Dr. A. Sakthivel, FIEO Urged compensate additional transaction cost due to implementation of GST through FTP provisions. - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Thursday, August 31, 2017

Dr. A. Sakthivel, FIEO Urged compensate additional transaction cost due to implementation of GST through FTP provisions.

Dr. A. Sakthivel, Regional Chairman, FIEO Southern Region Urged Union Minister for State for Commerce and Industry to compensate additional transaction cost due to implementation of GST through FTP provisions.

Dr. A. Sakthivel, Regional Chairman, FIEO Southern Region met Hon’ble Minister for State for Commerce and Industry Mrs. Nirmala Sitharaman today at Delhi and taken up issues of exporters.  While highlighting the issues of exporters related to blockage of funds due to GST, Dr. Sakthivel urged for additional incentives and revamping incentive schemes to suit the needs of export sector.  Dr. Sakthivel also expressed his concern on stronger rupee and said that implementation of GST as well as rupee appreciation started eroding competitiveness of Indian exports and requested for urgent intervention of  Commerce Minister.  He also highlighted his apprehension on  huge enhancement of minimum wages  and requested for Minister’s intervention to see that competitiveness of Indian manufacturers will not be lost to our neighbouring South East Asian countries as new investments in manufacturing sector is highly depend on cost advantages especially related to labour.
 

Dr. A. Sakthivel, Regional Chairman,
FIEO Southern Region 
FIEO Regional Chairman also highlighted the issues of exporters due to frequent disturbances in  Customs EDI / and DGFT  system and said that delay in clearance of goods is seriously affecting the reliability of Indian exports apart from high transaction cost.  He also urged the Department to look into the liquidity crunch of exporters and suggested for e-wallet so that exporters can procure raw materials  as well as finished goods for exports without actual payment of GST.  Dr. Sakthivel also sought special scheme for promotion of Indian Brands in international market.

Hon’ble Minister assured all her support to overcome the issues of exporters and said that she is working with the Department for resolving the issues raised.

FIEO -  Federation of Indian Export Organisations
Southern Region
Spencer Plaza, Unit No.706, 
7th Floor,769, 
Anna Salai,
Chennai - 600 002
Phone: +91-44-28497766, 28497755, Fax: +91-44-28496666
Email: unni@fieo.org                                              


Dr. A. Sakthivel, FIEO Urged compensate additional transaction cost due to implementation of GST through FTP provisions. Reviewed by S. Chitra on August 31, 2017 Rating: 5 Dr. A. Sakthivel, Regional Chairman, FIEO Southern Region Urged Union Minister for State for Commerce and Industry to compensate additional...

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