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2012-07-06

FIEO for monitoring committee on foreign loans

Federation of Indian Export Organisations (FIEO) has asked Ministry of Finance to consider constituting a monitoring committee in order to ensure desired results out of its recent directives for funding foreign currency loans to MSME export sector.

Federation of Indian Export Organisations (FIEO) has asked Ministry of Finance to consider constituting a monitoring committee in order to ensure desired results out of its recent directives for funding foreign currency loans to MSME export sector.

M Rafeeque Ahmed, President, FIEO said that a monitoring committee should be put in place by the ministry so that MSME export units can avail optimal benefit of directive.

Ahmed also said that the cost of credit is an important factor in the current scenario of global slowdown, given the fact that the differential between Indian exporters and their global peers is in the range of 5-6 per cent.

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