Thursday, Dec 13 2018 | Time 23:53 Hrs(IST)
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Bank credit issue of exporters yet to be resolved: FIEO President

Hyderabad, Dec 6 (UNI) Federation of Indian Export Organisation (FIEO) President, Mr Ganesh Kumar Gupta on Thursday said that the bank credit issue of exporters are yet to be resolved to achieve higher double growth in Exports.

In a statement, Gupta said PSU Banks officials including MDs, EDs, GMs, AGMs are not accessible to exporters particularly from the MSME sector. This has tightened the hands of these exporters to take orders.

As they are not able to discuss issues and challenges with regard to availability and cost of credit to the exports sector, he said Commerce Minister, Mr Suresh Prabhu, who is taking several steps to promote exports, would not fructify if banks would not lend to exporters smoothly and at affordable rates.

On one hand, the government is pushing digital India initiative and paperless transactions, these banks demand bundles of documents, collateral and other papers for considering their applications for smaller limit (Rs one to five crores) of loan, he pointed out.

It takes months and months to get these limits approved and in the meantime, we lose our orders, Gupta said that the issue needs urgent attention of the government.

The government should focus to register double digit growth rate in exports, includes -- enhancement of Duty Drawback rates; more products like fabrics should be included under MEIS; to promote exports of GI products, government should join hands with FIEO to set up big stores at airports also GST refunds at airports should start immediately.

These measures would help in reaching USD 350 billion exports and recording substantial growth rates, he added.
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Deccan Health Care Ltd to come out with IPO on Dec 18

13 Dec 2018 | 8:49 PM

Mumbai, Dec 13 (UNI) Health product manufacturing company, Deccan
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13 Dec 2018 | 8:25 PM

Hyderabad, Dec 13 (UNI) The oldest motorcycle brand in continuous production, Royal Enfield, has launched highly anticipated twin motorcycles – Interceptor INT 650 and Continental GT 650 here on Thursday.

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Nissan cars to cost 4 pc more from Jan

Nissan cars to cost 4 pc more from Jan

13 Dec 2018 | 8:17 PM

Chennai, Dec 13 (UNI) Nissan India on Thrusday announced a price
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KVIC's multi-disciplinary training centre opened at Gandhi Darshan

KVIC's multi-disciplinary training centre opened at Gandhi Darshan

13 Dec 2018 | 8:12 PM

New Delhi, Dec 13 (UNI) Union Micro, Small and Medium Enterprises Minister Giriraj Singh inaugurated a multi-disciplinary training centre “Samadhan” of Khadi and Village Industries Commission (KVIC) at Gandhi Darshan, Rajghat on Thursday.

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