In its pre-budget recommendation, EEPC India has suggested restoring the interest subvention to 3% for the specified 410 tariff lines besides raising the subvention rate to 5% for MSME manufacturers exporting under any tariff line. “Considering the rise in the repo rate from 4.4% to 6.5%, we have requested to restore the interest subvention rate … Read more
The Indian industry remains upbeat about exports in FY24 even as it stares at slowdown in demand for textiles, jewellery, engineering goods and chemicals from the US and the EU. Exporters expect a growth of 11-13% in FY24. Cotton textile and apparel exporters expect 8-10% on-year growth in FY24. India clocked $450 billion exports in … Read more
Kolkata: Driven by sharp fall in exports of iron and steel and economic slowdown in key markets including EU and China, engineering goods exports witnessed a 9.8 per cent year-on-year decline in January to $ 8.41 billion. Cumulative engineering exports during April-January 2022-23 also declined by 3.68 per cent year-on-year to US$ 88.27 billion. In … Read more