Commerce and Industry Minister Piyush Goyal, while addressing exporters on the initiatives on Export Finance and Project Exports in Mumbai said that India is ahead of target in export plans this year. Despite challenges brought by the pandemic induced lockdown which include container shortage and high freight charges, India will have exports worth $190 billion plus by the end of September.
Top exporters from across the country shared their experiences with the Minister. Goyal also addressed key concerns of the exporter fraternity including interest equalization, borrowing FOREX loans. Goyal also said that all the concerns of the exporting fraternity will be resolved.
The Minister also advised on having a chat box on the official website of Commerce Ministry to let exporters raise their issues which could be regularly discussed with the Banking Fraternity. He also advised banks to look at relaxing restrictions for the exporters whose payments were delayed due owing to the pandemic.
"The export industry is at the cusp of exponential growth in the future. We are trying to bring quality and productivity and work and the aim is to bring much more transformation," he said.
Managing Director, India Exim Bank, Harsha Bangari along with Chairman & Managing Director, ECGC, M. Senthilnathan were also be present on the occasion.
There were presentations on key issues important to exports and economy which include the problems faced by the exporters; Export Finance – towards USD 400 bn target exports; Project Exports – Perspective from export community. India Exim Bank also explained the prospects and constraints of financing project exports.
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