Compensation for global green taxes

India will compensate a part of the costs incurred by its small exporters to comply with non-tariff measures imposed by other countries such as EU Carbon Border Adjustment Mechanism (CBAM), European Union Deforestation Regulation and the US' Turtle Excluder Device programme.

The plan is part of the export mission announced in the budget wherein the government is framing schemes for MSME exporters to provide credit at easy terms, promote alternate financing instruments and offer assistance to deal with non-tariff measures imposed by other countries.

"The schemes are expected to be rolled out in 4-5 months," said DGFT Santosh Kumar Sarangi. - Our Bureau