the this Press release and may do the needful once online module for MEIS activated . For full details, you may check the press release on below link-
https://pib.gov.in/PressReleasePage.aspx?PRID=1753551
Feed-backs, if any, may also be sent to us on email id's: dg@chemexcil.in & pw@chemexcil.in for records/ further deliberations, if required.
Thanking you,
Yours faithfully
Deepak Gupta
Acting Executive Director
CHEMEXCIL
encl : Export Shemes Allocation
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