Saturday, July 5, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Banking & Finance

FIEO welcomes procedural simplification of exports

Fiinews by Fiinews
October 2, 2017
in Banking & Finance, Exports
Reading Time: 1 min read
A A
0
0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Micro and small exporters will benefit, says Gupta

The Federation of Indian Export Organizations (FIEO) has welcomed the decision to dispense with Bank Guarantee requirement under Bond and replacing it with Legal Undertaking (LUT).

FIEO President Ganesh Kumar Gupta said this was much needed simplification which will help in reducing transaction time and cost of exporters.

Micro and small exporters will immensely benefit as they were struggling to get bank guarantee unless they furnished collateral to the bank which affects their liquidity and flow of working capital impacting production.

FIEO said “We should gradually move towards e-LUT (Electronic Legal Undertaking) which can be furnished online so as to eliminate any physical interaction with the tax authorities”.

Over a period of time, the requirement of LUT can also be eliminated, said Gupta, as matching of exports invoice with shipping bill is envisaged under Goods and Services Tax Network (GSTN), the purpose for which LUT is being asked for. fii-news.com

Tags: Federation of Indian Exporter Organizations
ShareTweetShare

Related Posts

Toy Biz International2
Exports

Export: India supplies toys to 153 countries

by Fiinews
July 5, 2025
0
17

Minister tells industry to focus on good branding The manufactured in India toys are exported to 153 countries, Commerce and...

Ministry of Textile
Exports

Export: Govt to facilitate easy trade environment

by Fiinews
July 2, 2025
0
15

Manufacturers urged to ramp up production Commerce and Industry Minister Piyush Goyal has reaffirmed the Government’s commitment to create a...

Aieclogo

Export: Focus on competiing in global markets

June 27, 2025
13
Credlix Logo

Export: Credlix launches India-Mexico service

June 25, 2025
13
World Steel

Export: New rules imposed on material imports

June 23, 2025
15
PIB

Export: India-Canada to resume EPTA talks for CEPA

June 20, 2025
14
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Market: Daimler bullish on construction sector
  • Tender: Minister wants innovation in projects
  • Projects: PM discuss potential collaboration in T&T
  • Export: India supplies toys to 153 countries
  • Invest: Serendipity Space raises pre-seed round

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.