Thursday, October 23, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Economy

Aggarwal’s 7-prong recommendations on corona virus impact

Fiinews by Fiinews
March 19, 2020
in Economy, Exports, Uncategorized
Reading Time: 2 mins read
A A
0
PHD Chamber of Commerce and Industry
0
SHARES
10
VIEWS
LinkedinShare on Twitter

Implement: Rs.102 lakh crore NIP now

The PHD Chamber President Dr D K Aggarwal has suggested a seven-prong strategy to mitigate the impact of coronavirus on India’s trade and industry.

Firstly, as there is a drastic fall in the business activities, vis–a-vis lower domestic and internal sales, the working capital requirement of the businesses has to be addressed by increasing the working capital limits of business enterprises by 25%. No new application should be required to be filed for this purpose.

Secondly, reduce the cost of capital by at least 100 basis points by instructing banks to pass on the benefit of earlier cuts and also cutting the Repo Rate from the current levels of 5.15%. Also create enough liquidity for the businesses and lower interest rates to help maintain and rejuvenate domestic demand.

Reduced cost of capital will enhance the competitiveness of exporters in international market and help exporters to grab the opportunity of slowing China’s global exports and increase Indian market share.

Thirdly, crude price has come down substantially but in India, the petrol and diesel prices have not come down due to higher fixed excise duty and central and state VAT. To boost and hand hold the Indian industry in these difficult times, he called for reduce Excise duties and VAT on petroleum, diesel and allied products by at least 25%, to bring down the prices of petrol and diesel by Rs.9-10 per litre. This will be a big relief to the industry, will boost and kick start growth, while reviving the spirit in the economy.

Fourth, as MSMEs are not that much strong in their financial requirements at this juncture a special category fund for the MSMEs to fund their finance needs will be crucial to save them from the coronavirus shock.

Fifth, government needs to enhance the consumption expenditure in the economy as increased domestic demand will help manufacturing sector to grow and maintain the capacity utilization.

Sixth, the allocation of Rs.102 lakh crore made for the National Infrastructure Pipeline for next five years needs to be implemented for the coming Financial Year, as increased spending in infrastructure will give a multiplier effect. This will rejuvenate the aggregate demand in the economy and mitigate the impact of corona virus on the growth trajectory of the country.

Seventh, the outbreak of coronavirus has adversely affected the supply chains in China. The manufacturing operations in the country have been disrupted as significant number of companies have temporarily shut their assembly and manufacturing plants.

To benefit from China’s decreased manufacturing production due to the coronavirus outbreak, the government needs to build up a well-integrated and competitive supply chain logistics including increase the number of cargo containers to meet the growing global demand of Indian spices, ceramics, home-ware, fashion and lifestyle goods, textiles, engineering goods and furniture, among others. fiinews.com

Tags: PHD Chamber of Commerce and Industry
ShareTweetShare

Related Posts

Assocham
Exports

Export: India negotiate FTAs on own terms

by Fiinews
October 21, 2025
0
18

World recognises India as important trading partner India has undergone a significant shift in recent years and negotiates from a...

ICC Brasil
Exports

Export: India-Brazil work on agri-food processing

by Fiinews
October 18, 2025
0
23

Minister seeks deepening partnership with Brazil Minister of Commerce and Industry Piyush Goyal has expressed optimism that the ongoing India-Brazil...

FIEO

Export: Merchandise demand continues to grow

October 17, 2025
12
FSSAI

Export: India calls for Spice Standards

October 15, 2025
16
Peter Kyle - profile.

Export: JETCO to oversee CETA operations

October 10, 2025
21
QBA

Export: India-Qatar to expedite CEPA talks

October 10, 2025
23
SBI YONO
Sabit

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Technology: Impact of FinTech conferences on students and future opportunities in industry

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Project: Paris Commitment not fulfilled
  • Market: Dattax brings MariaDB to India
  • Invest: Appiness adds iLumaLab to AI-CoE
  • Manufacturing: Bhageria expands H-Acid capacity
  • Tech: British-Indian innovation for health

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.