Press Esc to close
Monday 20 October 2014
News updated at 11:09 PM IST
Weather
Max: 30.8°C
Min : 20.1°C
In Bangalore
Sunny day

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
Army recruits during their attestation parade at Madras Regimental Centre, Wellington, Ooty on...

Army recruits during their attestation parade at Madras Regimental Centre, Wellington, Ooty on...

In this Wednesday, Oct. 15, 2014 photo, a Kashmiri woman blocks a road during a protest demanding...

In this Wednesday, Oct. 15, 2014 photo, a Kashmiri woman blocks a road during a protest demanding...

Prime Minister Narendra Modi at the 42nd Convocation of the All India Institute of Medical...

Prime Minister Narendra Modi at the 42nd Convocation of the All India Institute of Medical...

Devendra Fadnavis hugs his mother Savita after his victory during the Assembly election in...

Devendra Fadnavis hugs his mother Savita after his victory during the Assembly election in...

Union Minister of State for Commerce and Industry, Nirmala Sitaraman launching the Online Export...

Union Minister of State for Commerce and Industry, Nirmala Sitaraman launching the Online Export...

Prime Minister Narendra Modi with BJP President Amit Shah after the party's parliamentary...

Prime Minister Narendra Modi with BJP President Amit Shah after the party's parliamentary...

In this Oct. 17, 2014 photo, a thick blanket of smoke is seen against the setting sun as...

In this Oct. 17, 2014 photo, a thick blanket of smoke is seen against the setting sun as...

In this Monday, Oct. 13, 2014 photo, an Indian woman uses her hand to put sawdust in an...

In this Monday, Oct. 13, 2014 photo, an Indian woman uses her hand to put sawdust in an...

(L-R) Asha Bhat, Miss Diva Universe 2014 2nd runner up, Noyonita Lodh, Miss Diva Universe 2014...

(L-R) Asha Bhat, Miss Diva Universe 2014 2nd runner up, Noyonita Lodh, Miss Diva Universe 2014...

An Indian man teaches yoga postures to schoolchildren at Delhi Public School in Hyderabad...

An Indian man teaches yoga postures to schoolchildren at Delhi Public School in Hyderabad...

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