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Cheaper rates of credit for exporters soon: Minister

IANS  |  New Delhi 

Union Minister Piyush Goyal on Thursday said that the issue of easier availability of credit at cheaper rates to exporters will be resolved expeditiously.

While briefing the media here after chairing a joint meeting of the Board of Trade and Council of Trade Development & Promotion, the Union Minister of Commerce and Industry and Railways Goyal said that customs clearances will be made quicker by installing X-Ray scanners at all the major ports.

The Minister added that robust mechanism for "Track & Trace" in pharma sector will be implemented in three months, while a new scheme to rebate state and central taxes and levies will be rolled out in three months and will be implemented in a phased manner for all the sectors.

A Ministry of Commerce & Industry statement said that during the day-long deliberations, specific action points for the implementation of new 'Agricultural Export Policy', reducing logistics costs, improving ease of doing business in all states, increasing domestic manufacturing and reducing imports were identified.

"States were urged to finalise their export strategies at the earliest, keeping in view their state specific requirements and advantages," the statement said.

Earlier in the day, Goyal urged industry representatives and exports bodies to stop depending on crutches of subsidies and grants from the Central government and strive to make industries more competitive and self-reliant.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 06 2019. 23:50 IST
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