The new minister for commerce and industry, Suresh Prabhu, takes over at a time when exporters feel let down by his ministry.
Their working capital requirement and cost on capital goods have gone up, after the decision to impose Goods and Services Tax (GST) on their local procurement and import. Their export realisations have gone down, due to a stronger rupee. Global trade shows signs of picking up but competition has intensified. Prabhu has started well, with a statement that he’d give priority to the problems of exporters and job creation. The agenda before him is formidable, as noted in this
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