Mumbai, India (PressExposure) January 30, 2009 -- Small and medium exporting units in sectors like textiles, gems & jewellery, chemicals and handicrafts are expecting the government to offer them sops to deal with the ongoing crisis and a slump in demand. Kamal Nath, Union Commerce and Industry Minister, recently announced that a number of sector specific measures would be taken by the government in the next 10 to 12 days for assisting exporters, particularly in the SME segment.
To address the problems faced by exporters and analyse the impact of the stimulus package, Mr Nath, Montek Singh Ahluwalia, Deputy Chairman of the Planning Commission and top officials from the commerce and finance departments recently met exporters and industry representatives.
The government has decided to form a committee comprising secretaries of revenue, finance and commerce departments to resolve issues faced by exporters and work out a strategy to help them deal with the declining demand and stiff competition.
Exporters have been demanding sops from the government since long to enable them to maintain an edge over their rival exporting nations. Mr Nath has assured exporters to take adequate measures and meet some of the demands to help them ride out the crisis.