Save exports

2026-01-30 - 01:26

THE textile sector has issued an SOS (Save Our Souls) call to the government for its survival, urging prompt measures to reduce the prices of electricity and gas and the tax burden to make it competitive and viable in the export market. The rice exporters are also under great pressure as they are facing tough competition from countries like India and Vietnam. The business community has long been drawing attention of the government towards the need for genuine policy decisions to reduce the cost of doing business but regrettably the authorities concerned did not attach much weight to their concerns mainly because of the IMF considerations. That is why exports are falling and the worst is to come in the backdrop of the recent EU-India Free Trade Agreement (FTA), which will erode the country’s long-standing competitive edge in the European textile market. Rice exports are also facing challenges with data indicating a sharp, 68.52% fall in total exports during the first half of the 2025-26 fiscal year, with Basmati shipments plummeting by over 93%. The Minister for Commerce has swung into action by initiating contacts with several rice-consuming countries to have exports. The government also has plans to approach the IMF for review of some of the measures in view of the emerging realities but there is a need to do it in a timely manner. In the given situation, all stakeholders should sit together and formulate a workable strategy to bail out exports by reducing the cost of production.