Wait...
  1. Home >
  2. Export Import News >
  3. Export News >
  4. Decline in export credit a concern: Goyal >
  5. Decline in export credit a concern: Goyal

Online Export Import Data Search

recentSearch
Complete Training Video : Click Here

Decline in export credit a concern: Goyal.


Date: 08-06-2019
Subject: Decline in export credit a concern: Goyal
New Delhi, Jun 7 () Expressing concern over decline in export credit, particularly to MSME players, Commerce and Industry Minister Piyush Goyal Friday said steps will be taken to ensure timely availability of funds to exporters. 

"Timely and efficient availability of export credit is critical for any trade activity and is one of the key drivers that boosts growth of export," he said. 

He was speaking at a meeting called to discuss issues related to export credit. 

Goyal said in the last few years the share of export credit has come down and this is a "cause of concern", especially for the MSME sector that suffers due to demand of collateral from lending institutions. 

"Today's meeting with stake holders has been called to address this significant challenge and to redress the situation based on the inputs given by participating organisations and institutions," he added. 

Goyal said the time has come to move away from subsidies and provide easy availability of cheaper credit to exporters. 

To ease the burden on exporters and to make exports competitive and at par with global best practices, he said there is a need to first develop a framework with a stable policy that is an internationally acceptable, consistent and robust and then look for solutions within that framework. 

"Greater transparency has to be brought into the work being done by government organisations, export promotion councils and financial institutions," the minister added. 

He said transparency will ensure that the genuine competitive advantages of exports are harnessed. 

Goyal hoped that the result of the meeting will lead to export credit tripling in the next five years and allow India to be at par with the rest of the world where credit is cheaper and interest rates are lower. 

Exporters have time and again raised issues related to credit as it impacts outbound shipments. 

The meeting was attended by representatives of Ministry of Finance, RBI, State Bank of India, Canara Bank, Punjab National Bank, HDFC Bank, Kotak Mahindra Bank, Axis Bank, Barclays Bank, Citi India, Bank of America, EXIM Bank, ECGC, and Indian Banks' Association. 

Exporters, export promotion councils and industry chambers including FICCI also participated.

Source: timesofindia.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 13-08-2019
Notification No.59/2019 - Customs (N.T.)
Exchange Rates Notification No.59/2019-Custom(NT) dated 13.08.2019.

Date: 13-08-2019
Instruction No. 03/2019-Customs
Recovery of Export benefits given under incentive and Reward Schemes under Chapter 3 of FTP on re-import of export goods.

Date: 10-08-2019
NOTIFICATION No. 32/2019-Customs (ADD)
Seeks to impose anti-dumping duty on imports of "Homopolymer of vinyl chloride monomer (suspension grade)" originating in or exported from China PR and USA for 30 months with effect from 13th August, 2019, in pursuance of SSR investigation by DGTR.

Date: 08-08-2019
Notification No. 57/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver.

Date: 08-08-2019
Trade Notice 29/2019-20
Online filling of applications for claiming assistance under Transport and Marketing Assistance (TMA) for Specified Agriculture Products Schem

Date: 08-08-2019
Notification No. 58/ 2019-Customs (N.T.)
Further amending Notification No. 12/97-CUSTOMS (N.T.), dated the 2nd April, 1997

Date: 08-08-2019
Circular No. 24/2019-Customs
Clarification regarding applicability of All Industry Rates of duty drawback while fixing Brand Rate of duty drawback in post GST era.

Date: 06-08-2019
Notification No. 31/2019-Customs(ADD)
seeks to amend notification No.12/2019-Customs (ADD) dated the 26.02.2019 as per Corrigenda issued by Designated Authority vide notification F. No. 6/45/2017-DGAD 31.05.2019.

Date: 05-08-2019
Notification No. 56/2019 - Customs (N.T.)
Exchange Rates Notification No.56/2019-Custom (NT) dated 05.08.2019

Date: 05-08-2019
Notification No. 33/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001