Exports are on the decline, says FIEO Regional Chairman

Regional Chairman of Federation of Indian Export Organisations (FIEO) Walter D’Souza said exports from the country are on the decline.

Initiating an interactive session on electronic Bank Realisation Certificate (e-BRC) on Tuesday, Mr. D’Souza said exports in the last nine months of this financial year had been $ 214 billion as against $ 257 billion last year. Deputy General Manager of Vijaya Bank B.M. Kusuma said Indian exporters had not been doing well because of recession in the U.S.

Gopalakrishna Bhat, Assistant General Manager (International Banking Division), Vijaya Bank, and V. Murugesan Assistant Director, Directorate-General of Foreign Trade (DGFT), gave a presentation on e-BRC, which was issued by the bank upon realisation of export proceeds.

Mr. Murugesan said from August 16, 2012 issuance of e-BRC had been made mandatory for both physical and deemed exports. Exporters had to make use of e-BRCs to get benefits of schemes and incentives of the government.

Mr. D’Souza said 7.87 lakh e-BRCs had been uploaded by exporters on the website of the DGFT. The FIEO was conducting 21 interactive sessions with exporters to generate awareness on e-BRCs. The president of the Kanara Chamber of Commerce and Industry Mohammed Ameen spoke.