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How to prevent exports downfall?
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Bikky Khosla | 23 Jun, 2015
Exports fell by 20.19 percent in May to $22.34 billion. This is
the sixth straight month that our overseas shipment saw negative growth. In
April the decline rate was 14 percent and in March it was 21 percent.
Needless to say the situation demands urgent attention. Otherwise the economy
is sure to be hit.
Some experts are pointing out that petroleum and gems and
jewellery have impacted the export figures. It is true to a great extent, but I
think this cannot be a source of relief. Even if we exclude these two items
from our export basket still we find an export decline of 9 percent in May and
of 5.7 percent in April. So, we cannot be complacent just by making
oil and gold prices responsible for the ongoing decline in our foreign trade. The
problem is somewhat deeper and lies in lack of competitiveness of India's
exports.
It is right time for the government to take some urgent
steps to prevent this downfall. First of all, export competitiveness must
be increased. I think we need to cut down red tape and regulations
further. In addition, transaction and logistics costs have to be brought down.
Exporters' association FIEO has demanded that the government should come up
with an immediate relief package for the sector. It has also sought urgent
reintroduction of the interest subvention scheme and timely relief of export
benefits. Another industry body ASSOCHAM, on the other hand, has called
for some kind of strategy jointly devised by the ministries of Commerce and Finance. We must not sit idle and just watch.
It has been reported that the Commerce ministry is preparing
a strategy to boost exports of agriculture products on the background of
negative exports of six key products in 2014-15. Tea, spices and tobacco
exports declined 16 percent, 1 percent and 5.2 percent respectively while
cereals, oil meals and fruits and vegetables registered a negative growth of
27.33 percent, 52.73 percent and 8.85 percent in the year. The step is a
welcome one, but I think a similar approach should be taken urgently with
regards to items like engineering goods, gems and jewellery, organic and
inorganic chemicals, pharmaceutical, leather, etc.
I invite your opinions. What steps do you want the
Centre to take to prevent the ongoing downfall in our exports?
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1 Single step to boost exports & MSME Registration
Milan Mehta | Sun Jul 5 13:04:05 2015
In my view, 1 Single step can immediately be taken to step up Exports. Income tax benefits across all sectors ( Only MSME Units ) can immediate make our exports competitive and motivate all present exporters to upgrade their product quality & packaging.
To fine tune the same, more % benefit should start from bottom up. MSME Registered Micro units should get highest % exemption thereafter Small and finally Medium.
That shall also solve the most important problem at Ministry of MSME ( Registration of MSME UNITS ).
Indian Cos. not having any export business shall immediately work on ways to export the products and also get themselves registered with MSME.
The incentive in Income tax must be then gradually reduced year on year basis to lessen the burden on exchequer.
Exports Downfall
Maheshwarlal | Sat Jun 27 11:14:31 2015
As far as Synthetic Fibers and Textiles are concerned, the main hurdle for exports is uncompetitive pries as compared to Global prices. There are many countries like China, Vietnam,Bangladesh, Korea, Indonesia etc.. which exports such synthetic fibers and Textiles at lower prices than India. There is something wrong in Raw Material costing, Taxing and Electricity charges.
Exports downfall
JB | Fri Jun 26 15:07:58 2015
I am Indian born American who was given an opportunity about 14 years ago by my customers to source their engineering goods - preferably from China. I chose to do the sourcing from India instead and speak from that experience. I have lost at least $100 million worth of orders because suppliers did not execute.
While there are some excellent suppliers, the problems I run into very regularly are:
1. Non competitiveness. Often, Indian prices are higher than American domestic pricing by 20 to 50%. More often that not, this is based on using processes that are not competitive.
2. The equipment being used is sub-standard.
3. Not appreciating customer quality needs
4. Lack of commitment to delivery schedules.
If exports are to succeed, India needs to teach its entrepreneurs how to take care of these issues.
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Re: Exports downfall
Yuvaraj | Thu Jul 2 05:04:50 2015
I agree
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Re: Exports downfall
Ujjwal Utsav | Sat Jul 4 12:50:52 2015
Hey JB, To an extent you may be true or strictly to your experiences you can stand tall and san Indian manufacturers, but their is a larger picture, I am a manufacturer and a whole time exporters. We have battery of happy clients we served. Their is humongous difference in policies administering businesses in US and India.
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inquiry
nicholas | Fri Jun 26 07:59:07 2015
hello,thank you for your introduce about your products.
look forward to cop with you
How to prevent exports downfall?
Herbert | Wed Jun 24 17:58:16 2015
I have stated this before and I state it again. If I order technology goods from India and I have to wait 4-5 weeks for the goods to be manufactured (and they are small enough to be shelf products and sell high in volumes) then I have to think twice whether I will order from India and have my money fixed there for 4-5 weeks or whether I order from China, where my goods get dispatched almost immediately. So the blame lies to a great extent on industry too, not only on government.
Export
P.S.Biradar | Wed Jun 24 12:29:48 2015
Our NDA Government is not concentrating on Exports i.e. facilities to small scale industries, medium scale industries. Since the inflation is growing, our products prices are affordable by international community. Our production cost is very high, material cost is very high and corruption is very high. As long as we are not improving all these things, we cannot compete in international market. Also, NDA Govt. is mainly involved in internal matters i.e. Swach Bharat, Welfare of Poor etc. Like this, we cannot think of improvement in exports for another 20 years. Lot of things to be improved inside the country.
One thing nobody is thinking that unless we meet our basic needs like food, shelter,water,electricity, we cannot compete in any field like Sports, Exports etc. We are far far away from the realistic world. Govt.does not know there are 40% of people in India don't have Sufficient food, medical facilities, Water facilities, Electricity and Good Roads. As an citizen of this country, suggesting all MLAs,MLCs,MPs & PM have to go to Villages and stay for a week. Then only they can realise, where we are. We are doing only show business in front of international communities. Much to suggest but hesitate to write more. Thanks to all Govt. Dignitaries.
exports
GERALD DSOUZA-CHIKMAGALUR | Wed Jun 24 08:25:27 2015
Reduce the import and export procedures for exporters/reduce the taxes for all exporters who export agricultural products/standardise the rates/prices of products supplied by poor growers/provide special benifits for exporters with cheap good government accommodations in foreign countries.-GERALD DSOUZA-BANGALORE
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Re: exports
Yuvaraj | Thu Jul 2 05:06:41 2015
Yes one of the reason of taxes high, corruption in customs & Excise dept..
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export down fall
sunil lahori | Wed Jun 24 07:43:36 2015
the down fall is due to the new policy announced in April, the focus of 4% on exports to Africa has been cancelled on garments and textiles which supports a considerable amount of our country's exports
focus to be re introduced immediately
to boost garment and textile exports
How to prevent Exports Downfall ?
Ashwinbhai | Wed Jun 24 06:17:45 2015
Dear Editor
We not doing export at all. Whatever we are going is peanuts and mainly laborious Job.
We do not have environment for trade supported by Government. Everywhere official rather them helping exporters they create more hurdles.
There can two effective ways :
1. Government should establish target for exports should be kept at least 5 times higher than current exports and that should be splitted into various territory and again to concern office and from offices to respective officers to promote exports .
Again, if government consider 50% waiver of Income tax from Exports business, it will further boost exports to newer heights which will be far above we can imagine.
Prevent abuse of power
webconcepts | Wed Jun 24 03:08:29 2015
The government should stop security and intelligence agency officials from attacking harmless exporters daily with directed energy weapons causing severe pain, headache, memory loss wasting tax payer money out of hatred and greed. These officials are making up completely false stories to justify their human rights abuses, and the exporters cannot do any work at all.
They also recognize the real exporters
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