Chennai (PTI): The Federation of Indian Export Organisations (FIEO) on Friday welcomed the Centre's measures aimed at helping exporters, saying they would lead to a cut in transaction costs and time.
"The procedures like re-credit of four per cent SAD under different authorisation and payment of duty in respect of restricted items would allow fuller utilisation of credit", FIEO President A.Sakthivel said these measures would help the exporters in reducing transaction costs and times.
Selvaraj also welcomed the extension in export obligation period from 24 months to 36 months for advance authorisation and carrying forward of export obligation of 2008-09 to 2009-10 under EPCG Scheme.
Stating that the special package of Rs 325 crore would help leather and textiles sector, he suggested that garment exports to US and European countries needs to be included in Special Focus Scheme as these markets were worst hit.
He said the electronic transfer facility for advance authorisation and EPCG would help in earlier closure of cases thereby saving on bank guarantee charges.
Source : The Hindu