The Purpose Of Raising Export Rebates In India Is To Stimulate Exports.

In order to promote exports, the government of India increased

The export tax rebate rate of a series of products.

The main products of textile tax rebate increase are:

, man-made fiber fabrics, cotton clothing, Lycra cotton, Lycra wool, household cotton textiles, home made fiber textiles.

Other commodities that raise tax rebates include iron and steel utensils, frozen shrimps and aromatic products.

Wallet, belt, industrial gloves, etc.

The Ministry of Finance announced at a news conference on Monday that the government has reformulated the commodity tax rebate rate standard since its export fell for 11 consecutive months, and the new standard has been implemented since November 23rd.

In addition to the increase in the tax rebate rate of the existing rebate products, the commodities incorporating the tax refund scope will also be increased.

At the same time, the names of commodities are classified in more detail, and different rebate rates are enjoyed according to the added value.

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Shen Danyang, a spokesman for the Ministry of Commerce, said at a regular press conference today that in 1-10 months, China's imports and exports were US $3 trillion and 226 billion 960 million, down 8.5% from the same period last year.

He also said that the situation facing China's foreign trade development this year is more complex and severe than that of 2014, and the downward pressure is increasing.

He also said that in 1-10 months, the main features of foreign trade were as follows:

First, general trade exports have maintained growth, accounting for an increase.

In 1-10 months, general trade exports increased by 999 billion 800 million US dollars, an increase of 1.8%, accounting for 53.9% of foreign trade, 2.3 percentage points higher than the same period last year; processing trade exports 649 billion 300 million US dollars, down 9%, accounting for 35% of exports, 2.5 percentage points lower than the same period last year.

Two, the export of mechanical and electrical products maintained growth and the export of labor-intensive products declined.

In the 1-10 month, the export of mechanical and electrical products was 1 trillion and 65 billion 570 million US dollars, an increase of 0.8% over the same period last year, accounting for 57.4% of foreign trade exports, an increase of 1.9 percentage points over the same period last year.

Among them, exports of mobile phones, ships, lamps and lanterns increased by 13.1%, 16.9% and 13.9% respectively.

Seven categories of labor-intensive products exported 389 billion 590 million US dollars, down 3% compared with the same period last year, of which textiles, clothing and shoes decreased by 1.9%, 7.5% and 5.1% respectively.

The three is the growth of private enterprises' exports.

In 1-10 months, private enterprises exported 831 billion 500 million US dollars, an increase of 1.3% over the same period last year, accounting for 44.8% of foreign trade exports, an increase of 1.7 percentage points over the same period last year.

Four, the growth of the countries along the belt and road is increasing rapidly.

In 1-10 months, China's exports to India, Thailand, Vietnam and other countries along the road along the road increased by 8.4%, 14.3% and 5.5% respectively.

Exports to the US and ASEAN grew by 5.2% and 3.7%.

Exports to the traditional markets such as the European Union, Japan and Hongkong fell by 4.1%, 9.5% and 12.2% respectively, while exports to emerging markets such as Russia and Brazil fell by 35.7% and 17.2% respectively.

The five is the negative growth of exports in the eastern, central and western regions.

In 1-10 months, ten provinces and cities in the East (Beijing, Tianjin, Hebei, Liaoning, Shanghai, Jiangsu, Zhejiang, Fujian, Shandong and Guangdong) exported 1 trillion and 549 billion 930 million US dollars, down 1.9%.

The central and western regions exported 306 billion 520 million US dollars, down 5.2%.

Six, imports are still at a low level due to factors such as falling commodity prices and weakening domestic demand.

In 1-10, China's crude oil, plastics, soybeans, refined oil, natural gas, pulp, grain, copper concentrate and other 8 bulk commodities increased in value, and the total reduction in foreign exchange payment was US $about 134000000000 (equivalent to RMB 840 billion yuan), which greatly reduced the production cost of domestic enterprises.

Seven, from the international comparison, China's export situation is still better than that of the world's major economies and emerging market countries.

According to WTO statistics, the United States and the European Union decreased by 6% and 14.7% respectively in 1-8 months. In 1-9 months, exports from Japan, Korea, India, South Africa and Brazil decreased by 9.2%, 6.6%, 16.6%, 7.9% and 16.8% respectively.

My share of the international market has steadily increased from 12.4% at the end of 2014 to about 13%.

Shen Danyang said, according to customs statistics, 1-10 months, China's imports and exports of US $3 trillion and 226 billion 960 million, down 8.5% compared with the same period last year, of which exports 1 trillion and 856 billion 450 million US dollars, down 2.5% compared with the same period last year; imports 1 trillion and 370 billion 520 million US dollars, down 15.7% compared to the same period last year.

In the month of October, China's imports and exports decreased by 12.1% from 323 billion 190 million US dollars, of which exports were US $192 billion 410 million, down 6.4%, and imports 130 billion 770 million US dollars, down 18.8%.