Govt working to make export promotion schemes effective in forthcoming foreign trade policy

NEW DELHI To give a push to India’s services exports, the government is working to make the export promotion schemes more effective in the forthcoming foreign trade policy. “What we are trying to do is to make it (Served from India scheme) more effective and also come up with some more ideas on services exports,” Commerce Secretary Rajeev Kher said on the sidelines of a services conclave organised by the commerce department and industry lobby CII.

The government is likely to expand scope of Served from India scheme by allowing exporters to trade their earned tax incentives in a bid to spur services exports. These incentives are in the form of duty credit scrips, which can be used to pay customs duty on input imports. As of now, these scrips are non-tradeable.