Incentives to exporters should be WTO compliant: Goyal
Commerce & Industry Minister Shri Piyush Goyal told export promotion councils in a video conference that incentives can be given to exporters, if they are justified, reasonable & compliant with global trade rules. The virtual meeting involved stakeholders from various industries including apparel, leather, gems and jewellery, pharma and engineering.
The minister was of the view that in the post-COVID era, there is going to be a perceptible change in the global supply-chains, & Indian industrialists & exporters should be looking to capture significant share in the world trade. He also assured them that the government will be a staunch supporter and facilitator in their efforts, and the Indian missions abroad can play an important role in that.
“India is going to have a bumper Rabi harvest this season, and our storage facilities are overflowing. At the same time, there are news stories that there is shortage of food items in several countries. Many places are not having food of appropriate quality, taste and quantity, due to disruptions in the supply chains because of COVID-19 crisis,” he observed, hinting that this could be a good opportunity for export of agricultural and processed food items.