Global Uncertainties in export
The escalating geopolitical tensions may have implications for the country’s exports as it is likely to impact global demand, apex exporters’ body FIEO said
The uncertainties caused by the continuing war between Russia and Ukraine impacted India’s outbound shipments in 2023-24, which recorded a dip of 3.11% to $437 billion. Imports too slid by more than 8% to $677.24 billion.
If the global situation continues to be like this, it will impact global demand
Due to demand slowdown, offtake of goods will be low so foreign buyers will also take a longer period to make payments.
So exporters require funds for a longer period.
Exporters also need interest subvention support
On December 8, the Union Cabinet approved an additional allocation of ₹2,500 crore for the continuation of interest equalisation scheme up to June 30
The scheme helps exporters from identified sectors and MSME manufacturer exporters to avail competitive rates on pre- and post-shipment rupee export credit
FIEO
The Federation of Indian Export Organisations represents the Indian entrepreneurs spirit of enterprise in the global market.
Apex body of the Government recognised Export Promotion Councils, Commodity Boards and Export Development Authorities in India.
Set up in 1965 by Ministry of Commerce, Govt. of India to focus the efforts of all stakeholders engaged in promotion of trade from the country.
Provides the crucial interface between International Trading community of India with the Central and State Governments, Financial Institutions, Ports, Railways, Surface Transport and all engaged in Export Trade Facilitation.
Directly and indirectly serves the interests of over 200,000 exporters from every Industry and Services sector in the country.
ISO 9001:2015 certified organisation and ensures delivering uniform and high quality services to its Members and Associates.
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