Exports likely to Touch USD 300 bn Mark this Fiscal but Rising Trade Deficit Takes Sheen Away: President, FIEO

Reacting to the Trade Data for the month of December, 2017, Mr Ganesh Kumar Gupta, President, FIEO said that positive growth for second month in a row, after a fall in October 2017, shows resilience of the Indian exporters. Since we have already achieved exports worth USD 224 billion in first 9 months of the fiscal and global trade growth remains robust in 2018, we are on our course to achieve the milestone of USD 300 billion in 2017-18, said FIEO Chief.

Mr Gupta said that while IGST refund is settling down except for ICDs, exporters are having huge problem in getting refund of ITC both due to ignorance and recalcitrant approach of the tax authorities. FIEO President said that exporters should be given reasons for the delay and there should be close monitoring of GST refund for exports on day to day basis.