Speaking at a meeting jointly organised by the Federation of Indian Export Organisation, Bangalore Chamber of Industry & Commerce, Federation of Karnataka Chamber of Commerce & Industry (FKCCI), and VITC, Khullar called for increased capital formation and investment from the exporters to tide through the recession.
Further, ruling out any further sops for the sector in the coming financial year, he warned them not to live in false hopes, but to expand both their market reach and product basket in order to be competent in the global economy.
Meanwhile, Khullar pointed out that high budgetary constraint could be one of the reasons for the ministry to hold back incentives in the coming year.
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