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Exporters from MSME sector facing huge liquidity challenges & need seamless flow of benefits: FIEO

Exporters, particularly from the MSME sector, are facing huge liquidity challenges due to the stoppage of MEIS benefits of over Rs 10,000 crore from April 1, 2020 and IGST refund now, said Mr S. K. Saraf, President, FIEO. Currently, when exporters are receiving new orders from new buyers and destinations, support needs to be given to help them execute such orders. Unfortunately, many of the exporters have expressed their inability to honour such orders in view of the liquidity challenges, due to stoppage of export benefits and refund of GST, he added, as per a release. 

He urged all the departments of the government to sit together to resolve the technical and financial issues, to help the seamless flow of liquidity to the exports sector. The government should address the issue of Risky Exporters by providing them duty drawback and IGST benefits against a bond if physical verification of such exporters has been established. Mr Saraf exuded confidence on improving export performance and stressed that with due support from all stakeholders, the industry can bring exports back on track by the end of the year, the release said. 


Source: Exim News Service: New Delhi, Sept. 15 


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