New Delhi: The government Friday assured industry that it will soon announce incentives for exporters to provide them a cushion in the wake of declining shipments due to global slowdown.
Commerce and Industry Minister Anand "Sharma assured the industry that measure to support exporters will be announced as early as Monday", an official release said.
During the April-November this fiscal, the country?s exports have shrunk by 5.95 percent to USD 189.2 billion.
Sharma chaired the 5th meeting of the Government-Industry Joint Task Force, which takes stock of the developments on the economic front.
Talking to reporters after the meeting, the minister said the industry has conveyed its concerns over issues like cost of credit and rising cost of manufacturing.
"Industry has conveyed its concerns about the cost of credit, weak disbursement of credit, rising cost of manufacturing, transaction cost, raw material availability," he said adding there is an urgent need to remove the bottlenecks.
"What was understood as the priority concerns of the industry or for the economic growth, for the government to take some measures, particularly policy decisions, which we had assured the industry that we were clear about the roadmap and the decisions would be made soon," he added.
On the National Manufacturing Policy, Sharma said he would hold the first meeting of the Manufacturing Industry Promotion Board in the near future to review the state of the manufacturing sector.
He informed the industry that the Green Manufacturing Committee under the chairmanship of Secretary, DIPP has held its first meeting and set out the roadmap for implementation of the relevant components of the policy.
"The Ministry of Environment & Forests has completed the action required at central government level and issued the necessary advisory to the state governments. A similar advisory with respect to labour issues is to be brought out in the near future," the release said.
Further, Sharma said that the ministry is expected to announce measures to revive SEZ policy.
"The department is in the process of finalisation of the revised SEZ policy in consultation with the Ministry of Finance and hoped that before the next Budget, the Ministry will be able to announce the changes," he said.
Sharma also informed that the Central/State governments
have been authorised to delegate powers to an official of the State Pollution Control Board for giving necessary regularly clearances pertaining to environment.
The minister also urged both CII and FICCI to divide among themselves 10 states which contribute to the bulk of the industrial output, manufacturing where they could hold structured meetings with the state governments on the specific issues.
Ficci President Naina Lal Kidwai, who attended the meeting, said that although Indian industry is facing few challenges, but they are "cautiously optimistic" about the next year.
"Industry is cautiously optimistic. There are clearly challenges, which we have discussed. We do need to work on all the projects that are stuck and that do need resolution whether it is to do with coal supply or power," she said.
The other industrialists present in the meeting include TVS head Venu Srinivasan, JK Paper Managing Director Harsh Pati Singhania and Hero MotoCorp joint MD Sunil Kant Munjal.