look news india
Mumbai: In a meeting with Commerce and Industry Minister Piyush Goyal, the country's exporters requested to remove non-tariff barriers in the export sector. The exports of a country are affected as a result of non-tariff barriers imposed by trading partner countries.
Exports affected due to non-tariff barriers in trading partner countries
Federation of Indian Export Organisations (FOI), an exporters' body, had requested the Commerce Ministry to set up a separate department to deal with such issues.
Such division would avoid difficulties faced by industries in raising issues at bilateral or regional level.
This was the first meeting between the Commerce Minister and exporters after the Modi government came back to power. An exporter who attended the meeting said, we are lagging behind in showing exports due to lack of Market Access Initiative (MAI) funds.
Exporters claimed that the fund of Rs 200 crore was insufficient to support the country's exports of over $500 billion. The government should allocate Rs 500 crore annually for this fund as the cost of participating in exports has increased. There has also been a demand to extend the low interest rate scheme for exporters by five years.
