|
New Delhi: Expressing disappointment over the second stimulus package, exporters warned of ‘huge’ job losses and missing the export target of USD 200-billion for the current fiscal unless the government provides them further sops.
The Federation of Indian Export Organisations (FIEO) said there was no "serious consideration" for the exporters in the measures announced by the government last week to stimulate the Indian economy, reeling under the impact of global meltdown.
It has asked the Government to increase drawback rates for tax refunds and additional two per cent interest subsidy.
The Government, in the stimulus package, had provided for an interest subvention of two per cent up to March this fiscal subject to minimum rate of interest of seven per cent.
"Unless the Government considers the demands favourably, there will be huge job losses across the country and we will be nowhere near touching export target of USD 200-billion," FIEO President A Sakthivel said. However, he did not elaborate on the quantum of the job losses feared.
The country's exports, which posted a robust 30.9 per cent growth in the first half of fiscal, contracted by 12.1 per cent in October, for the first time in the last five years. The negative trend continued in November, when exports fell to USD 11.5 billion, from USD 12.7 billion.
India's exports totalled over USD 160 billion in 2007-08.
Sakthivel urged Prime Minister Manmohan Singh, who is also holding the finance portfolio, to consider exporters' demands favourably to avoid job losses.
More from Jobs
Discuss this story on expressindia forums
|
|
 |
 |
 |
About Us | Contact Us | Advertisers | Site Map | Make us your homepage | Work for Us | RSS | Subscribe | Electronic Edition | Privacy Policy© 2009: The Indian Express Limited. All rights reserved throughout the world
