Country's Exports rose 30.55 per cent to 26.19 billion USD in November on account of improved global demand, government incentives and simplification of GST refund process. The data released by the commerce ministry said Exports had witnessed a decline of 1.12 per cent to USD 23 billion in October this year, retreating from a six-month high growth rate in September. The data also revealed that imports too grew 19.61 per cent to 40 billion USD in November from 33.46 billion USD in the same month last year. November witnessed robust growth in outward shipments of gems and jewellery, engineering goods, chemical and pharmaceutical products. The government has simplified the process for exporters to claim refunds under the GST. Input Tax Credit and Integrated-GST refunds for exporters are being expedited for quick unlocking of their capital. Earlier this month, the government had announced Rs 8,450 crore incentives for exporters in sectors like leather and agriculture.
News On AIR | December 16, 2017 2:01 AM
Country's Exports rise 30.55pc to 26.19 billion USD in November