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Last updated: 16 Feb, 2019  

Prabhu.9.Thmb.jpg Exporters urge govt to address sector's concerns

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SME Times News Bureau | 16 Feb, 2019

Representatives of industry representatives of industry and exporters on Friday raised several issues including sharp fall in export credit before Commerce Minister Suresh Prabhu.

At a meeting of the Board of Trade in New Delhi, representatives of the Indian industry and exporters expressed concerns about decreasing flow of credit to export sector, retrospective effect of pre import conditions, delays in refund of Input Tax Credit, withdrawal of GSP benefits by US, exports to Iran and OFAC countries, availability of incentives for exports to neighbouring countries, etc., said an official statement.

The issues raised by the trade were addressed by the senior officials and will be taken up in the forthcoming meeting of Committee of Exports and GST council, the release added.

The meeting was attended by Commerce Secretary, Secretary DPIIT, DGFT, Secretaries and other senior officials of key line ministries including, Finance and Agriculture, all major trade and industry bodies, Export Promotion Councils and industrialists.

On this occasion, Commerce & Industry Minister launched a new online “Anytime-Anywhere” export awareness course to train, mentor and hand-hold potential exporters so as to help them to tap international trade opportunities.

In his address, Commerce Secretary, Dr. Anup Wadhawan welcomed the delegates to the Board of Trade and mentioned that India’s exports have faced a very challenging period in recent years, on account of developments arising from the global financial crisis of 2008-09, which accentuated after 2013-14, when the world economy, including China experienced a major trade slowdown.

However, since then concerted efforts through improved logistics, trade facilitation, increased digitization to reduce human interface and increase transparency, implementation of GST, capacity building through skilling etc., the government has been able to arrest the downturn affecting India, he added.

As a result, barring a few stray months, our merchandise exports have been growing on a secular basis since 2016-17 for almost three years and are likely to reach a new peak in 2018-19, the Commerce Secretary said.

 
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