New Delhi: The government’s guarantee, interest subsidy and provident fund and ESIC support for employees supported loan repayment for loans supported by ESIC support, exporters are prepared with a covid-style wisleist that they are presenting the government and RBI to deal with the challenge presented by US tariffs.“This is a earthquake that will affect the workforce. The industry should be relieved,” said Kirit Bhansali, president of the James and Jewelery Export Promotion Council after a meeting with RBI on Tuesday. With the possibility of a delay, he wants the bank to be easy on the loan repayment.The FIEO is demanding a one -year adjournment on the loan repayment, both principals and interest, arguing that it will enable exporters to better manage direct resources and cash flows towards the diversification of the market, when they collide with low orders and extended payment cycles. In addition, it wants an automated 30% increase of credit boundaries to streamline working capital flows.“We are staring at a crisis that will force the shutdown and cause unemployment. The government is asking us to sell it in the domestic market, how do we do with the goods that were for America?” FIEO president SC Ralhan said, Finance Minister Nirmala Sitarman and Commerce and Industry Minister Piyush Goyal ahead of their meetings.Many agencies are also pitching to support the Export Credit Guarantee Corporation.Apparel exports promotions (AEPC) asks that from many agencies – from RBI and various ministries, from textiles to commerce, finance, labor and environment.Citing an “high interest rates” of 8–12% in India, compared to 3% in China and Malaysia, the interest subscriber scheme be revived and pre-discourse Rs export credit should be re-re-presented for five years.It is demanding a concessional corporate tax rate of 15% for new companies, a textile upgradation fund through the convenience of scheme-type to support the expansion of apparel units and to store inventory abroad.In addition, it has made a case for the government to tolerate the share of PF employers and contributed ESIC to workers in the apparel units between August 2025 and March 2026.In addition, AEPC and Fieo have proposed skilling aid for workers in export units. While the RBI, as reported by TOI on Tuesday, is conducting counseling on potential prohibition, the government is not ready to offer fiscal support, at least immediately and finding out whether domestic retailers and foreign buyers can assist exporters. The Center also believes that improvements and steps like GST cuts will help in increasing domestic demand and American will come to the rescue of Indian players.
