Piyush Goyal assure easier availability of export credit at cheaper rates

Union Minister of Commerce and Industry & Railways, Piyush Goyal assured that easier availability of credit at cheaper rates to exporters will be resolved expeditiously and customs clearances will be made quicker by installing X Ray scanners at all major Ports.

Robust mechanism for Track & Trace in Pharma sector will be implemented in three months, a new scheme to rebate state and central taxes and levies will be rolled out in  3 months and will be implemented in a phased manner for all sectors, the Minister added.

He chaired a joint Meeting of Board of Trade and Council of Trade Development & Promotion and held a day long interaction with the industry and Agriculture Ministers of the States, industrialists, Export Promotion Councils, and representatives of the economic and infrastructure Ministries of the Central Government for boosting exports and domestic manufacturing and reducing trade deficit.

Piyush Goyal said that Ministries/departments can no longer work in isolation for effective outcome of government policy. The Commerce and Industry Minister further said that action on many of the decisions arrived at today’s meeting will be taken in next 45 days. He also announced that the next follow up meeting would be held in 45 days.

During the day-long deliberations, exporters spoke about trade disputes between US and China, ongoing negotiations under Regional Comprehensive Economic Partnership, difficulties in availability of export credit. Specific action points for the implementation of new Agricultural Export Policy, reducing logistics costs, improving ease of doing business in all States, increasing domestic manufacturing and reducing imports were identified.

States were urged to finalise their export strategies at the earliest keeping in view their state specific requirements and advantages. Commerce and Industry Minister exhorted the State Governments to adopt GeM, a one stop online procurement portal for better transparency and efficiency. State Government agreed to take steps in strengthening the entrepreneurship and start up ecosystem.

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