Russia Ukraine War: Due to Ukraine-Russia dispute, 800 crore rupees of Punjabis have been stuck. Russia Ukraine War Ukraine The dispute in Russia has started affecting the industries of Punjab as well. Of the orders worth Rs 1,100 crore exported in the last 3 months, the payment of Rs 800 crore is still pending.
Ludhiana [Munish Sharma]. Russia Ukraine War: The Ukraine-Russia battle, which has become a matter of concern for the whole world, has started affecting the industries of Punjab as well. Out of orders worth Rs 1,100 crore exported from the state in the last 3 months, payment of Rs 800 crore is stuck. Due to this, there is a fear of financial loss to the traders. Recently, the ECGC scheme of the Central Government was also withdrawn on 25 February. Along with this, due to closure of transactions in Swift Bank by the five main banks, the amount of Rs 800 crore of exporters will be stuck. This includes export units of many important products from Punjab's engineering goods to hand tools.
Export is close to 1500 crores every year
Industrialists have demanded from the central government to get their stuck money out in the event of this calamity or to give them relief on the basis of it. If we talk about exports from Punjab to Ukraine and Russia, then every year about 1500 crore exports go to these two countries from Punjab. While talking about imports, many products related to oil are imported close to 14000 crores. Due to this war, the exporters of Punjab are also facing a lot of problems.
Industry appeals to the government for help
Badish Jindal, president of All Industry and Trade Forum, said that the guarantee scheme given by the government has also been discontinued. In such a situation, exporters will have to face problems due to stagnant funds. To give impetus to Make in India, exports are done by the companies to different countries. Now in such a critical situation, the government should come forward and help the industry. Harsimranjit Singh Lucky, MD, Lucky Exports said that even though at this time we are facing problems regarding our payment. But we are with our buyers in this critical situation. In this era, the central government should increase the limit till their payments come here by giving interest waiver to the companies whose payments have been stopped.
This year's export from Punjab
- Auto parts 50 cr
- Electric Equipments 500 crore
- Hardware 300 cr
- footwear 30 crore
- Garment and Textile 500 crore
- hand tool 50 cr
- Rubber And Plastic Parts 300 Cr
- 400 cr in other products
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