The Commerce Ministry was preparing an incentive package for labour-intensive sectors such as leather to promote shipments and address issues of exporters, Union Minister Suresh Prabhu said.
Over a period of time, export sector would face challenging issues related to credit availability, he added.
“We are preparing a package which will ensure that exporters’ woes are addressed properly. There have been challenges for the export sector over a period of time and one big challenge is credit,” Mr. Prabhu said.
He said the package would focus on labour intensive sectors such as leather, textile and marine products as they would help in creating jobs.
The Minister said there had been a sharp decline in credit to the export sector and the Department of Commerce had taken up the matter with the Finance Ministry and the Reserve Bank of India.
“I will meet meet the RBI Governor [Shaktikanta Das] and explain him, what are the new things we need to do at export front. We are also saying that RBI should classify credit to export as priority sector lending,” he added.
The other challenge, he said, which the export sector was facing was related to refund of Goods and Services tax (GST).
