Parliamentary panel seeks views on credit flow to foreign trade
Updated: Nov 25, 2013 05:01:08pm
New Delhi, Nov 25 (KNN) In a bid to improve flow of credit to the exporting sector, particularly among MSMEs, the Parliamentary Standing Committee on Commerce has sought public opinion from different stakeholders.
The Parliamentary Standing Committee on Commerce, headed by Senior BJP leader and Rajya Sabha MP, Shanta Kumar, has taken up the subject of “Credit and Market Access Facilities for Foreign Trade” for examination and report.
The views may focus on issues like assistance and policy interventions required for strengthening the inherent capacity of MSME sector and facilitating bank and market access to the sector for foreign trade.
It wants to know from the stakeholders as to how to improve the structural reforms required in the foreign trade mechanism to make it risk-free and enable it to become the priority sector for loan and finances.
It would also like ways and means to infuse competitiveness to the production process and promote export of finished goods rather than raw material.
The Committee would also like to improve coordination between customs and DGFT authorities on foreign trade related policies/ schemes, co-opting State Governments to promote foreign trade; efficacy of Export Promotion Councils (EPCs), and India Trade Promotion Organisation (ITPO) to promote foreign trade.
After all the doldrums, country’s exports started showing some improvements since the last few months. In April-October 2013, exports grew by 6.32 per cent to USD 179.38 billion, while imports during the period contracted by 3.8 per cent to USD 270.06 billion. (KNN/SD)
The Parliamentary Standing Committee on Commerce, headed by Senior BJP leader and Rajya Sabha MP, Shanta Kumar, has taken up the subject of “Credit and Market Access Facilities for Foreign Trade” for examination and report.
The views may focus on issues like assistance and policy interventions required for strengthening the inherent capacity of MSME sector and facilitating bank and market access to the sector for foreign trade.
It wants to know from the stakeholders as to how to improve the structural reforms required in the foreign trade mechanism to make it risk-free and enable it to become the priority sector for loan and finances.
It would also like ways and means to infuse competitiveness to the production process and promote export of finished goods rather than raw material.
The Committee would also like to improve coordination between customs and DGFT authorities on foreign trade related policies/ schemes, co-opting State Governments to promote foreign trade; efficacy of Export Promotion Councils (EPCs), and India Trade Promotion Organisation (ITPO) to promote foreign trade.
After all the doldrums, country’s exports started showing some improvements since the last few months. In April-October 2013, exports grew by 6.32 per cent to USD 179.38 billion, while imports during the period contracted by 3.8 per cent to USD 270.06 billion. (KNN/SD)
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