February imports of US$55.45 billion is a point of concern, says Dr Sakthivel
The February 2022 merchandise shipments of US$34.57 billion has once again showcased the continuous resilience of India’s exports sector, but there a need to allow transfer of MEIS through operation of transfer module, increase the validity of scrips to 24 months and link transferability with realisation, extend RoDTEP to EOUs, SEZ and Advance Authorisation and expand usages of RoDTEP and RoSCTL scrips.
Stating this, FIEO President, Dr A Sakthivel welcomed the February exports and applauded the enthusiasm of Exim community which has impressively performed and boosted the sector.
He noted the government support especially the recently announced measures supporting exports including the extension of the interest equalisation scheme and extension of time for filing of MEIS/RoSCTL/ROSL scrip.
With monthly merchandise exports crossing the US$30 billion mark for 11th consecutive month and touching almost US$375 billion during the fiscal till now, shows “we are on course to cross the US$400 billion exports target for the fiscal”.
The top performing sectors were Engineering Goods, Petroleum Products, Gems & Jewellery, Organic & Inorganic Chemicals, Electronic Goods, Cotton Yarn/Fabrics/Made-ups, Handloom Products etc., RMG of All Textiles, Plastic & Linoleum and Rice.
Out of these, many of the shipments were from labour-intensive sectors which is a good sign, he added.
However, February imports of US$55.45 billion is a point of concern and should be analysed, said Dr A Sakthivel. fiinews.com
