The Federation of Indian Export Organisations (FIEO) has hailed the GST Council’s landmark decisions aimed at easing liquidity pressures and accelerating refunds for exporters.
“The Council’s approval to release export refunds within seven days based on risk analysis, along with provisional refunds under the inverted duty structure for sectors such as textiles, pharma, chemicals, and fertilisers, is a very welcome move. These reforms will go a long way in reducing working capital blockages and providing timely relief to our exporters,” said SC Ralhan, president of FIEO.
The measures will strengthen India’s export sector while boosting domestic demand by easing supply-chain stress. “A robust export ecosystem inevitably supports domestic manufacturing and consumption. These steps will create a positive multiplier effect across the economy, benefitting both industry and consumers,” Ralhan noted, assuring that industry will pass on cost benefits to consumers.
“Exporters are committed to playing their role in supporting the domestic economy and consumers, while continuing to enhance India’s global competitiveness,” he said in a release.
Allowing refunds below ₹1,000 (~$11.35) is expected to greatly benefit small and e-commerce exporters. FIEO lauded the Council’s responsiveness to industry concerns, expressing confidence that the reforms will enhance India’s trade resilience amid global uncertainties.
ALCHEMPro News Desk (HU)
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