RBI extends the time period for realization & repatriation of export proceeds from 9 months to 15 months from the date of export
Presently value of the goods or software exports made by the exporters is required to be realized fully and repatriated to the country within a period of 9 months from the date of exports. In view of the disruption caused by the COVID-19 pandemic, the time period for realization and repatriation of export proceeds for exports made up to or on July 31, 2020, has been extended to 15 months from the date of export. The measure will enable the exporters to realise their receipts, especially from COVID-19 affected countries within the extended period and also provide greater flexibility to the exporters to negotiate future export contracts with buyers abroad.
Retail sales recovery could resume this May
- As the Covid-19 pandemic forces retail stores to down their shutters, signalling an unprecedented disruption of commerce, a new study has suggested India’s retail sales recovery might kick into gear from the first week of May, if the current lockdown is not extended further.
Taking cognisance of what transpired in China when the epidemic unfolded, and its impact on retailers, the study by SaaS company Capillary Technologies notes the most resilient retailers to survive the epidemic in China were omnichannel retailers. It predicts that Indian brands that invest in enabling a personalised omnichannel shopping experience would be able to experience the fruits of their labour once the lockdown situation eases.
Capillary Technologies conducted the survey to analyse the impact of Covid-19 in the retail industry across India, China, Singapore and the Middle East. Around 10,000 stores in these geographies were surveyed before and during the lockdown.
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