EEPC India welcomes steps to boost exports, seeks hike in MAI, MDA.

KOLKATA: The EEPC India on Wednesday complimented the government decision to include a number of engineering products in the interest subvention scheme for the exporters. However, more needs to be done to support product exports so that they cope up with the slowdown in demand in all the traditional markets.

""While we welcome announcement by the commerce minister Mr Anand Sharma to include engineering in the interest subvention scheme, the sector would require more measures so that we can compete and generate demand for our goods in the traditional markets as also the new markets,"" chairman of EEPC India Mr Aman Chadha said.

As many as 235 tariff lines in engineering products will be eligible for interest subvention which has been increased from 2% to 3%.

He said, it was a matter of concern that the export target had to be revised downward to USD 325 billion from USD 350 billion . However, all out efforts shouldbe made in catching- up. The funds under the Market Access Initiative (MAI) and Market Development Assistance (MDA) schemes should be raised substantially so that exporters can visit overseas more often and participate in the product exhibitions.

Engineering exports have declined by 7.50 per cent in the first quarter of the current fiscal while in June the shipments were down by 9.26 per cent.

Source : economictimes.indiatimes.com