Budget Demand: Exporters seek fiscal support, credit at affordable rates

Exporters on Thursday sought tax incentives for job intensive export units, cheaper credit for MSMEs and creation of an Export Development Fund. In the customary pre-budget interaction with finance minister Nirmala Sitharaman, exporters pitched for reduction in customs duty and sought government support for setting up a global Indian shipping line.

"Creation of employment is the biggest challenge faced by the country...We would urge the government to provide fiscal support to units which provide additional employment in the export sector," FIEO president A Sakthivel said. He added that currently the credit rate for MSMEs is 11%-13% and it may increase further in the next few months.