Lifeline for exporters
The government is planning more sops for exporters. It is now contemplating devising a mechanism to enable exporters to invoice their orders in rupees. For exporters, it will mean assured returns for their goods and services without any impact of currency fluctuations.
It’s the first time since the rupee started appreciating that the government is considering an intervention of this kind. The government is likely to extend this facility to sectors like textiles, leather, handicrafts, etc., which have been the worst hit. The Commerce Ministry, though, is trying to assess if the measure will fall foul of WTO regulations against “currency retention schemes”—a kind of government exchange rate subsidy for exporters.
—Kapil Bajaj
Labour reforms on cards?
—Manu Kaushik
