{"id":87501,"date":"2023-02-02T13:35:00","date_gmt":"2023-02-02T08:05:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=87501"},"modified":"2023-02-02T13:33:53","modified_gmt":"2023-02-02T08:03:53","slug":"biz-bud-exports","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-bud-exports\/","title":{"rendered":"Cut in customs duty, support to MSMEs in Budget to help boost mfg, exports: Exporters"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2775158733\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The announcements for tweaking customs duties in certain sectors and measures to support MSMEs will help in boosting domestic manufacturing and the country&#8217;s outbound shipments, exporters said on Thursday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-88636795\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Increase in capital investment outlay by 33 per cent to Rs 10 lakh crore, 50 years interest free loan to states to incentivise infrastructure investment, highest-ever capital outlay for railways, several infrastructure projects in port, coal, steel will have a multiplier effect on economy and employment, they said.<\/p><p>Federation of Indian Export Organisations (FIEO) President A Sakthivel said that many of the changes in the customs duties will help to provide competitiveness to manufacturing and exports, besides attempting imports substitution.<\/p><p>The reduction in duty on denatured ethyl alcohol and crude glycerine will help the downstream users in the chemical sector, the cut in duty on key inputs for producing shrimp feed will help the marine exports as will be the drop in duty on seeds for manufacturing lab-grown diamonds and R&amp;D grant for the same to facilitate gems and jewellery exports, Shakthivel said.<\/p><div class=\"trade-content_5\" id=\"trade-1968579581\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Sharing similar views, Sanjay Budhia Chairman \u2013 CII National Committee on Exports and Imports and managing director PATTON Group said that the announcement of reduction in custom&#8217;s duty for select sectors shall improve India&#8217;s participation in global value chain (GVC).<\/p><p>&#8220;There are quite a few changes in the customs duties that would improve competitiveness in manufacturing and exports. The cut in customs duty on the import of certain important sectors like inputs for mobile phone manufacturing would help in boosting value added exports,&#8221; Budhia said.<\/p><p>He added that even while the global economy slows down, measures like this would help India continue to stand in a sweet spot and to build its exports in days to come.<\/p><p>&#8220;The announcement of establishing a subsidiary of Exim Bank for Trade refinancing would hugely help to address the concern of access to finance for exporters due to slow uptake of credit,&#8221; Budhia added.<\/p><p>Yogesh Gupta, Regional Chairman, FIEO Eastern Region too said that revamping the credit guarantee scheme by infusing Rs 9,000 crore and reduction of 1 per cent interest for MSME will help exporters.<\/p><p>&#8220;Reduction of import duty on inputs will also make exports of finished goods more competitive. Reducing import duty on shrimp feed will give a huge boost to the Eastern region marine product exporters,&#8221; Gupta said.<\/p><div class=\"trade-content-10\" id=\"trade-1414353023\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Lakshmi Venkataraman Venkatesan, Founding and managing trustee of BYST, said that the outlay of Rs 9,000 crore for credit guarantee scheme is a welcome move and this should hopefully help banks to be more willing to lend larger amounts in the form of business loans. PTI RR DRR<\/p><div class=\"trade-after-content\" id=\"trade-3499812091\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The announcements for tweaking customs duties in certain sectors and measures to support MSMEs will help in boosting domestic manufacturing and the country&#8217;s outbound shipments, exporters said on Thursday. Increase in capital investment outlay by 33 per cent to Rs 10 lakh crore, 50 years interest free loan to states to incentivise infrastructure investment, highest-ever [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":14758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-87501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cut in customs duty, support to MSMEs in Budget to help boost mfg, exports: Exporters - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The announcements for tweaking customs duties in certain sectors and measures to support MSMEs will help in boosting domestic manufacturing and the country&#039;s outbound shipments, exporters said on Thursday.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-bud-exports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cut in customs duty, support to MSMEs in Budget to help boost mfg, exports: Exporters\" \/>\n<meta property=\"og:description\" content=\"The announcements for tweaking customs duties in certain sectors and measures to support MSMEs will help in boosting domestic manufacturing and the country&#039;s outbound shipments, exporters said on Thursday.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/biz-bud-exports\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-02T08:05:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/Exports-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/Exports-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-bud-exports\/\",\"url\":\"https:\/\/tradebrains.in\/features\/biz-bud-exports\/\",\"name\":\"Cut in customs duty, support to MSMEs in Budget to help boost mfg, exports: Exporters - Trade Brains Features\",\"isPartOf\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/tradebrains.in\/features\/biz-bud-exports\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/tradebrains.in\/features\/biz-bud-exports\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/Exports-Cover-Image.jpg\",\"datePublished\":\"2023-02-02T08:05:00+00:00\",\"author\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3\"},\"description\":\"The announcements for tweaking customs duties in certain sectors and measures to support MSMEs will help in boosting domestic manufacturing and the country's outbound shipments, exporters said on Thursday.\",\"breadcrumb\":{\"@id\":\"https:\/\/tradebrains.in\/features\/biz-bud-exports\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/tradebrains.in\/features\/biz-bud-exports\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-bud-exports\/#primaryimage\",\"url\":\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/Exports-Cover-Image.jpg\",\"contentUrl\":\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/Exports-Cover-Image.jpg\",\"width\":1280,\"height\":854},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-bud-exports\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/tradebrains.in\/features\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cut in customs duty, support to MSMEs in Budget to help boost mfg, exports: Exporters\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/tradebrains.in\/features\/#website\",\"url\":\"https:\/\/tradebrains.in\/features\/\",\"name\":\"Trade Brains\",\"description\":\"Stock Market NSE\/BSE Latest News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/tradebrains.in\/features\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3\",\"name\":\"PTI News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g\",\"caption\":\"PTI News\"},\"url\":\"https:\/\/tradebrains.in\/features\/author\/ptinews\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Cut in customs duty, support to MSMEs in Budget to help boost mfg, exports: Exporters - Trade Brains Features","description":"The announcements for tweaking customs duties in certain sectors and measures to support MSMEs will help in boosting domestic manufacturing and the country's outbound shipments, exporters said on Thursday.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/tradebrains.in\/features\/biz-bud-exports\/","og_locale":"en_US","og_type":"article","og_title":"Cut in customs duty, support to MSMEs in Budget to help boost mfg, exports: Exporters","og_description":"The announcements for tweaking customs duties in certain sectors and measures to support MSMEs will help in boosting domestic manufacturing and the country's outbound shipments, exporters said on Thursday.","og_url":"https:\/\/tradebrains.in\/features\/biz-bud-exports\/","og_site_name":"Trade Brains Features","article_publisher":"https:\/\/www.facebook.com\/TradeBrainsOfficial\/","article_published_time":"2023-02-02T08:05:00+00:00","og_image":[{"width":1280,"height":854,"url":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/Exports-Cover-Image.jpg","type":"image\/jpeg"}],"author":"PTI News","twitter_card":"summary_large_image","twitter_image":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/Exports-Cover-Image.jpg","twitter_creator":"@TradeBrainsGrp","twitter_site":"@TradeBrainsGrp","twitter_misc":{"Written by":"PTI News","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/tradebrains.in\/features\/biz-bud-exports\/","url":"https:\/\/tradebrains.in\/features\/biz-bud-exports\/","name":"Cut in customs duty, support to MSMEs in Budget to help boost mfg, exports: Exporters - Trade Brains Features","isPartOf":{"@id":"https:\/\/tradebrains.in\/features\/#website"},"primaryImageOfPage":{"@id":"https:\/\/tradebrains.in\/features\/biz-bud-exports\/#primaryimage"},"image":{"@id":"https:\/\/tradebrains.in\/features\/biz-bud-exports\/#primaryimage"},"thumbnailUrl":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/Exports-Cover-Image.jpg","datePublished":"2023-02-02T08:05:00+00:00","author":{"@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3"},"description":"The announcements for tweaking customs duties in certain sectors and measures to support MSMEs will help in boosting domestic manufacturing and the country's outbound shipments, exporters said on Thursday.","breadcrumb":{"@id":"https:\/\/tradebrains.in\/features\/biz-bud-exports\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/tradebrains.in\/features\/biz-bud-exports\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/tradebrains.in\/features\/biz-bud-exports\/#primaryimage","url":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/Exports-Cover-Image.jpg","contentUrl":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/Exports-Cover-Image.jpg","width":1280,"height":854},{"@type":"BreadcrumbList","@id":"https:\/\/tradebrains.in\/features\/biz-bud-exports\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/tradebrains.in\/features\/"},{"@type":"ListItem","position":2,"name":"Cut in customs duty, support to MSMEs in Budget to help boost mfg, exports: Exporters"}]},{"@type":"WebSite","@id":"https:\/\/tradebrains.in\/features\/#website","url":"https:\/\/tradebrains.in\/features\/","name":"Trade Brains","description":"Stock Market NSE\/BSE Latest News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/tradebrains.in\/features\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3","name":"PTI News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g","caption":"PTI News"},"url":"https:\/\/tradebrains.in\/features\/author\/ptinews\/"}]}},"_links":{"self":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/87501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/comments?post=87501"}],"version-history":[{"count":2,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/87501\/revisions"}],"predecessor-version":[{"id":87508,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/87501\/revisions\/87508"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/media\/14758"}],"wp:attachment":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/media?parent=87501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/categories?post=87501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/tags?post=87501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}