Commerce Secretary Anup Wadhawan on Friday informed that the foreign trade sector is recovering in a balanced manner. While speaking at a conference on foreign trade issues, Wadhawan said, April 2021 performance is positive. Overall, the foreign trade sector is recovering in a balanced manner. Import growth was lagging, to some extent there is slight convergence, but on the whole, recovery is balanced and in favour of greater export recovery. Wadhawan also spoke on export logistics amid COVID-induced restrictions. He said, There is no major issue on logistics. There were problems, but through concerted efforts they have been largely resolved. To some extent, tariffs have gone up globally, but no major constraint.
Exporters fret over delay in rebate rates
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April 21, 2021 23:09 IST
The RoDTEP scheme came into effect on Jan. 1 but lack of clarity is hampering sector’s ability to price
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Booster dose: Due to COVID-19, India’s exports may require more stimulus, RSM Astute said. B. Jothi Ramalingam
The RoDTEP scheme came into effect on Jan. 1 but lack of clarity is hampering sector’s ability to price
Even as exporters fret over an inordinate delay in notification of the rates under a new WTO-compliant scheme for rebating taxes and duties to the export sector, they are also seeking greater clarity from the government on some grey areas in the scheme’s functioning, according to tax consultancy firm RSM Astute.
‘Target over 25% growth in exports’
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Addressing a meeting with export promotion councils of various sectors, Commerce and Industry Minister Piyush Goyal urged exporters to target over 25% growth in 2021-22 so as to take merchandise exports to $400 billion and promised them government support. Earlier, Commerce Secretary Anup Wadhawan stressed that India’s exports, excluding gems and jewellery and petroleum products, had grown by 1% in 2020-21 despite the COVID-19 disruption. He added that he expected exports to grow significantly this year. The WTO estimates world merchandise trade volume to rebound by 8% in 2021 after falling 5.3% in 2020.
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Exports in FY22 to be on upswing, says Commerce Secretary Anup Wadhawan ANI | Updated: Apr 20, 2021 14:50 IST
New Delhi [India], April 20 (ANI): Commerce Secretary Anup Wadhawan said on Tuesday that exports out of India are on an upswing and the government is hopeful of positive growth in the current financial year 2021-22.
The exports recorded a significant contraction in April last year but activities have started gathering momentum, he said.
In spite of the huge Covid-19 pandemic, various sectors like the pharma sector, agricultural products and cereals have shown tremendous resilience. However, gems and jewellery and petroleum have been impacted. I am quite positive and hopeful that in 2021-22, we will be in solid positive territory. I have no doubts about that. But I do not want to predict numbers and make any targeted projections, Wadhawan told reporters.