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Swifter Customs clearance for accredited Stakeholders in the global supply chain! India announces liberalised MSME AEO Package!   Recognising their critical contribution in supporting the economy especially during the present difficult times of Covid-19 pandemic, Central Board of Indirect Taxes & Customs (CBIC) has taken a new initiative to introduce its flagship, Liberalised MSME AEO Package for Micro Small and Medium Enterprises (MSMEs).   In order to attract MSMEs to become Authorised Economic Operators (AEOs) and avail the various benefits, the CBIC has relaxed the compliance criteria provided the MSMEs have a valid certificate from their line-Ministry.  The relaxed requirements allow MSMEs who have filed minimum 10 Customs clearance documents in one year and who have a clean compliance record over 2 years to apply for the scheme.  The documentary requirements have also been appreciably simplified. Another feature is that the CBIC commits to take a decision on an applicat

Efforts made under Make in India Promoted fairly Ease of Doing Business! Minister of State (Independent Charge) for Micro, Small and Medium Enterprises, Giriraj Singh has said that the value of MSME related products’ exported during 2017-18 has reached USD 147,390.08 million, as per the information received from Directorate General of Commercial Intelligence and Statistics (DGCIS). The revenue of exports of specified MSME had registered in 2016-17 was of US$ 137068.80 over the previous year 2015-16 of US$ 130768.70. Giriraj Singh further informed that the Government has taken several measures to enhance exports by MSMEs. These include efforts made under Make in India Programme, Promotion of Ease of Doing Business, improved availability of credit through MUDRA, Stand up India, schemes such as ‘Merchandise Exports from India Scheme’ (MEIS) for incentivising export of specified goods to specified markets and ‘Service Exports from India Scheme’ (SEIS) for increasing ex

GoI has taken several measures to improve competitiveness of Indian industry The growth of exports of products manufactured by MSME units has been 7.5%, during the financial year 2017-18. This was informed by Giriraj Singh, MoS (I/C) for the Ministry of MSME, in the Lok Sabha. The Minister further informed that the growth had been -5.9%, and 4.8% during 2015-16 and 2016-17 respectively.   Giriraj Singh added that as per the information received from Directorate General of Commercial Intelligence & Statistics, the value of exports of MSME related products have been USD 130768.70 Million, USD 137068.80 Million, USD 147390.08 Million, USD 78519.91 Million during the financial year 2015-16, 2016-17, 2017-18 and 2018-19 (till September, 2018), respectively. He also stated that the Government of India has taken several measures to improve competitiveness of Indian industry and to boost exports. These include efforts taken under National Manufacturing Competitiveness Pro