FIEO asks fiscal benefits for MSME exporters in Budget

MSME exporters may be provided additional exports benefits. It would help in promoting exports, Federation of Indian Export Organisations (FIEO) said in a statement.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Realasset
moneycontrol.com

sme special

Home » News » Economy

Feb 24, 2016, 11.06 AM | Source: PTI

FIEO asks fiscal benefits for MSME exporters in Budget

"MSME exporters may be provided additional exports benefits. It would help in promoting exports," Federation of Indian Export Organisations (FIEO) said in a statement.

Like this story, share it with millions of investors on M3

FIEO asks fiscal benefits for MSME exporters in Budget

"MSME exporters may be provided additional exports benefits. It would help in promoting exports," Federation of Indian Export Organisations (FIEO) said in a statement.

Post Your Comments

Share Cancel

FIEO asks fiscal benefits for MSME exporters in Budget
Apex exporters body FIEO suggested the government to extend fiscal benefits to micro, small and medium enterprises (MSMEs) to boost exports from the sector.

MSME sector contributes about 45 percent to the country's total exports.

"MSME exporters may be provided additional exports benefits. It would help in promoting exports," Federation of Indian Export Organisations (FIEO) said in a statement.

In view of current downfall in exports, encouragement to MSME sector by way of fiscal incentives on their year-on-year export growth would motivate them for aggressive export marketing, which in turn could help in restoring export momentum, it added.

It also said that the biggest challenge affecting MSME exports is on the marketing front as most of the units lack financial resources to meet the cost.

"Government needs to chip in with liberal funding. The total marketing support extended by (the Commerce Ministry) is insufficient to meet the demand of MSME for export marketing.

"Government may create an Export Development Fund (EDF) in order to support them on this front. The corpus of the fund should be 0.5 percent to 1 percent of export value so that sizable money is available to promote MSME exports," it said.

Exports dipped for 14th month in a row in January, down 13.6 percent to USD 21 billion due to fall in shipments of petroleum and engineering goods, although trade deficit showed improvement.

Imports shrank 11 percent to USD 28.71 billion last month, resulting in a trade deficit of USD 7.63 billion, lowest in eleven months.

In February last year, the deficit was USD 6.85 billion.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
FIEO asks fiscal benefits for MSME exporters in Budget

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login