Perfect Sourcing - December 2018

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A tumultuous 2018 draws to an end…will 2019 bring back lost glory?
We are now in the last month of this year, a year which was turbulent in many ways as business did not give returns as expected. The government also played smart by revising the duty drawback rates in the nick of time as elections are just around the corner. A lot of new schemes were launched, the latest being the 59-minute loan portal to enable easy access to credit for MSMEs for a loan up to Rs.1 crore. But when our team interacted with exporters on the same, none of them responded positively; instead, they said that rather than schemes, the industry need reforms that can add ease to business. Post GST, the problems have only increased for exporters especially for people at the small and medium end. The market is very slow and the exports are going down due to lack of demand of Indian products in the global market. Buyers from the US are pulling out because of the restrictions and the Govt. is well aware of the dissatisfaction of exporters. With upcoming elections these policies are being announced to please MSME’s which have existed for many years.