1. Lessons learned during lockdown:-
Ø Things come to standstill. Everything cannot be " work from Home"
Ø Creation of compulsory reserve funds is absolute necessary.
Ø We need strong public facilities for health issues.
Ø Creating additional workforce with skills to handle exports at district level.
Ø Make procedures simple really simple. Currently it's not easy to conclude any business deal as it has many formalities in actual operations.
Ø Let export be a national priority and there should not be terms like "high risk exporter".
2. Few suggestions for immediate future:-:-
Ø Fix RoDTEP rates.
Ø Create dollar 100 billion fund for MSME exporters as packing credit max. 3.75% interest per annum.
Ø Use export proceeds to the extent of 70% for repayment of advance directly from EEFC account.
Ø Give powers to specified officers to allow exports. These officers should be carefully selected, if need be from the private sector as well.
Ø Negotiate with Japan on priority basis for transferring their manufacturing units from China to India.
Your views are Welcome!!
Sudhakar Kasture
Director, EXIM Institute (A Division of Helpline Impex Pvt. Ltd.)
Mumbai.
E-mail:sk@helplineimpex.co.in
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