Industry seeks export reliefs

 
 
INDUSTRY SEEKS EXPORT RELIEFS 
 
 
FROM OUR CORRESPONDENT
 
New Delhi, March 25 
Indian industry today urged the government to devise supportive schemes to boost exports, continue with the Duty Entitlement Pass Book (DEPB) scheme and introduce procedural simplification.

Industry and trade associations today had a meeting with the Board of Trade and commerce minister Murasoli Maran who said attempts to cut down documentation in the area of excise this was proposed in the Union budget would also be carried out the case of exports.

At the meeting, Ficci president G.P. Goenka said to capture one per cent share in world trade, the annual export growth rate should be at least 20 per cent with services being the major thrust area.

Goenka also urged the government to compensate unrebated taxes in a WTO compatible manner, activate the tariff commission and devise institutional mechanisms to counter barriers to market access in importing countries.

CII president Rahul Bajaj said handicaps facing exporters in the areas of infrastructure and interest rates must also be overcome, adding that he was against government intervention in the foreign exchange market.

The Federation of Indian Export Organisations (Fieo) said the government must continue with the DEPB scheme.

Fieo president Navratan Samdria asked the government to postpone the phase-out of tax exemption, under Section 80-HHC, until specific measures were taken to reduce the transaction cost of exports.

He also suggested extension of export proceeds realisation from 180 days to 365 days.

Chemexcil chairman Ramu Deora said state government levies such as tax and octroi are a major hurdle to export growth.

He said the special import licence scheme is irrelevant because the premium on it is negligible. He suggested support to exporters on the lines of the system followed in China where DEPB/duty drawback and other refund taxes were routed through banks rather than the concerned departments.    

 

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