KOLKATA: India needs to move fast when it comes to decision-making.
Moreover, issues like refund of embedded taxes and legal complexities on
land purchase need to be resolved in order to boost exporters’
confidence. According to Sharad Kumar Saraf, President, Federation of
Indian Export Organisations (FIEO), despite trade headwinds there is
scope for a 15 per cent growth in exports this fiscal.
But, such a growth is possible only when the Centre can ease
regulations and increased capacities can be built for increased exports
to US, China and the UK.
With a trade war between the US and China, Indian exporters have been
receiving a number of business queries. These are expected to
materialise over a period of time. Similarly, Brexit will offer greater
opportunities for Indian exporters. The Union Commerce Ministry recently
identified over 200 products where India’s exports could be increased
to the US, replacing Chinese goods, and 150-odd items where exports to
China could rise.
Be it the trade-war between US and China, or Brexit, there is opportunities that Indian exporters should take.
A 15 per cent growth in exports this fiscal is possible. But for that
the Centre must step in by easing regulations and other confidence
boosting measures, he said.
According to Saraf, the Centre has to come up with schemes that will
help in allocation of land for setting up units. Regulations and legal
issues relating to allocation or purchase of land should be taken care
of, he said.
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