Chennai: Union commerce secretary Ms Rita Teaotia said here on Friday that even though there was a slight slowdown in exports, the Centre was making all efforts to power up the sector by reducing transaction costs.
To promote exports from the southern region, mainly from Tamil Nadu, the Centre will work with state government and local exporters, added Teaotia. “We will find out the bottlenecks for exporters and clear them,” she told the media after addressing members of the Federation of Indian Export Organisation (FIEO) in Chennai.
Ms Teaotia said that a series of infrastructure issues such as access to ports, traffic management, integration of software with various agencies and specific concerns like interest subvention have been raised by state government and exporters.
On the impact of the fall of Chinese currency yuan, she said that there are no universal blanket measures. Some sectors and commodities have benefited from the yuan fall. For example, alloys have become cheaper for steel manufacturers and active pharmaceutical ingredients will be cheaper for pharma companies.
The RBI has been vigilant and will intervene if required, Ms Teaotia said adding that as of now no sector has approached for specific relief.
To improve the ease of doing business, India has reduced the number of mandatory documents required for import and export of goods to three from 17, Ms Teotia noted.
