Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Coronavirus pandemic | Export sector starts feeling pinch of COVID-19: FIEO.


Date: 19-03-2020
Subject: Coronavirus pandemic | Export sector starts feeling pinch of COVID-19: FIEO
Exporters body FIEO on March 18 said export sector has started feeling the pinch of the outbreak of coronavirus as international buyers are asking to hold back shipments.

Federation of Indian Export Organsations (FIEO) said they are expecting that in the coming days significant number of such requests would come which could eventually lead to cancellation of orders.

The MSMEs particularly in employment intensive sectors like carpets, handicrafts, apparels, footwear, gems and jewellery, and marine are likely to be worst affected particularly in the first quarter of 2020-2021 as per the current trend, it said in a statement.

"Coronavirus has hitherto not impacted the Indian economy yet export sector has started feeling the pinch with many requests from buyers to hold back shipments till further instructions. We feel that a significant number of such requests may eventually lead to cancellation of orders," it said.

The federation sought steps from the government to deal with the issue.

It said that banks may be asked to delay the declaring companies' accounts as NPA (non performing asset) for one year as the lack of business coupled with fixed cost will make many accounts NPAs.

The other suggestions include collateral free lending up to Rs 2 crore for MSME and extension of all existing export promotion schemes till March 31, 2021.

"The government may ease out the liquidity by immediately releasing all exports benefits to exporters including risky exporters for which a bond may be taken from risky exporters," it said adding if situation improves rapidly in the second quarter of the next fiscal, Indian exporters may gain in some products.

However, it added that at this point of time, survival of many MSME exporting units looks challenging.

Source: moneycontrol.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: 28-04-2025
Notification No. 24/2025-Customs
Seeks to amend List 34A and 34B of the Notification No. 50/2017-Customs dated 30.06.2017

Date: 23-04-2025
Notification No. 28/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 17-04-2025
Notification No. 26/2025 – Customs (N.T.)
Amendment to Notification No. 77/2023-Customs (N.T.) dated 20.10.2023 - Revision of rate of duty drawback of Gold jewellery and silver jewellery/articles

Date: 15-04-2025
Notification No. 24/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 08-04-2025
Notification No. 23/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 04-04-2025
NOTIFICATION No. 23/2025-Customs
Seeks to amend entry 515C of notification 50/2017-Customs

Date: 28-03-2025
Notification No. 17/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 27-03-2025
NOTIFICATION No. 11/2025–Central Tax
Seeks to notify Central Goods and Services Tax (Second Amendment) Rules 2025

Date: 13-03-2025
Notification No. 13/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 13-03-2025
Notification No. 10/2025 – Central Tax
Seeks to amend notification No. 02/2017-Central Tax.



Exim Guru Copyright © 1999-2025 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 InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001