Govt invites suggestions on credit and market access facilities for foreign trade
Updated: Nov 06, 2013 02:44:02pm
New Delhi, Nov 6 (KNN) In an effort to strengthen the MSME sector and facilitate bank and market access to enhance foreign trade, the government has invited suggestions from the public.
“The Committee has decided to invite views/suggestions/comments from individuals/ experts/ institutions/ organizations/ stake-holders interested in the subject matter. The views/ suggestions/ comments may, inter alia, focus on issues like assistance/ support/ facilities available to the Indian exporters/ importers, policy interventions required for strengthening the inherent capacity of MSME sector and facilitating bank and market access to the sector for foreign trade…..” an official notification said.
The notification was issued from Department related Parliamentary Standing Committee on Commerce, headed by MP, Rajya Sabha Shanta Kumar.
The Committee also seeks public opinion on, “structural reforms required in the foreign trade mechanism to make it risk-free and enable it to become priority sector for loan and finances; ways and means to infuse competitiveness to our production process and promote export of finished goods rather than raw material; infrastructural bottlenecks hampering efficient foreign trade.”
The purpose of the exercise is to enhance foreign trade by the MSME sector. Therefore the government also seeks suggestions about “banking reforms desirable to facilitate low interest loans for the purpose of foreign trade, regulatory framework required to oversee the growth of foreign trade and check unfair practices; streamlining of various scheme/ incentives being offered by the government.
Towards this, the Committee is keen to ensure efficient coordination between customs and DGFT authorities on foreign trade related policies/ schemes; efficacy of Export Promotion Councils (EPCs), Directorate General of Foreign Trade (DGFT) and India Trade Promotion Organisation (ITPO) to promote foreign trade; and co-opt state governments to promote foreign trade.
The issues mentioned thus far, it said, are only indicative and not exhaustive. (KNN/ES)
“The Committee has decided to invite views/suggestions/comments from individuals/ experts/ institutions/ organizations/ stake-holders interested in the subject matter. The views/ suggestions/ comments may, inter alia, focus on issues like assistance/ support/ facilities available to the Indian exporters/ importers, policy interventions required for strengthening the inherent capacity of MSME sector and facilitating bank and market access to the sector for foreign trade…..” an official notification said.
The notification was issued from Department related Parliamentary Standing Committee on Commerce, headed by MP, Rajya Sabha Shanta Kumar.
The Committee also seeks public opinion on, “structural reforms required in the foreign trade mechanism to make it risk-free and enable it to become priority sector for loan and finances; ways and means to infuse competitiveness to our production process and promote export of finished goods rather than raw material; infrastructural bottlenecks hampering efficient foreign trade.”
The purpose of the exercise is to enhance foreign trade by the MSME sector. Therefore the government also seeks suggestions about “banking reforms desirable to facilitate low interest loans for the purpose of foreign trade, regulatory framework required to oversee the growth of foreign trade and check unfair practices; streamlining of various scheme/ incentives being offered by the government.
Towards this, the Committee is keen to ensure efficient coordination between customs and DGFT authorities on foreign trade related policies/ schemes; efficacy of Export Promotion Councils (EPCs), Directorate General of Foreign Trade (DGFT) and India Trade Promotion Organisation (ITPO) to promote foreign trade; and co-opt state governments to promote foreign trade.
The issues mentioned thus far, it said, are only indicative and not exhaustive. (KNN/ES)
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