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Govt. must come out with relief package for SME exporters
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Bikky Khosla | 11 Nov, 2008
The month-end may bring some good news for SME exporters. There are speculations rife that in a bid to bail out the export sector hit by the global financial crisis, the government is likely to grant a relief package to all small and medium export units hit by foreign banks defaulting payments.
There are even reports that the government may go ahead and provide group insurance coverage for all unorganized workers in these industries by paying a premium.
The relief package, particularly for SME exporters, may help them to recover from defaults made by foreign entities in honouring payment obligations to Indian exporters... itâll be a good thing if the announcement really does come.
Having said that, the government should also give financial assistance to ECGC to ensure that they take a higher risk to cover SME exporters.
Already the export growth rate slipped to 15 percent in October, the lowest in five years with the country facing a threat of dwindling exports as leading world economies are heading towards a slowdown.
Industry circles have already predicted that exports are likely to witness a shortfall of about 20% against their target of US$ 200 billion for 2008-09 as prevailing domestic economic conditions have caused severe dampening effects on potential exports segments of Indian economy.
So the authorities should also come up with steps to provide cheaper credit to exporters and should extend the tenure of pre- and post- shipment from the present 90 and 270 days respectively.
I have reasons to say that the government should hike the entitlement of the duty credit scrip under the focus market scheme from the existing 2.5% of the FOB value of exports if they really want to provide some relief to the exim community.
If the reports are true, then it will indeed be a good news for exporters who are already reeling under recessionary trends to sustain their past export buoyancy.
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Save Indian SMEs from China
Kailash Chander Vashist | Tue Nov 18 05:45:13 2008
At this recession period, one of the best solution is to save Indian SMEs is to give/ provide protection from China dumping in the Indian markets. And to make sure that corrupt/ sold out policy-makers do not make policies in China's favour. Fabrics, toys, tiles, crockery, footwear, etc. are such goods which can be banned directly or indirectly immediately from import. The exercise can clearly save our manufacturers from recession.
RELEIF FOR SME EXPORTERS.
R.PRASANNA VENKATESAN,Chairman-PRASAN | Thu Nov 13 03:07:54 2008
Dear Bikky,
THE relief should be doubled to 5% from the existing 2.5%, which is a pittance.NOW IS THE TIME FOR SMEs TO EXPORT AGGRESSIVELY TO US, AS THE DOLLAR HAS GONE UP and all our big brothers, are blind in aut the SMEs should wake up, change their ways of doing business and run an extra ile to export, to countries, like US, Europe, Russia, China, Middle East and Far East. If an unknown black, inAmerica can take on the mighty Hillary and the money bags of McCain and the voluptuous Sarah Paulin, why not our SMEs? Our boys at Thiruppur, Coimbatore, Ludiana have done it. WHY NOT YOU? Believe in yourself and this great country and its people and youwill achieve, the goal.Godspeed and best wishes.
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Re: RELEIF FOR SME EXPORTERS.
KC Vashist | Thu Nov 13 15:07:33 2008
Govt. should immediately take step to enforce anti dumping and also increase duties against china to save Indian Industries. And this is the right time to do so to bring down china at it's knee as India is the largest importer of many goods. This is crucial time for chinese Industries.china will stop going against india;Iran gas pipeline,
Bombblasts,Arunachal area,using pakistan against India,blocking neuclear Energy treaty,blocking oil deals,etc.
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Re: Re: RELEIF FOR SME EXPORTERS.
RAVI GUPTA | Wed Nov 26 13:59:03 2008
BEARING INDUSTRY IN SME SECTOR is BADLY HIT due to CHINA DUMPING ALMOST 70 % HAS ALREADY CLOSED DOWN IN JAIPUR REST IS ON OXYGEN IF GOVET DOES NOT BAN CHINESE BEARINGS REMAINING INDUSTRY ALSO WILL BE WIPED OUT .
SO REQUEST POLICY MAKERS TO SAVE THIS BALANCE INDUSTRY FROM CHINESE DUMPING
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