Engineering exporters' apex body EEPC has said that the government needs to extend benefits of the 'Startup India' programme to small and medium (SME) exporters who are facing challenges due to global slowdown.
"A double-digit fall in the engineering exports for several months in a row is worrying as the sector is the largest contributor to India's export basket as also among the largest job creators," EEPC India Chairman TS Bhasin said in a statement.
He said the government should extend the benefits of the programme to SME exporters who are battling the global slowdown and contributing towards the country's current account stability.
"What is more worrying is the sizable fall even in non-petroleum products exports. The government should announce a special interest rate dispensation for the exporters while also being cautious about slapping restrictions on import of essential raw material like steel," he said.
Bhasin further noted that about 15 per cent decline in exports in December is an indicator, that it may drop by over 15 per cent in the current fiscal, if retrograde steps like minimum import price on steel are imposed. He further said the government should be liberal with export incentives without waiting for the Budget as February-end will be too late.