Exporters body FIEO suggested a series of measures including outright exemption from GST, interest subsidy for agri-sector, and more funds for MSME players to boost outbound shipments.
Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta said that support measures have the potential to take the country’s exports to USD 375 billion in 2019-20 and create lakhs of jobs and stated that an outright exemption to exporters, as was in existence before the GST regime would help to mitigate the liquidity problem. Substantial GST refunds remain outstanding despite measures taken by the government, causing acute liquidity problem which adversely affect exports growth
The FIEO president sought more funds for improving trade related infrastructure in states, incentives to promote shipments of value added branded products, steps to increase trade with neighbouring countries like Nepal and Bangaldesh, and benefits on sales to foreign tourists.
Since 2011-12, India’s exports have been hovering around USD 300 billion. During 2017-18, the shipments grew by about 10 per cent to USD 303 billion.
