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Deccan Herald » Business » Detailed Story
To meet heads of export bodies on November 15
FM will weigh exporters woes
New Delhi, PTI:
Finance Minister P Chidambaram will meet heads of different export bodies on November 15, amid indications that Commerce Ministry is pressing for another package for exporters who are witnessing a fall in profit due to a sharp rise in rupee.


 “The Finance Minister will evaluate the impact of rupee appreciation on exports,” an official from one of Export Promotion Councils (EPCs) said.

Seek support

Besides senior representatives of Federation of Indian Export Organisations and EPCs from worst-hit sectors like textile, gems and jewellery, engineering and electronics are also expected to attend the meeting.

Before meeting Mr Chidambaram, exporters would meet Commerce Secretary G K Pillai on November 14 and seek the support of Commerce Ministry for mitigating their problems.

The rupee has risen by about 12 per cent against the dollar since January. This has not only cut the margins of exporters but also affected their competitive strength against China in the developed markets of the US and Europe.

While the government has already given relief packages, the exporters are seeking more help by way of reimbursement of state level taxes as well. The government had given three relief packages to exporters, aggregating Rs 5,200 crore.

The Commerce Ministry has been seeking more relief measures for the exporters, but the move has not gone well with Finance Ministry, officials said. Though export growth rate has maintained a healthy trend of 19 per cent, it is not coming from employment- oriented sectors like textile, handicraft and leather. It is only the engineering and petroleum products that have contributed to the export growth.

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