Exporters flagged several issues in their meeting with Union Commerce and Industry and Textile Minister Piyush Goyal and urged for support at the recently held Exporters Conclave held in Chennai.
Piyush Goyal assured them that the Government is committed to addressing the issues raised by them.
The Minister expressed confidence that the country will achieve the export target for goods and services to US $ 2 trillion by 2030.
He emphasised on sustaining the export momentum and said that he is confident that Indian exports will be able to wither the global headwinds and will surpass growth in exports by a ‘big’ margin.
Exporters stressed on the rising cost of raw materials and subdued demand in certain key export markets and the need for more support that they require in this difficult time.
A Sakthivel, President, Federation of Indian Export Organisations (FIEO) said that Indian exporters have good opportunities for exports to Russia and the EU despite recessionary trends visible there.
He requested the Minister to introduce the Exports Refinance Facility for banks so as to refinance them at the repo rate to the extent of credit extended to the export sector.
Sakthivel said that the levy of GST on exports freight has added to the exporters’ liquidity woes.
Other issues discussed were the need for higher interest subsidy for exporters; extension of benefits for exports to Russia under Rupee payment; higher freight costs etc.
