SME Times News Bureau | 12 Jun, 2013
Notification permitting export of imported goods to Iran with 15 percent value addition, the apex exporters
body, FIEO, said that the relaxation in export of imported goods to boost
The move will benefit Indian exports and
we can look forward for sizable growth in India's exports to Iran in the current fiscal,"
M Rafeeque Ahmed, President,
Federation of Indian Export Organisations (FIEO) said in a press statement on
However, President, FIEO suggested that Government should put a cap on such
exports so that the basic idea of promoting manufactured exports from the
country remain in focus and the new provision is tested on a limited
To encourage exports, the government has recently allowed export of
imported goods with 15 percent value addition to countries from where the
proceeds are realised in Indian rupee.
The Directorate General of Foreign Trade (DGFT) will notify the names of those
countries as to which exports under the new dispensation could be made.
opening of Letter of Credit from Iran under the Rupee Payment Mechanism has been impressive touching about USD 400
million on monthly basis. With the new provision being put into place, we can
look for exports close to USD 6 billion in 2013-14," added Ahmed.