Contact Your Financial Adviser Money Making MC
29
May 2018
 |
India's exports (The Total Investment & Insurance Solutions)
India's exports are expected to record a growth
of about 15-20 per cent and touch USD 350 billion in the current fiscal on
account of a host of factors including rise in commodity prices, exporters body
FIEO said today.
Federation of Indian Export Organisations (FIEO) President Ganesh Gupta
said despite increasing global protectionism, the country's exports would
continue to register healthy growth rates. The Total Investment & Insurance Solutions
"Growth is looking promising this fiscal. Indian exports, which are
hovering at around USD 300 billion, should show 15-20 per cent growth so as to
reach USD 350 billion in this fiscal," he told reporters here.
He said the northward movement in petroleum and commodity prices and the
recent depreciation of Indian rupee are supporting exports.
He also urged the government to provide fiscal and non-fiscal incentives
to boost the shipments in both advanced and emerging markets.
Gupta also said that although exports have recorded growth in 2017-18,
labour intensive sectors such as carpet and handicrafts have definitely dented
the job creation opportunities. The
Total Investment & Insurance Solutions
"On a rough estimate, over USD 1 million exports create 100 jobs.
Therefore, additional exports of USD 27 billion in 2017-18 should have created
2.7 million jobs in exports," he added. In 2017-18, exports stood at about
USD 303 billion.
Talking about the issues being faced by exports at insurance front,
Gupta said that Export Credit Guarantee Corporation of India (ECGC) delay the
process of claims, which impact exporters.
"ECGC is creating problems for exporters. They try to find how to
reject the claims of exporters. We have raised the issue with the commerce
ministry," he added. The Total
Investment & Insurance Solutions
Further, Gupta expressed hope that the government will pro-actively
engage with trading partners particularly with the US so that the trade
interest of the country is safeguarded.
The Total Investment & Insurance Solutions
Commenting on the US decision to impose economic sanctions on Iran,
Gupta said it would create an opportunity for domestic exporters to increase
their shipments to that country. The
Total Investment & Insurance Solutions
He said that when the sanctions were imposed during 2013-14, the
country's exports to Iran increased to USD 5 billion and it was only USD 2.56
billion last year. The Total Investment
& Insurance Solutions
"The crucial issue is that what kind of sanctions are being imposed
by the US. This time Europe is not there. If sanctions will be imposed on the
financial system, it may create a challenge for us but otherwise it will help
boost rupee exports to Iran," he said. The Total Investment & Insurance Solutions
In such situation, Indian banks should help exporters by providing
affordable credit. The Total Investment
& Insurance Solutions
"I do not feel that India's exports will be impacted due to the US
sanctions," he said.The Total
Investment & Insurance Solutions
No comments:
Post a Comment