Exports

Suresh Prabhu calls on stakeholders’ consultation on exports

New Delhi. Commerce &  Industry Minister Suresh  Prabhu October 6 held a  Stakeholders’ Consultation  with leading Exporters, Export  Promotion Councils, Associations and  Local Chambers with a view to give a  fillip to the export sector.

The consultation was jointly  organized by the Ministry of Commerce  and the Federation of Indian Export  Organisations (FIEO).

Minister for Textiles and Information  and Broadcasting Smriti Zubin Irani,  and Minister of State for Commerce &  Industry C R Chaudhary, the Commerce  Secretary, the Department of Industrial  Policy & Promotion Secretary and  the DGFT also participated in the  discussions.

Representatives from Confederation  of Indian Industry (CII), Federation  of Indian Chambers of Commerce  & Industry (FICCI), Associated  Chambers of Commerce and Industry  (ASSOCHAM), Marine Products Export  Development Authority (MPEDA),  Spices Board, Carpet EPC, Council of  Leather Exports, Engineering Export  Promotion Council (EEPC), EPC for EOUs  & SEZs, Indian Oilseeds and Produce  EPC, CHEMEXCIL, CAPEXCIL, Tobacco  Board, Shellac EPC, EPC for Handicraft,  Plastic EPC, Cotton and Textiles EPC, Silk  EPC, Pharmaceutical EPC, Electronics  and Computer Software EPC, Project  EPC, Sports Goods EPC, Powerloom  Development EPC, Federation of Indian  Micro and Small & Medium Enterprises,  Panipat Exporters Association, Tirupur  Exporters Association and many other  leading exporters participated in the  discussions and raised sector specific  issues.

The representatives were  appreciative of the initiative of the  Ministry of Commerce and Industry to  hold such a consultation.

The Minister for Commerce &  Industry asked export promotion  councils and industry associations to  prepare a vision statement for their  product group. He also stressed on  the importance of export led growth  and assured stakeholders of working  together to boost exports and the  need to enhance competencies and  the need to tap into the global value  chain, which would provide fillip to the  country’s efforts to enhance exports.

The deliberations flagged  global and domestic challenges  faced by exporters. Many options  and suggestions were proposed  to overcome such challenges. GST  related issues regarding working  capital blockage, delay in refunds  and usability of MEIS/SEIS scrips were  raised by exporters. In the context of  mid-term review of the Foreign Trade  Policy, exporters requested inclusion of  more products under MEIS and Interest  Equalisation Scheme and increase  in the rates of incentive and interest  subvention rates.

The meeting also provided inputs  for a new export strategy focusing on  integrating India into the Regional/ Global Value Chain, focus on high and  medium technology sectors of exports,  revisiting the focus area approach and  unleashing the potential of services  such as tourism, professional services  and e-Commerce.

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