EXPORTS to boost with extension of ECLGS
Dr A Sakthivel, President, FIEO said, while commenting on the Monetary Policy Statement, the RBI has struck a nice balance between growth and inflation and evaluating the two, has not tinkered with the rates. At the same time, the extension of the Emergency Credit Linked Guarantee Scheme (ECLGS) will augment the flow of credit to the export sector. Sakhtivel said that RBI has also acknowledged the challenges of containers, labour shortages and high freight rates, which led to a revision in the trade growth projection for 2022-23 at 6 per cent. He added that the demand side of Indian exports is encouraging and the export sector is all set to repeat its spectacular performance in the next financial year.