SME Times is powered by   
Search News
Just in:   • Modi's April 5 blackout call puts power grid on high alert  • Google Fi doubles data limit to 30GB in US  • Post-COVID, India to recover faster than advanced nations  • RIL aircraft ferries 6,000 PPE kits to Mumbai  • CBDT issues orders to mitigate hardships to taxpayers 
Last updated: 17 Feb, 2020  

India.China.9.Thmb.jpg Industry asks Centre to consider import subsidies

India.China.9.jpg
   Top Stories
» Post-COVID, India to recover faster than advanced nations
» Fund set up for MSMEs to tackle COVID-19 effects
» Andhra exports 1,530 MT of aqua products
» Exports of diagnostic kits restricted
» MSMEs need to be treated with special care: CII
SME Times News Bureau | 17 Feb, 2020

In a report, industry body Confederation of Indian Industry (CII) has recommended a slew of measures to the government including subsidies to overcome the adverse impact of disruption in the supply of Chinese imports due to the novel coronavirus epidemic.

43 per cent of India's imports come from China. Since China placed a lockdown in its four provinces and 50 cities to contain the COVID-19 epidemic, supply chains of Chinese imports to India have been disrupted.

In its report on the impact of 'novel coronavirus in China', the CII has asked the government to minimise risks to key sectors arising from supply chain disruptions by encouraging domestic manufacturing. The industry has asked the Modi government also to offer a buy-back guarantee to purchase of additional production of the items once China's production and supply returns to normal.

Additionally, the government may consider offering credit with a backstop facility of guarantee for companies which have the capability to start immediate production of items that can feed into domestic consumption, the report said.

The CII asked the BJP government to remove higher customs duties imposed on certain products that may need to be sourced from other countries now. The report also recommended import subsidies for certain products under a trade deal.

The industry has also sought a one-time waiver of Non Performing Assets (NPA) regulations given the exigencies under a Force Majeure clause so that enterprises need not worry about the impact on their credit ratings.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 05 Apr, 2020
  Daily Poll
Ease of doing business improved in last one year
 Yes
 No
 Can't say
  Commented Stories
» China's forex reserves reach USD 2.85 trillion(4)
» Private banks, NBFCs to continue EMIs, if not informed(1)
» The big bang RBI stimulus(1)
» Ensure paychecks for workers, cash flow for firms: Report(1)
» Fund set up for MSMEs to tackle COVID-19 effects(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter