With the extension of the existing Foreign Trade Policy 2015-20 upto 30.09.2021by DGFT, SEPC is hopeful of the speedy notification of SEIS for 2019-20 which would be a great relief to the services exporters reeling under the COVID impact.
SEPC over the past one year has had a series of interactions and representations with Hon’ble Minister of Commerce and Industry, Hon’ble Minister of Finance, DGFT and stakeholders at various levels and platforms for the release of notification for SEIS for 2019-20.
SEPC also commissioned a study to develop an alternative to SEIS to evaluate the burden of unrebated taxes/levies and provide an innovative framework for the incentive scheme to achieve the following objectives of:
Impetus to Services Exports focusing on issues such as diversification; Employment Generation; Promotion of MSMEs and Needs of specific sectors
India has emerged as a global hub for supply of various services.As per RBI recent data, India has a strong services trade surplus to the tune of US$ 76.8 bn (April-Feb 2020- 21).
As a nodal organization for export promotion for services exports, SEPC remains committed toproactively promote the interests of the service exporters globally by enhancing their businesses through export development and promotion initiativesalong with regular fruitful facilitations with the Government and stakeholders.
(With inputs from agencies)