business-india-news

Export growth is loosing momentum: CII

Kolkata, Jan 11 : The Confederation of Indian Industry (CII) has said that the December 2013 trade deficit for India came in at USD 10.14 billion versus USD 17.19 billion in the same month last year.


The reduction was driven by a 15.25 percent fall in imports, which came in at USD 36.49 percent, while exports grew by 3.5 percent to USD 26.35, though exports rose 3.49 percent from year-earlier levels to USD 26.35 billion, but it seems to have lost momentum as exports had been growing at a double-digit rate until October, Sanjay Budhia, Chairman, CII National Committee on Exports said.

"The economic conditions in the US and the euro zone are not very favorable for exports and we hope the Indian government will help the exporters by providing help by way of including more products and countries for Focus Product Scheme and Focus market Scheme, where we have a comparative advantage," said Budhia.

He said, "Also, we need to relook at the duty drawback rates. These measures should be addressed on a priority basis as it will give the necessary push to the industry and help them reach the export target."

Budhia said that the cost of credit is becoming higher as funds for export is available at higher cost.

Timely refund from schemes like Duty Drawback, Excise Rebate and VAT Refund will release the funds and ease the liquidity, he noted.

--IBNS (Posted on 11-01-2014)

business-india-news headlines

TCS posts robust net profit for quarter, fiscal

STORY opens in Kolkata

Zebra Technologies to acquire enterprise business from Motorola Solutions

Airtel launches Night Store

Order for release on interim bail unworkable: Subrata Roy to SC

Diesel under-recovery falls to Rs.5.49/litre

Celebrate this spring with Zyra from Tanishq

Yatra.com raises Rs 140 cr in funding

Punj Lloyd secures Rs 3,254 cr order to develop Libyan city infra

TCS net up 38 percent for fiscal 2013-14

Indian Rupee : Currency Exchange (Forex) Rates - 16 April 2014

Rupee falls to 60.37 against dollar

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014

Comments

Your e-mail:


Your Full Name:


Type verification image:
verification image, type it in the box

Message:

Back to Top