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RBI’s move such as banning LoUs, Letters of Comfort has increased cost of funds for exporters: FIEO Chief


 

Exporters’ apex body in India FIEO is optimistic that the country’s exports could reach approximately USD 350 billion in the current fiscal year ending March 2019.

The Federation of Indian Export Organisations (FIEO) also hopes India will actively engage with the United States to protect local industry's interest, its President Ganesh Gupta said today.

Gupta said the RBI’s steps such as banning letters of undertakings, letters of comfort has increased the cost of funds for exporters by 1% to 3%.

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