Battling COVID-19: What the industry wants

CII has suggested a bouquet of measures to help businesses battling the 21-day shutdown

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Ease of doing business

  • Enhance validity of existing licenses, approvals and NoCs
  • Quick disbursal of pending dues to the private sector
  • Speedy clearances for Pharma and Chemical industries
  • Extend sunset date of SEZ units for direct tax benefits

Logistics

  • Transport sector be deemed essential service
  • Ways & means advance to pay salaries
  • Single government point of contact for supply chains
  • States can appoint private sector to handle warehousing and transport


Medical equipment and supplies

  • Speedy clearance of medical devices at ports
  • 0% import duty on critical medical devices
  • Respite from bank repayments for MedTech manufacturers
  • 0% import duty on sanitizers, masks and personal protection goods

Digital payments

  • Extend incentive for customers and merchants to adopt digital payments
  • Tax rebates for businesses with 70% digital transactions
  • Mass ad campaing for digital transactions & e-comm
  • Prohibit convenience fees and service charges

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MSMEs

  • License NBFCs to issue cards to SMEs for working capital credit
  • 60 day extension for payment of income tax and GST
  • Extend business insurance policies and coverage
  • Extension of bank EMIs till June 30

Textiles & Apparel

  • Extend 0% interest loans equivalent to govt dues
  • Wage subsidy up to 50% for registered workers for 2 quarters
  • Exempt raw materials from anti-dumping duties
  • Working capital at max 7% from April-Dec 2020

Tourism & Hospitality

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  • 6-9 month moratorium on working capital principle, interest payments
  • GST holiday for hotels, tour packages and reservation services
  • Short-term interest free or low interest loans
  • Doubling of overdraft limits
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