The Export Promotion Mission, announced in Budget 2025, is yet to be finalised as several approvals are still pending. File
| Photo Credit: Reuters
The Ministry of Commerce and Industry has initiated a number of ease of doing business compliance measures over the last month to help domestic businesses, while also protecting them from dumping from abroad by launching anti-dumping investigations on at least 15 product lines.
However, the Export Promotion Mission, announced in Budget 2025, is yet to be finalised as several approvals are still pending. Officials in the Ministry are confident that significant headway will be made on this over the next month.
“The Department of Commerce has clarified that transactions for services provided between units in different Special Economic Zones, and transactions between units in an SEZ to the rest of the country are exempt from Foreign Exchange Management Act regulations,” an official in the Ministry of Commerce and Industry said, on the condition of anonymity as they are not authorised to speak to the media.
The official added that SEZ entities have now been allowed to file their annual performance reports by December 31, in line with the timelines prescribed for the filing of other audited reports and returns under the Income Tax and GST laws.
Other concessions have to do with the declaration of incoming payments by exporters.
“After sustained representations by the Department of Commerce, the Reserve Bank of India has allowed exporters and importers to self-declare payment for transactions up to ₹10 lakh,” the official said. “Banks can close their Export Data Processing and Monitoring System and Import Data Processing and Monitoring System entries without manual scrutiny or penalties.”
In line with this, consolidated quarterly declarations have been permitted, with the aim to reduce delays, reconciliation efforts, transaction costs, and time for MSMEs.
In addition, the Directorate General of Trade Remedies has completed investigations on the dumping of 15 different product lines, including glass fibres, cold-rolled steel, certain antioxidants, solar cells, and soda ash.
These investigations pertained to imports of these items from China, Bahrain, Thailand, Russia, Singapore, Kuwait, Saudi Arabia, Japan, Chile, the U.S., Turkey, Iran, Vietnam, South Korea, and the European Union.
Stopping this dumping protects India’s domestic industry from artificially cheap imports.
Published – October 16, 2025 05:26 pm IST
