Fortunately - DGFT has lifted ban on the export of non-medical & non-surgical masks of all types (cotton, silk, wool, knitted) from India after receipt of numerous representations from Industry.
This would definitely give a big boost to textile and other ancillary industries, who were struggling to survive in these difficult times. Apparel Export promotion Council says "We expect to export these masks worth USD one billion in the next three months".
So, lets understand quickly, what types of masks are allowed and how can you be benefited out of this new & big business opportunity.
# What types of masks are allowed to export? (Do's)
Non-medical & non-surgical masks of all types (cotton, silk, wool, knitted) are allowed to be exported w.e.f. 17 May 2020.
# Whether any export incentives are available on such products? (Do's)
The answer is – definitely yes. There can be multiple export incentives claimed on export of masks.
# What points to be considered while exporting masks from India? (Do's)
- Identifying correct HSN code for export of masks, otherwise there are chances
- Due to recent frequent changes in the policy, it is important to evaluate every time before taking up export order - whether the product is freely allowable or restricted or prohibited for export
- Identify correct set of export incentives on export of masks, which can help in earning additional profits or can be helpful to become competitive in International markets by way of quoting competitive Export price
- Mention appropriate description while raising export invoice and filing shipping bills for export
# What types of mask still remain prohibited for exports? (Don't s)
Medical & surgical masks falling under falling under following HSN codes - 392690, 621790, 630790 901890 or 9020 or any other HSN code are still prohibited.
# Our Recommendations
To sum-up, any exporter venturing into export of masks, must definitely take up this opportunity now itself and it is highly recommended to look at overall benefits available for export of masks to win deal in the highly competitive international markets.
To know further about EXIM related matters, feel free to get in touch with us through e-mail id – info@bizbrains.in or at (+91) 94280 79020.
Have you claimed all your eligible Export incentives/refunds? Don’t worry, we are here to help you. For further details visit our page.
