Key highlights:

  • FIEO in a statement said micro and small exporters will be immensely benefited from this decision
  • "This is much needed simplification which will help in reducing transaction time and cost of exporters," it said

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The decision to exempt small exporters from furnishing bank guarantee for shipping goods and services is a much needed solution that will help reducing transaction time and cost of exporters, FIEO said Saturday.

Federation of Indian Export Organisations (FIEO) in a statement said micro and small exporters will be immensely benefited from this decision as they were struggling to get bank guarantee.

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