Fears of weaker rupee, higher inflation worsen

The Finance Ministry increased the validity of electronic duty credit scrips under various schemes to 24 months, giving more flexibility to exporters

Earlier this month, the government unveiled its National Logistics Policy aiming to reduce the logistics costs by 5-6 per cent from an estimated 13-14 per cent of GDP. It also took some measures of interest to the exporters and importers. Yet, all these initiatives were overshadowed by worrying developments abroad.  
 
The Commerce Ministry allowed invoicing, receipts, and payments in rupees through Special Vostro Accounts (SVA) for trade transactions in sync with the instructions of Reserve Bank of India (RBI) on July 11, but refrained from saying whether exporters will receive incentives such as duty drawback against receipt of payments