Addressing the bankers, Piyush Goyal said that they need to be more generous towards exporters. Together, he also said that by the end of September, the figure of export realization will cross $190 billion.
Union Commerce Minister Piyush Goyal said that the export figure should cross $190 billion by the end of September. The export target for the current financial year has been kept at $400 billion. He said bankers should be “more lenient” on issues like exchange rates to help the export segment. He called for a similar liberal approach on the issue of penal interest rates. He said that due to the Kovid-19 epidemic, payments from foreign markets have been affected.
Addressing an event organized by Exim Bank here, Goyal said, “On issues like exchange rate, I think banks need to be a little more lenient. Banks can give the benefit of two paise.” The same Goyal said in an interaction with exporters at Santacruz Electronic Export Processing Zone, (SEEPZ) Mumbai that the commerce ministry will ease the norms of Special Economic Zones (SEZs) and provide these facilities to units. Trying to make it easier to get out of the areas.
Held an interaction with Exporters at Santacruz Electronics Export Processing Zone in Mumbai.
A clear vision & roadmap can strengthen the trade infrastructure & help achieve our targets for exports as we celebrate #AzadiKaAmritMahotsav. pic.twitter.com/6SiFZWYAAb
— Piyush Goyal (@PiyushGoyal) September 23, 2021
He said that the ministry is also looking at ways to partially de-recognize existing SEZs so that the areas which are not in high demand can be used for industrial or other purposes. In his interaction with the exporters, the Union Minister also said that the government is looking into the various issues raised by the exporters. Giving examples, he said that the Ministry of Commerce, along with the Ministry of Finance, will allow e-commerce for artificial jewelery up to $800. Is also discussing the issues of allowing uninterrupted and depreciation of old goods.
