Demonetisation to impact India's EXIM trade in Oct-Dec: Maersk
Government's decision to ban use of old Rs 1,000 and Rs 500
currency notes is expected to impact adversely the growth of export-import
(EXIM) trade, shipping giant Maersk Line said in a report.
Government's decision to ban use of old Rs 1,000 and Rs 500
currency notes is expected to impact adversely the growth of export-import
(EXIM) trade, shipping giant Maersk Line said in a report.
"Trade wise, Maersk Line expects India's EXIM growth in
the fourth quarter (October-December) to be slower than third, as a result of
the demonetisation exercise undertaken by the government in November this
year," the global containerised division of the Maersk Group said in a
statement.
"Limited availability of new currency in the hands of
people will impact exports in sectors like agriculture due to high number of
cash transactions," Maersk Line Managing Director (India, Sri Lanka and
Bangladesh Cluster) Franck Dedenis said.
However, such initiatives are aimed at helping government
realise its long-term goal of improving infrastructure and introducing
regulatory framework. This can ease business operations, simplify taxation
system, boost demand and promote transparency in the country, he added.
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