Exporters in India are going to have their dues such as rebate on state levies and IGST cleared very soon. Necessary steps will also be taken to prevent cheaper imports.

Exim Bank has been advised to work out a special scheme for reducing the interest rate burden on exports instead of increasing IES benefits. A decision will soon be taken on blocked/embedded central taxes. Industry associations and export promotion councils have been encouraged to directly approach their respective state governments.

The Indian textile industry has been facing numerous challenges in the international market and the global competitiveness of the industry has been affected after the implementation of GST.

The delay in clearing various dues and the TUFS subsidy has created a severe financial crunch. In addition, high tariff barriers have been the major bottleneck for India in achieving a sustained growth rate in exports.

The cyclic element of lower global demand, changes in structural demand, reduction in export benefits and tariff barriers affected exports. Certain leading manufacturers had to divert their investments to countries like Ethiopia and other countries to overcome the challenges of tariff barriers.

The industry wanted these issues resolved so that it could emerge from the recession and grab the emerging global opportunity.