Commerce Minister Tells
Officers to Help Exporters “Yesterday” Instead of “Tomorrow
•
India
Serious on RCEP (ASEAN 10 + China, Japan, Korea + Australia – New Zealand,
India)
•
Exporters
say that April 2016 will Reverse Falling Trend
Nirmala Sitharaman, Commerce held a meeting on 2 February with the
Chairpersons of major Export Promotion Councils to review the current trend of
exports from India and to take stock of issues faced by the exporters.
Taking note of the concerns expressed by the Export Promotion
Bodies, the officers in the Department of Commerce were directed by the
Minister to take up with concerned administrative Ministries on sectoral issues bilaterally or multi-laterally as may be
needed. She impressed upon the officers the need for resolving matters on
“yesterday basis” rather than on a “tomorrow basis”.
The Minister was clarified that the ASEAN FTA is under review
and she sought feedback for the same from all the industry members. Other trade
agreements like RCEP, are on the anvil and for which Department of Commerce is
frequently meeting the industry members from all sectors. (RCEP covers ASEAN 10
with Japan, Korea and China from East Asia and Australia-New Zealand from
Pacific. 10 rounds have been held. Another 4 rounds are proposed with
conclusion in September this year).
Exporters say that in terms of volume, most of the
commodities have shown resilience and have maintained the levels achieved in
the previous fiscal 2014-15. Trade prospects would start looking up from the
second quarter of 2016-17. The recent downturn in exports from India was
attributable to factors like reduction in commodities prices, lack of demand in
key markets and currency devaluation/fluctuation, some of which was also linked
to fall in petroleum prices.
Exporters were apprehensive that EDI in DGFT was good but
ground level experience was not so good.
DGFT
said disbursements under duty drawback were up, as against Rs.27053.00 crores
disbursed during 1.1. 2014 to 26.1.2015, an amount of Rs.28440.00 crores was
disbursed during the corresponding period of 2015–16. Benefits provided under
major DGFT Schemes like Export Incentives, Advance Authorisation, and DFIA have
in the first 10 months of the current fiscal show proportionately higher
figures as against 2014-15 (Chapter – 3 Incentives, Advance Aurhorisation/DFIA,
EPCG Authorisations have shown values of Rs.9387.00 crore; Rs.140860.00 crore
and Rs.10693 crores respectively), which substantiated the progressive steps
taken by the Department to support exports.