SME Times News Bureau | 03 Apr, 2012
Exporters' body FIEO Monday cautioned
that Indian exports are likely to be affected the coming months due
to slowdown in global trade.
Responding to recently released trade
data till February 2012, Federation of Indian Export Organisations
(FIEO) President M. Rafeeque Ahmed said, " Growing protectionism
will further affect global trade which is expected to grow by 4% in
2012 as against over 14 percent in 2010."
However, he added, India's
diversification strategy coupled with BRICS decision of trading in
local currency and emerging opportunities in Iran will help us to
sail through rough weather.
He demanded that the government should
extend interest subvention to all sectors of exports till March 2013
and address the issue of TDS on overseas commission which has led to
an anomolous situation in wake of contrary court verdicts.
Commenting on exports the last fiscal's
US$ 300 billion target, the FIEO chief said that India is inching
towards the target but may fell short of it and reach US$ 290
Billion with expected average growth of 20 percent.
