SHIPPING TIMES 12 JUNE 2019.
_____________________________
New Delhi June 11 Mr Piyush Goyal the commerce and industry Minister has taken a number of major decisions to boost exports and industrial growth.The work on some of these decitions.ranging from fast tracking anti dumping investigations into goods in the micro small and medium enterprises (MSME)category to initiating research on reducing import dependence will begin pretty soon says a report .
Most of the decision received the Ministers nod after he held a 10 hours meeting with export promotion councils industry bodies and officials from the center and state governments .
In of the major decisions the government has decided to initiate an investigation in to the top 50 tariff lines, constituting 60 per cent of India s importers to find ways to reduce import dependence
Besides officials have been asked to work with state governments to identify 50 manufacturing clusters across the country . priority will be given to micro , small and medium enterprises and most clusters will have a mix of various industries catering to a complete value chain in a particuler geography.
it is learnt many of these clusters will focus on import substitution especially for goods in the engineering textiles and electronics sectors .
The department for promotion of industry and internal Trade (DPIIT) has been asked to work with industry bodies to organize a national investor promotion event in the next six to nine months while such investment sum mits have mostly focused on foreign investors this sum mit would give equal importance to domestic investors reports said .
export credit agencies have been directed to shift focus from subsidies to felicitating cheaper availability of loan in foreign currencies to exporters by June 30 2019 .
Similarly both export credit Guarantee corporation of India (ECGC) and exim bank have been told to speedily raise their loan dis bursals to exporters ECGC will enable a credit guarantee to cover foreign currency lending to MSME while the exim bank will provide refinance in foreign currency to commercial banks to support all exporters . MSME continue to remain a key focus for Mr goyal who has also directed ECGC to extend export factoring for MSME said the export.
_____________________________
New Delhi June 11 Mr Piyush Goyal the commerce and industry Minister has taken a number of major decisions to boost exports and industrial growth.The work on some of these decitions.ranging from fast tracking anti dumping investigations into goods in the micro small and medium enterprises (MSME)category to initiating research on reducing import dependence will begin pretty soon says a report .
Most of the decision received the Ministers nod after he held a 10 hours meeting with export promotion councils industry bodies and officials from the center and state governments .
In of the major decisions the government has decided to initiate an investigation in to the top 50 tariff lines, constituting 60 per cent of India s importers to find ways to reduce import dependence
Besides officials have been asked to work with state governments to identify 50 manufacturing clusters across the country . priority will be given to micro , small and medium enterprises and most clusters will have a mix of various industries catering to a complete value chain in a particuler geography.
it is learnt many of these clusters will focus on import substitution especially for goods in the engineering textiles and electronics sectors .
The department for promotion of industry and internal Trade (DPIIT) has been asked to work with industry bodies to organize a national investor promotion event in the next six to nine months while such investment sum mits have mostly focused on foreign investors this sum mit would give equal importance to domestic investors reports said .
export credit agencies have been directed to shift focus from subsidies to felicitating cheaper availability of loan in foreign currencies to exporters by June 30 2019 .
Similarly both export credit Guarantee corporation of India (ECGC) and exim bank have been told to speedily raise their loan dis bursals to exporters ECGC will enable a credit guarantee to cover foreign currency lending to MSME while the exim bank will provide refinance in foreign currency to commercial banks to support all exporters . MSME continue to remain a key focus for Mr goyal who has also directed ECGC to extend export factoring for MSME said the export.
No comments:
Post a Comment