Monday, July 13th, 2020

Incentives can be given, but they have to be justified, reasonable, and WTO-compliant

INVC NEWS       

New Delhi,

Minister of Commerce and Industry & Railways Shri Piyush Goyal today, through Video Conferencing, held discussions with the Export Promotion Councils(EPCs) of the country. He called upon the Exporters to identify their strengths, potentials and competitive advantages in specific sectors, and focus on harnessing them in the world markets. ShriGoyal said that in the post-Covid era, there is going to be perceptible change in the global supply-chains, and Indian industrialists and exporters should be looking to capture significant share in the world trade. He assured them that the Government will be a pro-active supporter and facilitator in their efforts, and the Indian Missions abroad can play an important role in that. The Minister said that Incentives can be given, but they have to be justified, reasonable, and WTO-compliant.

Shri Goyal said that the Ministry is working on identifying the specific sectors which can be taken forward in the immediate future for the Exports purpose. He said that India is going to have a bumper Rabi harvest this season, and our storage facilities are overflowing. At the same time, there are news stories that there is shortage of food items in several countries. Many places are not having food of appropriate quality, taste and quantity, due to disruptions in the supply chains because of Covid-19 crisis. He said that this seems to be a good opportunity for export of agricultural and processed food items. The Minister exhorted the Export promotion councils to undertake brainstorming sessions with its members, and come up with similar actionable, big-ticket ideas.

 The EPC Office bearers expressed their gratitude to the Minister, for providing support and coming out with time-bound solutions, during the Covid pandemic and lockdown. They made several suggestions, which may further facilitate their functioning. The meeting was attended, among others, by FIEO, AEPC, SRTEPC, CLE, SEPC, Chemexcil, GJEPC, CEPC, Shefexil, CEPCI, PEPCI, Pharmexcil, ECSEPC, EEPC, TEPC, Capexil, Chemexcil.

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