Opening of manufacturing and exporting unit is the most opportune and welcome: FIEO president
Says this will help in opening of about 80-85pc of the manufacturing gradually
cityairnews
Apr 15, 2020 06:12
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Ludhiana: Welcoming the revised guidelines, issued by the Ministry of Home Affairs (MHA) today, allowing the opening of units in rural areas (outside the municipal limits), EOUs, SEZs, units in Industrial Townships and Industrial Estates, Mr Sharad Kumar Saraf said that this will help in opening of about 80-85% of the manufacturing gradually and augmenting supply bringing exports and manufacturing back on track. This would also give a very positive signal to the World that India is confident to contain Covid-19 through its well thought and early measures.
President FIEO said it will be a psychological boost to migrant workers also who were getting desperate with extended lockdown and will be just counting a few days to contribute to the country’s output. The industry is also relieved as the wage and other charges will cause lesser burden on them with the commencement of production.
Mr Saraf said that since in exports, documents are extremely important to show proof of delivery and negotiation, exporting companies (having Importer Exporter Code number) may be allowed passes for two persons, once a week, to collect documents from the office for submission to banks, shipping lines, courier companies etc. The export cycle is completed with the realisation of exports payments, for which opening of the office is required as otherwise payments will be at great risk particularly looking into liquidity challenges, increasing recession across economies and impending bankruptcies.
