Goodbye, export sops
The government is all set to withdraw the concessions extended to embattled exporters last year in the wake of the rising rupee.
The government is all set to withdraw the concessions extended to embattled exporters last year in the wake of the rising rupee. The Commerce Ministry feels that the ground reality has completely changed with the rupee depreciating almost 10 per cent against the dollar so far this financial year.
Also read: |
However, exporters will be given a two-month notice period to adjust their longterm export contracts. The sops given to exporters included enhanced duty drawback and DEPB rates, which will now be rolled back.
—Rishi Joshi
