Union Commerce and Industry Minister Piyush Goyal told in mutual interaction after Shreya Nandi was presented the budget that the government will help the industry to deal with the regulation of non -fee methods such as the regulation of non -fee methods of European Union (CBAM) of European Union. Major excerpts:
Tell us about the Export Promotion Mission and how will the government spend Rs 2,250 crore allocated?
The Ministry of Commerce and Finance is working as a team. Both ministries are seeing which areas need to help maximum help to promote capital, technology upgradation, marketing, brand building, new market and promoting new products. This is a omnipresent scheme that provides excessive flexibility to promote exports.
It has been specially mentioned in the budget that MSME will be provided help to deal with non -fee measures. How long can we expect recommendations?
The widespread thinking is that if there are extreme difficulties in getting quality approval from a country, then the government should be in a position to help MSME in case of cost. Hence the additional cost is, suppose we complete the carbon boundary adjustment mechanism (CBAM) of the European Union. We want to help our micro and small units meet certification reporting requirements. The team working for this mission will help our industry deal with non -fee barriers (NTBs). We are constantly interacting with the concerned party to reduce non -fee barriers. There have been meetings with officials in this connection. I have given some of my ideas how to make money properly.
There is no allocation for interest in interest equipment and market?
We have brought all in a realm. We want targeted and concentrated intervention instead of regular intervention. We were first looking at large and small or all areas in an equal manner in regular intervention. The Interest Equalization Scheme was completed on 31 December. If an area needs help from a scheme, the Ministry of Commerce and Finance can consider the issue. I personally think that targeted help to those areas that are needed more. We can provide the availability of loans at low cost by making smart schemes.
The US President has called India a tariff king. Was this customs cut on many products cut in mind?
We have always tried to resolve the issues related to taxes. We have always taken care of the request to cut the taxes and charges of the industry. This step is part of those efforts. This will also send a good message in business and industry. This will also help the manufacturing sector to move forward as raw materials and its associated products will make our products more competitive in the international market.
It already has a production -based incentive scheme for 14 regions, so that manufacturing sector is strong and generates jobs. How will the manufacturing mission work?
The production -based incentive scheme is going on and the beneficiaries have been selected. They are investing. This is a big success for the government. Now the National Manufacturing Mission will work keeping in mind the entire manufacturing scenario. This will mark the future areas needed.