Ensure proper credit flow: Fieo to government

NEW DELHI: Federation of Indian Export Organisations (Fieo) on Wednesday asked govt to ensure adequate credit flow to exporters and at affordable rates, arguing that the tension in West Asia has pushed up the freight rates and also the time taken for transit, increasing reliance on bank support.
Fieo president Ashwani Kumar proposed that there should be a sub-category within the priority sector lending limit to ensure that credit is available.The share of export credit in the net bank credit is extremely low and not commensurate with the share of India’s exports in the GDP, he said.