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In a recent clarification, the Indian government emphasized that any products manufactured by Micro, Small, and Medium Enterprises (MSMEs) using concessional steel under the Duty Exemption Entitlement Scheme must be fully exported. This move aims to ensure that the benefits of cheaper raw materials are not diverted to the domestic market.
Officials reiterated that concessional steel, which is imported or procured at reduced duties to boost competitiveness, should strictly fuel export-oriented production. The Directorate General of Foreign Trade (DGFT) is expected to tighten compliance checks and monitor usage to prevent misuse of the concessional allocation.
This announcement impacts various MSME clusters, particularly in engineering goods, fabrication, and auto components, where concessional steel is a major cost-saving input. Stakeholders are now urged to align their supply chain and export commitments accordingly.
The clarification comes as India continues its push to boost export competitiveness while safeguarding the integrity of support schemes meant for exporters. It also seeks to ensure that domestic steel markets remain unaffected by unintended undercutting due to subsidized material being sold locally.
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