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Govt to soon resolve exporter's issues
29
Jul '10
Government will soon take adequate measures to help labour-oriented industries such as textiles and handicrafts, recover from the after-effects of world economic downturn, informed, Commerce and Industry Minister, Anand Sharma.

After having met an exporters delegation, which was led by CII, Sharma averred that, many sectors like the aforesaid were not performing well and hence, certain measures were soon to be taken up to resolve the matter.

During the April-June quarter year-on-year basis, exports of apparels slipped by 14 percent. During the same period, shipments for handicrafts stood at only US $470 million of the India's overall $51 billion exports.

Sharma is scheduled to meet industry-based organisations and export promotion councils in due course of time, to evaluate the export performance of various segments and come about with beneficial future policies on exports.

Other topic of discussion during the meet was the easy availability of credit to exporters. The ministry has just recently finished its analysis of the varied segments and there were indications that, the exporters in the labour-oriented sectors might receive some financial sops.

More so, the committee led by Minister of State of Commerce and Industry, Jyotiraditya Scindia, to suggest ways to lessen the transaction cost for exporters, has also ended the work that was assigned to it.

Sharma informed that, they were off late worried about the increased cost of transaction, as currently, it works out to be 7-8 percent of the overall export value in the country.

Exports in June, this year, increased by 30.4 percent over the corresponding period, last year, yet they fall short of the figures recorded during the pre-financial crisis period.

Fibre2Fashion News Desk - India

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