India to bolster export tax refunds amid regional conflict
The Indian government is discussing a five-year extension and increased funding for its export tax refund program to support businesses facing high freight rates and regional instability. This move follows a 7.4 percent drop in merchandise exports in March as trade with key Middle Eastern partners declined.
Xurve View
Xurve View
India plans to increase spending on its export tax refund scheme and extend the program through 2031 to counter regional trade disruptions. The move follows a 7.4% year-on-year drop in merchandise exports in March as Middle East conflict strained global shipping. Protecting trade flows is critical as exports now account for nearly 20% of the Indian economy.
