BIG NEWS for Exporters! Dues worth Rs 50,000 cr likely to be cleared SOON, Commerce Secretary B.V.R. Subrahmanyam tells Zee Business

BIG NEWS for the Indian exporters as the Narendra Modi Government is likely to soon clear dues of the stuck. The information was revealed by Commerce Secretary B.V.R. Subrahmanyam to Zee Business reporter Saurabh Pandey. The exporters have been urging the government to look in to the matter for months now.

The Secretary in chat with the reporter said that all the issues related to this matter will soon be looked into.

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Union Minister of Commerce and Industry Piyush Goyal recently held a meeting on this regard with the stakeholders.

The Secretary said that the Union Minister held a meeting with the Export Promotion Council on 19 August in Mumbai and later held meeting with industry bodies including Chamber of Commerce, Ficci and also with the chambers of various states.

He said that the government was receiving many suggestions on this based on which the government has been taking quick decisions.

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Subrahmanyam said that decision on Remissions of Duties and Taxes on Exported Products Scheme (RoDTEP) was recently taken which has been lingering for quite some time. That has been decided fast by the Minister, he further said.

The Commerce Secretary said that he is revealing for the first time to Zee Business that huge arrears are stuck currently in many schemes. This account is close to over Rs 50,000 cr, he further said.

He assured the exporters that that the decision on this will likely be taken within a week and Minister Piyush Goyal will soon announce a decision on this, he further said.

This amount will directly go into the hands of the exporters which will further strengthen their situation, Subrahmanyam said.

The decision will have a direct bearing on the Indian exports and will further boost its prospects, the Secretary said.