FIEO shows concern over slow growth in Indian exports

13 Feb '14

2 min read

Mr. M Rafeeque Ahmed, President, Federation of Indian Export Organisations (FIEO) expressed his serious concern over the declining trend in exports from October-2013 onward. Reacting to the Trade Data for the month of January, 2014, he said that the continued modest growth in exports is worrisome to achieve the targets for this fiscal.

The data of 3.4% growth during December, 2013 and 3.79% growth in January, 2014, indicate that Indian exporters need immediate attention to bring exports back on track and we need to take immediate measures to augment exporters, the FIEO Chief said.

Factors like liquidity problem with inadequate flow of credit, blockage of legitimate refunds like Duty Drawback, Excise Rebate Service Tax, VAT, delays of shipments with implementation of export RMS etc. are affecting exports, Mr. Ahmed added.

The FIEO Chief asked for declaring exports as Priority Sector, creating an Export Development Fund for aggressive marketing, EDI linking of all export related Agencies, extension of interest subvention scheme to merchant exporters also. All these measures, he said, will help to achieve a double digit growth.

Mr. Rafeeque Ahmed, however, expressed his happiness that various measures to contain imports seem to be working as is reflected in a significant drop in the trade deficit. At the same time he said that there is need for retaining a watchful eye on import bill because of our necessity of import of crude, commodities, raw material, capital goods, etc.

FIEO

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