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Exports down, time for govt. to stop dilly-dallying
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Bikky Khosla | 02 Dec, 2008
I think enough has been said but nothing has been done. As exports for October 2008 dipped by 12 percent owing to sluggish consumption in nations experiencing a slowdown, the government is yet to come up with a package to help exporters tide over the current credit crisis and weak global demand. I really wonder when our authorities are going to wake up and feel the plight of the exporters and act.
Every official in the Commerce Ministry seems to be engaged in giving sound bytes to the media on the fallout and effects of global slowdown on our merchandise exports, but none is able to give an answer to what the government is doing or will do to help the exporters.
Exporters are feeling the heat from decline in export order and high costs of transaction and if some measures are not put in place immediately, the situation is likely to worsen in the months to come.
Is it a tall order to ask the authorities to bring the export finance at less than five percent as is the worldwide norm? On one hand we take pride in saying that our country's think-tank and bureaucrats are the best in the world, on the other, I wonder does it really take so much time just to comprehend that the income-tax exemption benefit to all exporters must be restored at a time when they need it most - that is now? When will measures like restoration of interest subvention scheme and increased duty drawback rates be announced? I think it's nothing but dilly-dallying, which has to stop at once.
Yes, the recently announced measures like extending the period of entitlement for pre-shipment and post-shipment rupee export credit will help exporters to tide over the gloomy situation to some extent, but these are inadequate measures. Instead of implementing measures in bits and parts, the government should announce a comprehensive package for exporters at one go.
Additionally, intelligence and operational failures in the recent Mumbai attacks that saw hundreds of casualties have hurt India's image as an economic power. As as our leaders make one insensitive remark after another, undeniably people will now hesitate to do business with India. And the aftermath of the attacks are already visible with foreign buyers canceling or postponing business visits to India. Since buyers of some sectors like garment, handicrafts, etc. need to see a model product before finalizing orders, canceling visits means nothing less than cancellation of orders.
Overall, the confidence of the Indian population in general and the exporters in particular is shaken on two accounts - on whether their leaders can keep them safe and also whether they are competent enough to provide them some relief when the market realities are not favourable.
Till now the government has shown no urgency in announcing the package for the exporters. God knows how much further loss we need to bear before the authorities wake up. So much for expecting our leaders to bail us out!
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Indians words power and loose work power
Devadas | Sat Dec 6 18:33:32 2008
firstly think that our intelligence agencies are very smart and strong. It would be. How this will benefit by reading. Our hairs on body straightening by proud. Of course some feel it. Listen first there is lot of crazy fans in Pakistan. They think by media and other sources India defame them. How our brothers feel like this. Who is responsible for that. Do not think of any
religion in this case. It is made by someone to keep people faith in God. But some external elements keep two relgions each to fight. Everybody know the history. There is no muslim or Christian
in old Indian continental. These all appeared by power motivation of people. Come to the point. As Pakistan lost the venue of cricket some people may think to
do the same in India. But their some worst elements made it good for them also. Really most Pakistan or Indian people like to destruct the border. But some relgious elements will stay if external forces from western country keep
support for their benefit. See what will happen to England. It will maul by water.
So many christian elements tell poor people in India staying tribal and mountain area that Christian God angry against Hindu God. Meanwhile some Hindu
elements make people fool by making trouble by themself in the name of others. How to tackle all these problems means should not believe those who come with smiles and put their hand on your shoulders and tell we can do something for you. But a vast precognition power and view should be keep.
Exports down, authorities sleeping ......
Ashwin | Thu Dec 4 05:55:25 2008
Very much agree but nothing new Bikky, Oopar se clearance nahin aaya ie High Command se. Like all other cases action comes when we are much deeper in the doldrums, you know files have to be cleared by 101 useless babus first ! Its pathetic, we are surviving on our steam and efforts as always, we are too small really to have any other choice.When the foreign exchange depletes to dangerous levels then they will run after us.... not before that for sure. Cheers
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Re: Exports down, authorities sleeping ......
Pooja sawhney | Thu Dec 4 07:16:24 2008
So what if we r small.. we all combined can do wonders.. and raise voice against them..
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Re: Re: Exports down, authorities sleeping ......
Devadas | Sat Dec 6 18:44:14 2008
We should be aware means people, that we have power elect some one to Cabinet or
Panchayat and Muncipality. Why we are electing them. What kind of Karma they can do for the prosperity of Nation by keeping their community or society or native place with enviornment friendly, clean atmosphere to have a good health and small scale industries to be promoted for their day to day living expense. For this we should be aware of what kind of sources we have to do something which can be a branded products for export. A collector is not mere a collector for Central Government. He should be aware of the region in which he can independetly do some useful
measure for the sake of people. Most people are not aware that some policies are made for poor and others to protect and save them from trouble by Central and State Government. Buerocrat tryig to play micky mouse to get some money to enlarge their pocket. Go and see how china giving induce for the people. Now
they are keeping their vast hand on the world by hardwork and self motive.
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