January exports impressive but extension of interest equalisation scheme and others crucial: FIEO

New Delhi, Feb 2 (KNN) The January 2022 exports of USD 34.06 billion with a growth of 23.69 per cent has been commended by the Federation of Indian Export Organisations (FIEO), but the exporters' body has urged the government for more sops for the export sector.

FIEO President A Sakthivel urged the govenment to soon announce extension of the interest equalisation scheme and allow transfer of MEIS, increase the validity of scrips to 24 months, extend RoDTEP to EOUs, SEZ and Advance Authorisation and expand usages of RoDTEP and RoSCTL scrips.

“Although the government has announced a slew of measures to support exports, these extension and changes are important and need of the hour,” added Sakthivel.

The top sectors, which performed well during the month were Engineering Goods, Petroleum Products, Gems & Jewellery, Organic & Inorganic Chemicals, Cotton Yarn/Fabrics/Made-ups, Handloom Products etc., RMG of all Textiles, Electronic Goods, Plastic & Linoleum and Rice.

Out of these, many of them were labour-intensive sectors contributing majorly to the exports basket, which itself is a good sign, further helping job creation in the country, said FIEO ChIef.

“However, imports clocking USD 52.01 billion during the month with a growth of 23.74 per cent, is a point of concern and should be analysed,” suggested Sakthivel.

He recognised the efforts made by the government to help the export community and thanked Prime Minister Modi, Finance Minister, Commerce & Industry and Textiles Minister for showing confidence and trust on the exporters during these challenging times. (KNN Bureau)