Exporters cannot blame Free Trade Agreements for their own lack of competitiveness in the international markets, said Commerce Secretary Rita Teaotia.
The Commerce Ministry is doing its part to enhance efficiency by simplifying procedures and paper work and is continuously interacting with the Customs Department to simplify and speed up procedures.
India has entered into 11 FTAs and is in the process of tying up similar agreements with Canada. The ongoing RCEP (Regional Comprehensive Economic Partnership) talks with ASEAN countries and their FTA partners are of key importance.
Addressing media persons on the sidelines of an interaction with the Federation of Indian Exporters Organisations in Chennai, she said the Ministry is taking concerted action to bring down transaction costs.
A press release from FIEO said exporters are hoping for the early implementation of the interest subvention scheme as cost of credit is high, hitting competitiveness. It needs to be announced with retrospective effect from April 2014 or at least from the start of the current financial year.
Though export documents have been simplified, the changes have not been incorporated in the related software including Customs related work and banks are not accepting the papers, the release said.
The garment exporters are hoping the government expedites FTAs with Europe, Australia and Canada, the release said. This will increase their competitiveness over South Asian and South East Asian competitors.