Govt. to consider suggestions put forward by FIEO related to GST exemptions to exporters instead of refund mechanized proposed in the Draft.

Govt. to consider suggestions put forward by FIEO related to GST exemptions to exporters instead of  refund mechanized proposed in the Draft.

EXPORT DATA ENCOURAGING - FIEO

While expressed happiness on continuation of double digit month on month export growth Dr. A. Sakthivel, Regional Chairman, FIEO said that during April 2017  growth of 19.77% shows that India’s manufacturing sector is competitive and can face challenges of today including various non-tariff barriers and market restrictions by developed nations.  

This export growth is in the context of Rupee become stronger and major markets still not showing expected growth.  While commenting on export data released for the month of April 2017, Dr. Sakthivel said that excluding petroleum and Gems & Jewellery export growth poised to the tune of US$ 17.72 billion as against 15.14 billion for April 2016 which shows an increase of 17.06 which is highly encouraging.  

Our export to major market shows excellent performance – USA: 4.74, EU: 0.16%, Japan: 13.3% and this need to be maintained, he added.  

Dr. A. Sakthivel, Regional Chairman, FIEO 

However, FIEO Chairman expressed his concern over negative growth in India’s export to China which is the third largest market for India after EU and US. During April 2017, India’s export shown negative growth of 1.56%.  

FIEO Chairman also urge the exporters to give more focus on exporting to Latin America, Africa and CIS Region for continuation of  double digit growth.

Dr. Sakthivel also urged the Govt. to consider suggestions put forward by FIEO related to GST exemptions to exporters instead of  refund mechanized proposed in the Draft.

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