New Interest Subsidy Scheme For Indian Exporters Announced By Rbi

The Reserve Bank of India directive on Tuesday brought more cheer to exporters on

Tuesday by extending the interest subsidy scheme of two percentage points on rupee export credit to additional sectors like leather and leather manufacturers, jute manufacturing, engineering goods and textiles. With Foreign Direct Investments at an all time high as a result of recent announcements made by Government to loosen the FDI norms ,strong domestic economy, revival of demand in Western markets ,all these factors are allowing month on month exports and import numbers to swell since last seven months. If we take the case of India's textile exports it will grow up to $24 billion in 2010-11 from an estimated $20 billion in the previous fiscal and Industry reports suggest similar future trend for almost all Industries which are dependent on exports .

While the above factors are reasons for exporters to have a smile back on their face I guess the challenges are immense since companies in China are much more well positioned then India to anticipate and service future demand of buyers in US, UK etc , the trick for Indian exporters, Indian importers would be how to tap buyers in emerging nations of Africa and Asia and to build a system which would allow them to gather market intelligence like having Export Import data for their product categories , having been working in various export houses I have seen companies with such data have managed to increase their order book significantly . Such data is available from companies like Cybex. Export Houses should also look at ways to enhance the overall customer experience by allocating resources and using systems like CRM.

All in all going by the overall export /import numbers during the months gone by and future trends from various Industry bodies, it seems the year ahead of us looks great for Indian exporters.

by: rama11

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