With the Indian finance ministry not being in favor of extending the Duty Entitlement Pass Book scheme for exporters the flagship incentive scheme is most likely to come to an end on June 30.

It may be recalled that the finance ministry on the recommendation of the commerce ministry has been extending the DEPB year after year under which exporters get sops to the extent of 8% to 9% of the value of shipments.

However sources maintain that this time around the finance ministry is not yielding to the exporters’ demand has the backing of the commerce ministry.

However exporters are not willing to give up and are getting ready to lobby hard in the coming weeks for continuation of the assistance which makes their exports competitive in the global market.

Meanwhile the Federation of Indian Export Organizations contends that the DEPB scheme should be continued for at least five more years taking into account the tough conditions prevailing in the global market.

(Sourced from Exim News Service)