Press Esc to close
Tuesday 06 December 2016
News updated at 5:41 PM IST
Weather
Max: 29.4°C
Min : 19.6°C
In Bengaluru
Partially cloudy

Board of Trade to meet tomorrow to review export performance

New Delhi, Aug 26, 2013, (PTI) :
File Photo
Issues like high interest rates, weak infrastructure and extension of cheap loans to more export-oriented sectors are expected to figure prominently in the high-level Board of Trade (BoT) meeting to be chaired by Commerce and Industry Minister Anand Sharma tomorrow.

The meeting, which will have representation from the ministries of finance, external affairs, MSME and industry chambers and export promotion councils, will suggest steps to further boost exports.

"The board will review export performance. The industry is expected to raise issues like high interest rates, infrastructural bottlenecks, interest subsidy for more sectors and some more benefits for special economic zones in the meeting," a senior Commerce Ministry official said.

Besides, the meeting will also discuss the impact of the rupee fluctuation on the country’s exports, the official added.

The domestic currency had last week touched an all-time low of 65.56 against the US dollar.

Although exports have recorded a growth rate of 11.6 per cent in July, major sectors like gold and jewellery and engineering are still in the negative zone.

Snapping two consecutive months of decline, shipments grew to USD 25.83 billion in July.
Exports of engineering goods, gems and jewellery, textiles and petroleum products account for almost 80 per cent of the country's shipments.

According to industry experts, the target of USD 325 billion for the current fiscal is difficult to achieve.

The official said the government's focus was to address the short-term and medium-term concerns in the wake of a ballooning current account deficit (CAD).

CAD, which indicates imports of goods, services and transfer being higher than the exports, touched 4.8 per cent (or USD 88.2 billion) of country's GDP in 2012-13.
In the current fiscal, the government is making efforts to contain the CAD at 3.7 per cent (or USD 70 billion) of GDP.

Apparel Export Promotion Council (AEPC) said it would seek waiver of service tax on few services.

"Besides, we will also raise few concerns related with labour laws and steps to reduce transactions cost," AEPC Chairman A Sakthivel said.

Industrialists who are expected to attend the meeting include Bharti Enterprises Chairman and Group CEO Sunil Bharti Mittal, FICCI senior Vice-President Sidharth Birla, Jubilant Life Sciences CMD Hari S Bhartia, Hero Group chief Pawan Munjal and Onkar S Kanwar of Apollo Tyres.

 

Go to Top

Photo Gallery
Football Players From Tamil Nadu pay tribute to Tamil Nadu Chief Minister Jayalalithaa...

Football Players From Tamil Nadu pay tribute to Tamil Nadu Chief Minister Jayalalithaa...

Well wishers of Tamil Nadu Chief Minister Jayalalithaa Jayaraman cry outside a hospital...

Well wishers of Tamil Nadu Chief Minister Jayalalithaa Jayaraman cry outside a hospital...

Prime Minister Narendra Modi pays his last respects to Tamil Nadu's former Chief Minister Jayaram...

Prime Minister Narendra Modi pays his last respects to Tamil Nadu's former Chief Minister Jayaram...

People pay homage to the body of Jayalalithaa Jayaram, a powerful politician...

People pay homage to the body of Jayalalithaa Jayaram, a powerful politician...

People pay homage to the body of Jayalalithaa Jayaram, a powerful politician who died...

People pay homage to the body of Jayalalithaa Jayaram, a powerful politician who died...

People paying their last respects to Tamil Nadu's former Chief Minister Jayaram Jayalalithaa...

People paying their last respects to Tamil Nadu's former Chief Minister Jayaram Jayalalithaa...

A woman walks past a portrait of J. Jayalalithaa, Chief Minister of the southern state...

A woman walks past a portrait of J. Jayalalithaa, Chief Minister of the southern state...

A cleaner machine cleans Dal Lake during heavy fog in Srinagar on Monday...

A cleaner machine cleans Dal Lake during heavy fog in Srinagar on Monday...

Artists paint graffiti on a wall to promote cleanliness in Civil Line in Gurugram on Monday...

Artists paint graffiti on a wall to promote cleanliness in Civil Line in Gurugram on Monday...

Bollywood actors Salman Khan and Shahrukh Khan during the 23rd Annual Star Screen Awards 2016...

Bollywood actors Salman Khan and Shahrukh Khan during the 23rd Annual Star Screen Awards 2016...

Like us on Facebook

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523