Barthwal says structural issues in exports need to be resolved
India will not be affected by the global recession and exports are set to bounce back in the next few months, says Director General of Foreign Trade Santosh Kumar Sarangi.
He has also asked the industry to utilise the opportunities offered through India-UAE CEPA which have become operational from 1 May 2022 and India-Australia ECTA which will be operational from 29 Dec 2022.
Addressing an Interactive Session at Tirupur on 10 Dec, Sarangi has assured the industry that DGFT would be providing the necessary facilitation to the Exim sector.
Also speaking at the session, Commerce Secretary Sunil Barthwal said that structural issues in exports need to be resolved so that “we can support our exports on long-term basis”.
Focus on skilling is required to increase productivity as wages will continue to move upward,” he said.
Barthwal informed that the Government Schemes may consider to provide common facilities in clusters particularly those capital-intensive facility which can burden the entrepreneurs.
He complimented the exporters of Tirupur for exhibiting great entrepreneurship and processing exports of Rs.35,000 crore in 2021-22.
FIEO President Dr A Sakthivel highlighted on the liquidity challenges faced by the exporters and requested for extension of Emergency Credit Linked Guarantee Scheme (ECLGS) to be extended till 31 March 2023.
He also requested for re-introduction of Export Refinancing facility for exports to encourage banks to get re-financed at Repo Rate.
Dr Ajay Sahai, DG & CEO, FIEO, has called for the development of an Indian shipping line of global repute as exporters are solely at the mercy of foreign shipping lines, having paid over US$80 billion for transportation services in 2021.
Dr Sahai also urged for early operationalization of Development of Enterprise and Service Hubs (DESH) Scheme which is set to provide plug & play facility wooing Indian investors and attracting FDI. fiinews.com
