The Federation of Indian Export Organisations (FIEO) and the Council for Leather Exports (CLE) have welcomed the stimulus package of ₹6,28,993 crore announced recently by finance and corporate affairs minister Nirmala Sitharaman to support Indian businesses in their fight against the COVID-19 pandemic. FIEO president A Sakthivel said the announcement of ₹33,000 crore for project exports through the National Export Insurance Account will also boost exports.
The economic relief package announced will help growth of exports from the leather, leather products and footwear sector, said CLA chairman Sanjay Leekha in a statement.
The extension of Emergency Credit Line Guarantee Scheme (ECGLS) and also launch of Loan Guarantee Scheme for COVID-affected sectors will be of great help to exporters. We hope that the new Loan Guarantee Scheme and also ECLGS with additional coverage will be extended to our industry, as we have now got very good export orders, but we need additional credit to execute those orders,” Leekha added.