Export credit declining
Commerce and Industry Minister Suresh Prabhu wants banks to encourage credit flow to export sector, especially micro, small and medium enterprises (MSMEs).
This follows a meeting with export organizations on 9 Jan 2019 in Delhi during which Prabhu highlighted a declining trend of export credit in recent months.
Suresh Prabhu highlighted the declining trend of export credit in recent months.
He has also urged to make export refund seamless through the online Input Tax Credit (ITC).
He has also taken note of banking issues like caution listing of exporters, third party/third country exports and list of items to be traded with Iran.
The Finance Ministry’s Department of Financial Services will discuss these issues during a meeting with banks on 22 Jan 2019.
Meanwhile, Federation of Indian Export Organization has appreciated the minister’s taking note of the issues during their meeting. fiinews.com