Search Result for : Interest Subvention

At the moment, the rupee is over-valued working to the disadvantage of exporters,  says EEPC Sai Nikesh | The Dollar Business Engineering exporters, many belong to the Small & Micro Enterprises (SMEs), want the FM to extend the similar ease of dispensation as was unveiled under the Start-up India initiative, says EEPC   After having witnessed the longest-ever export slowdown in 2015, the Engineering Export Promotion Council (EEPC) has come up with few recommendations to the Union government for implementation in the upcoming Union Budget 2016-17, which it feels would give enough boost to the domestic industry. In a mail response to The Dollar Business, T S Bhasin, Chairman, EEPC, shared the Council’s key expectations from the government in the upcoming ...

The Dollar Business Bureau India’s exports shrank in September for the tenth straight month as shipments of several key products including petroleum, iron ore and oil seeds declined by a significant margin. Exports during September fell by 24.33% to $21.84 billion (about 1.45 lakh crore) from about $28.87 billion (Rs.1.76 lakh crore) during September 2014. Overall exports during April-September this year contracted by 17.63% to over 132.9 billion (Rs. 8.53 lakh crore) as against about $161.4 billion (Rs. 9.72 lakh crore) during the same period in 2014-15, said the latest data released by the Commerce Ministry on Thursday. Expressing concern over the continuous decline in shipments, Federation of Indian Export Organisations (FIEO) President S C Ralhan said the downward trend has ...

Source: PTI The government will announce an interest subvention scheme to help exporters who have been facing a fall in shipments due to weak global demand, Commerce and Industry Minister Nirmala Sitharaman said on Friday. “We will soon come out with an interest subvention scheme for exporters. Each category has its own problems. We are continuing our efforts to address the problems faced by exporters,” she told reporters in Coimbatore, replying to a specific question on declining exports. When asked about the timeframe, she said the scheme is awaiting Cabinet clearance. Stating that the government is conscious that exports have been declining for some months, she said “all of us have been constantly working on it”. To a question on plans to ...

The Dollar Business Bureau In an effort to enhance outbound shipments from the country, the government has assured exporters of giving additional incentives up to Rs.3,000 crore under the Merchandise Exports from India Scheme (MEIS) from next year. The Commerce Secretary Rita Teaotia on Wednesday held a brainstorming session with the representatives of 27 export promotion councils and other export bodies and sought their suggestions to promote exports. In the meeting, the Commerce Secretary said that the allocations for export incentive schemes in the current financial year has been increased from Rs.18,000 crore to Rs.21,000 crore and “this amount was likely to be available for allocations in the coming year”, the Commerce Ministry said in a statement. Export promotion councils for ...

There is a need to analyse and find the reasons before it is too late, says FIEO President The Dollar Business Bureau | @TheDollarBiz Softening commodity prices and an uneven global recovery hurt India's exports in October 2014   The Federation of Indian Export Organisations (FIEO) has expressed disappointment over the decline in Indias October 2014 merchandise exports and has urged the government to analyse the reasons to prevent a slide. According to the Ministry of Commerce, Indias exports (merchandise) declined to the lowest since April 2014 to around $26 billion in October 2014. This is down about 10% from $28.9 billion in September 2014, and down about 5% from around $27.5 billion recorded in October 2013. Cumulative exports in April October 2014 ...

The Dollar Business Bureau | @TheDollarBiz Uneven growth among major economies and a slowdown in Europe has adversely affected India’s exports in recent months leading to a modest Y-o-Y growth of below 3% in August 2014. According to the Ministry of Commerce, India’s exports stood at around $26.9 billion in August 2014, up about 2.35% from $26.3 billion recorded a year earlier, but down about 2.8% from exports worth $27.7 billion recorded in July 2014. M. Rafeeque Ahmed, President, FIEO Cumulative exports during April – August 2014 of around $134.8 billion is still up about 7.3% from $125.6 billion in the corresponding period last year, but below the 8.62% growth registered for the April-July 2014 period. This does not augur well ...