SME Times News Bureau | 12 Jan, 2019
Exporters' organisation FIEO has complimented
commerce minister Suresh Prabhu for presiding over a meeting to discuss
problems faced by the export sector.
Minister of State for Finance, senior officers from
Finance, Revenue, DGFT and Commerce Department and President and DG & CEO,
FIEO, Chairman of Gems & Jewellery, Chairman EEPC, representatives of Pharmexcil
and Chemexcil were also present in the meeting.
Prabhu highlighted the declining trend of export
credit in recent months and asked Ministry of Finance that banks may be
instructed to encourage flow of credit to export sectors particularly to MSME
for giving a push to employment.
Commerce Minister also urged Ministry of Finance to
put ITC refund online so as to make the export refund seamless helping
exporters and ensuring transparency and accountability.
Gupta highlighted the problem of pre-import under
advance authorisation and requested to bring the notification deleting the
condition with retrospective effect to give relief to exporters.
Prabhu asked DGFT and DoR to look into it so that
bonafide exporters are not harassed.
The FIEO President also raised banking issues such
as caution listing of exporters, third party/ third country exports and list of
items to be traded with Iran.
It was decided that Department of Financial
Services will discuss such issues with banks in the meeting scheduled on
January 22, 2019.
Mr Gupta acknowledged the support given by the
Government to exporters by extending interest equalisation scheme to exporters
and operationising trade with Iran.
