Additional export support measures likely, MSMEs hopeful

The Indian export sector is likely to receive more assistance from the government in order to resolve export-related hurdles. While releasing ‘Strategy Paper on the Growth of Engineering Exports' in the national capital, Anand Sharma, Union commerce and industry minister, revealed that government will take into consideration the demand for extending greater export support measures.

Speaking during the release of the paper, Mr Sharma, commented, "Following the completion of the sectoral review carried out by the Directorate General of Foreign Trade (DGFT), the government will consider providing additional export support measures."

Major concerns of the export sector and issues related to policies and other obstacles will be taken up for assessment by DGFT during the sectoral review. Mr Sharma also assured the sector of making amendments to the new Foreign Trade Policy (FTP) in order to enable exporters, especially MSMEs, to reach their desired targets.

"Initiation of appropriate schemes in the revised FTP as well as extension of additional export stimulus measures will be helpful for exporters to increase their competitiveness and also foray into new markets," said Arun Samanto, proprietor of Snighdha Enterprises, a small-sized food products exporter in Kolkata.

With the extension of further export support measures by the government, MSME export-oriented units, particularly those engaged in garment, engineering, handicrafts and gems and jewellery, are expected to get a major boost in overcoming the existing hurdles.

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