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Home > All news > Export Import > Issue of declining bank credit to exporters to figure in Sept 11 Piyush Goyal’s meet’

Issue of declining bank credit to exporters to figure in Sept 11 Piyush Goyal’s meet’

September 9, 2024
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Shri Goyal said that approvals to industries in states should be time bound and should be easy.We are experimenting with a system whereby people should not need to come to government offices for approvals and compliances, the Minister added. He said that Centre and States can work together in all sectors and push towards greater employment opportunities. While felicitating the top performers under the Business Reforms Action Plan (BRAP), Shri Goyal recognised the outstanding work of States and UTs in enhancing the Ease of Doing Business. States like Kerala, Andhra Pradesh, and Gujarat were highlighted for their remarkable reforms in streamlining processes and providing efficient services to businesses and citizens alike. The Minister during his address noted that many states have shared their best practices and stated that healthy competition and collaboration is key to the progress of the nation. Orissa has reformed its mines sector, UP has started promoting investment, Maharashtra is attracting FDI by improving infrastructure, Sikkim is adding value to the organic farming. Shri Goyal said that each state should study the industry policies of other states and try to improve themselves. Rajasthan can teach other states on ways to improve their policies to make themselves more attractive to tourism, he said. Shri Piyush Goyal said that the government is making sincere efforts to promote India as the investment destination for the world and attract Foreign Direct Investment (FDI) across different States and UTs. He said that the Union Government has created a level playing field for all the States and UTs to attract FDI. The investments coming from abroad is going to different states and each of them are beneficiary of our efforts to attract FDI, he added.

NEW DELHI : The declining bank credit to exporters will hurt the sector, and traders will flag the issue prominently during their meeting with Commerce and Industry Minister Shri Piyush Goyal on September 11, an industry official said recently.

While exports grew by 15 per cent in the rupee terms between 2021-22 and 2023-24, the outstanding credit in March 2024 dropped by 5 per cent over the same month in 2022, according to exporters.

Apex exporters body Federation of Indian Export Organisation (FIEO) said the export . . .

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Disclaimer: This information has been collected through secondary research and Daily Shipping Times is not responsible for any errors in the same.

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