The Federation of Indian Exporters organisatin (FIEO) has urged the
government to announce extension of interest equailisation scheme and intiate
measure to augment the flow of empty containers and meet the acute shortage
faced by Exporters.
The Goverment should also set up a Regulatory Authority to seek justification
from Global Shipping Lines for resorting to massive freight hike in select
sectors. The Exporters organisation also acknowledged the slew of measures
announced by the government to support Exports.
Govt urged to
provide freight support to all exports till 31st March 2022
FIEO has also urged the government to provide freight support to all
exports till 31st March 2022 taking into account the fact that the freight
rates have skyrocketed and are likely to come down by March next year
The Federation of Indian Exporters Organisation President, Dr A Sakthivel was reacting to the monthly exports performance of 35.47 billion US dollars with an impressive double-digit growth of
more than 42 percent.
The FIEO Chief also praised efforts of the exporting community, who have
continued to perform remarkably well during these challenging times
The monthly trade data for October signifies the importance of opening up
and further recovery of economies across the globe coupled with buoyant order
booking position across sectors. This has not only added positive sentiment for
exports but has also further enthused the exporters to perform with much more
vigour and zeal thereby achieving the USD 400 billion merchandise exports
target in the current fiscal
The top sectors, which performed impressively during the month were
Engineering Goods, Petroleum Products, Gem and Jewellery, Organic and Inorganic
Chemicals, Drugs and Pharmaceuticals, Electronic Goods, Cotton
Yarn/Fabrics/Made-ups, Handloom Products, Ready Made Garments of All Textiles,
Marine Products and Plastic & Linoleum.
He emphasised that many labour-intensive sectors were major contributors,
which itself is a good sign, further helping job creation in the country.
However, imports yet again clocking over 55 billion US dollars with a
growth of over 62 percent during the month should be analysed, said Dr A