October 6, 2017 9:12 PM

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Suresh Prabhu holds meet to give fillip to export sector

Commerce and Industry Minister Suresh Prabhu on Friday held a meeting in New Delhi with leading Exporters, Export Promotion Councils, Associations and Local Chambers with a view to give a fillip to the export sector. <br/><br/>Union Minister for Textiles Smriti Irani, Minister of State for Commerce and Industry R Chaudhary and senior officials participated in the discussions. <br/><br/>Talking to reporters after the meeting, Mr Prabhu said, it was agreed in the meeting that each of the export promotion councils will prepare a concrete strategic action plan to boost export focussing on specific products.<br/><br/>He said, the primary mandate of the Commerce Ministry is to promote export and deal with trade related issues. He also assured stakeholders of working together to boost exports and the need to enhance competencies to give a push to the country's efforts to enhance exports. The deliberations in the meeting flagged global and domestic challenges faced by exporters. <br/><br/>GST related issues regarding working capital blockage, delay in refunds were raised by exporters. In the context of mid-term review of the Foreign Trade Policy, exporters requested inclusion of more products under Merchandise Exports from India Scheme and Interest Equalisation Scheme and increase in the rates of incentive and interest subvention rates.

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