India ahead of its exports goal despite Covid-19: Piyush Goyal
WAREHOUSING & LOGISTICS

India ahead of its exports goal despite Covid-19: Piyush Goyal

Minister of Commerce and Industry Piyush Goyal, during an interaction with bankers and exporters on export financing issues, said that despite Covid-19 and other problems, India is ahead of its exports goal.

They will be at around $190 billion by the end of September 2021.

Stating that this is the first time crossing this figure in the first six months of the FY, the minister said that the exports are at the cusp of exponential rise. The government is operating to bring a quantum leap in quality, productivity and effectiveness, to make the export basket better, larger and broader.

Goyal also urged the exporters to create small working groups and consider basic structural improvements to get released from clutches of government support.

Further continuing his discussions on the role of banks in helping the exporters, Goyal advised banks to be more liberal concerning exchange rates and provide benefits instead of penalising MSMEs. Asking the Indian Bank Association for utilising a more liberal approach, he said that the credit rating, penal interest, and penal insurance charged requires more liberalisation under the challenges encountered due to the Covid-19 pandemic.

The event, which was held as a part of 'Vanijya Saptah', was organised together by the Directorate General of Foreign Trade, Department of Commerce, Export-Import Bank of India and Export Credit Guarantee Corporation of India.

Image Source


Also read: Steel sector ramps up exports as domestic demand slumps

Also read: DGTR recommends anti-dumping duty on aluminium imports

Minister of Commerce and Industry Piyush Goyal, during an interaction with bankers and exporters on export financing issues, said that despite Covid-19 and other problems, India is ahead of its exports goal. They will be at around $190 billion by the end of September 2021. Stating that this is the first time crossing this figure in the first six months of the FY, the minister said that the exports are at the cusp of exponential rise. The government is operating to bring a quantum leap in quality, productivity and effectiveness, to make the export basket better, larger and broader. Goyal also urged the exporters to create small working groups and consider basic structural improvements to get released from clutches of government support. Further continuing his discussions on the role of banks in helping the exporters, Goyal advised banks to be more liberal concerning exchange rates and provide benefits instead of penalising MSMEs. Asking the Indian Bank Association for utilising a more liberal approach, he said that the credit rating, penal interest, and penal insurance charged requires more liberalisation under the challenges encountered due to the Covid-19 pandemic. The event, which was held as a part of 'Vanijya Saptah', was organised together by the Directorate General of Foreign Trade, Department of Commerce, Export-Import Bank of India and Export Credit Guarantee Corporation of India. Image SourceAlso read: Steel sector ramps up exports as domestic demand slumps Also read: DGTR recommends anti-dumping duty on aluminium imports

Next Story
Infrastructure Urban

CONCOR Launches Double-stack Service Between NCR and Varnama

State-run Container Corporation of India (CONCOR) has launched double-stack container train services between the National Capital Region (NCR) and Varnama near Baroda. This initiative aims to facilitate customers at Nhava Sheva near Mumbai, home to Jawaharlal Nehru Port (J N Port). On December 21, the first double-stack container train from Khatuwas and Dadri in NCR reached CONCOR’s Gati Shakti Multimodal Cargo Terminal (GCT) at Varnama, situated along the Western Dedicated Freight Corridor (WDFC). The train carried export cargo destined for J N Port, according to a statement from the state..

Next Story
Infrastructure Transport

Less than 10% of Rs 40 Billion State-aid for Shipbuilding Utilised

A government-sanctioned financial assistance program worth Rs 40 billion, intended to support local shipbuilders over a decade starting in April 2016, has seen minimal utilisation, with only Rs 3.85 billion—less than 10 per cent of the total fund—disbursed thus far. With 15 months remaining before the scheme concludes, its uptake has been limited. The financial aid applies to shipbuilding contracts signed between April 1, 2016, and March 31, 2026. According to a written response provided by Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal to the Rajya Sabha on December ..

Next Story
Infrastructure Transport

Civil Aviation Minister Opens New ATC Tower at Indore Airport

The Minister for Civil Aviation, Ram Mohan Naidu Kinjarapu, inaugurated the new Air Traffic Control (ATC) Tower-cum-technical block at Devi Ahilyabai Holkar International Airport in Indore, Madhya Pradesh. During the inauguration, the minister toured the facility, where ATC experts explained various technical aspects of tracking and coordinating flights from the newly constructed tower. In addition to the ATC tower, the airport has also introduced a zero-waste plant. The union minister confirmed that this initiative aligns with the government’s commitment to sustainability. Minister Ki..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000