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
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