EEPC Not Happy with RBI Measures, Asks for Special Package to Face Covid Recovered China which will Flood the Market

Relaxations and forbearance given by the RBI on loans would help the industry and the exporting units, particularly in the Small and Medium Enterprises (SME) segments. However, as the RBI Governor Mr Shaktikanta Das has cited the report of the World Trade Organisation, the global trade is expected to decline up to 32 per cent in 2020 in the face of Coronavirus forcing major economies to lock down.

Under these circumstances, the merchandise exporters face the gravest of threats and would need a special package from the RBI and government.

As China is recovering from the impact of pandemic, it would flood the desperate global markets with essential supplies. India needs to have a specific strategy which should ride on empowering exporters to deal with this unprecedented challenge.