Sunil Khandelwal, chief financial officer of Alok Industries, in an interview to CNBC-TV18, spoke about the latest happening in the company and the road ahead.
Expressing disappointment over losing of tax-refund DEPB scheme, exporters today said there is a need for more stable and long-term policy as frequent changes affect their business.
Mahantesh Sabarad, senior analyst of Fortune Equity Brokers, in an interview on CNBC-TV18, discusses how this announcement is likely to impact India Inc and what does means for the auto sector in particular.
The government is planning to replace the Duty Entitlement Pass Book (DEPB) scheme with the duty drawback scheme, which is originally established to roll out next month-end. Sources in the government indicate that new duty drawback rates may be 1-3% lower than DEPB rates, reports CNBC-TV18's Aakansha Sethi.
India's export of goods rose an unprecedented 82% to USD 29.3 billion this July. However, neither the exporters nor the government is celebrating, reports CNBC-TV18. The gloom comes in the light of an expected slide in outflow in the coming months, on the back of global uncertainty and cost pressures in the domestic market.
The Heavy Industries Ministry has sought the continuation of DEPB scheme. The popular exports promotion scheme is set to expire on September 30. CNBC-TV18’s Rituparno Bhuyan reports.
The government has decided to extend a tax break for exporters beyond a June 30 deadline. HS Goindi, President Marketing of TVS Motors, said that a three-month extension on DEPB will prove as a positive move for industry, however, he feels that more details are required from the government on the same.