Dr. A. Sakthivel, Regional Chairman, FIEO Southern Region
Urged Union Minister for State for Commerce and Industry to compensate
additional transaction cost due to implementation of GST through FTP
provisions.
Dr. A. Sakthivel, Regional Chairman, FIEO Southern Region
met Hon’ble Minister for State for Commerce and Industry Mrs. Nirmala
Sitharaman today at Delhi and taken up issues of exporters. While
highlighting the issues of exporters related to blockage of funds due to GST,
Dr. Sakthivel urged for additional incentives and revamping incentive schemes
to suit the needs of export sector. Dr. Sakthivel also expressed his
concern on stronger rupee and said that implementation of GST as well as rupee
appreciation started eroding competitiveness of Indian exports and requested
for urgent intervention of Commerce Minister. He also highlighted
his apprehension on huge enhancement of minimum wages and requested
for Minister’s intervention to see that competitiveness of Indian manufacturers
will not be lost to our neighbouring South East Asian countries as new
investments in manufacturing sector is highly depend on cost advantages
especially related to labour.
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Dr. A. Sakthivel, Regional Chairman, FIEO Southern Region |
FIEO Regional Chairman also highlighted the issues of
exporters due to frequent disturbances in Customs EDI / and DGFT
system and said that delay in clearance of goods is seriously affecting the
reliability of Indian exports apart from high transaction cost. He also
urged the Department to look into the liquidity crunch of exporters and
suggested for e-wallet so that exporters can procure raw materials as
well as finished goods for exports without actual payment of GST. Dr.
Sakthivel also sought special scheme for promotion of Indian Brands in international
market.
Hon’ble Minister assured all her support to overcome the
issues of exporters and said that she is working with the Department for
resolving the issues raised.
FIEO - Federation of Indian Export Organisations
Southern Region
Spencer Plaza, Unit No.706,
7th Floor,769,
Anna Salai,
Chennai - 600 002
Phone: +91-44-28497766, 28497755, Fax: +91-44-28496666
Website:http://www.fieo.org
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