The Confederation of Indian Industry (CII) welcomes the announcement by the Government of India to provide a relief to exporters who have been hit severely by the sharp appreciation of the Rupee.
The Chairman of CII Trade Committee, Mr. Sanjay Budhia, said this package announced will provide some relief to small and medium industry, which has been hit the most.
The nine sectors – Textiles (including Handlooms), Readymade Garments, Leather Products, Handicrafts, Engineering Products, Processed Agricultural Products, Marine Products, Sports Goods and Toys – chosen by the Government, Mr. Budhia said also represent a significant portion of India's export basket. Specifically the reduction in interest rates on pre and post shipment will help exporters Mr. Budhia said.
We are hopeful that given the undue hardship faced by the exporters, the Ministry of Finance will provide some more relief measures, said Mr. Budhia.
Confederation of Indian Industry
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