Sitharaman discusses growth strategy with export bodies

Exporters from various sectors such as pharmaceuticals, textiles, chemicals, engineering goods, farm products and marine products discussed their specific problems and ways of boosting exports in a meeting with Nirmala Sitharaman, Minister for Commerce and Industry, on Tuesday.

Sitharaman said her Ministry will work with various departments including environment, textiles, external affairs and finance to boost exports and also address tax related issues.

The 12 export promotion councils (EPCs) attending the meeting also raised the issue of the impact of India-Asean free trade agreement on the country’s exports.

Commerce Secretary Rita Teaotia said that the Centre had already started a review of the FTA. The Centre will also look into the likely impact of GST on exports, she said.

The Minister asked representatives of the EPCs to inform the Ministry about “what is not happening and what should ideally happen,” an official release said.

India’s goods exports declined for the thirteenth consecutive month in December as the slowdown in major global economies continued to shrink demand.

Most EPCs made a case for an increase in duty drawbacks, inclusion of more items in the export incentive scheme MEIS, and abolition of the service tax on exports.

The EPCs also pointed out the need to address problems arising out of online applications and delays in getting environmental clearances. They also sought more measures aimed at ensuring the ‘ease of doing business’.