We do four things at internationally competitive prices (tourism, international business, rum and green energy) and the foreign exchange we earn and save from these is used to fuel the imports we need for production and consumption. To grow the economy sustainably, we have to grow the foreign exchange earning sectors. Fiscal stimulus is not sustainable, because government doesn’t earn foreign exchange.
EDI provides several benefits to the corporates such as operational efficiencies and cost savings by elimination of paperwork, logistical benefits by better scheduling and reduced stockholding etc., and strategic benefits through competitive and advantage and access to new markets. Under the EDI project, one of the major benefits for the exporters is that the RBI has abolished GR forms for export transactions.