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The Federation of Indian Export Organisations (FIEO) hopes that the new government in Karnataka will help boost export growth.
Walter D’Souza, Chairman of FIEO (Southern Region), told Business Line that in the face of continuous political instability witnessed in Karnataka, growth in many spheres was hampered during the last few years. The growth in exports has not been an exception, he said.
The results of Karnataka Assembly elections have cleared the clouds of uncertainty. “The positive mandate given by the electorate to the new Government, to be formed in a few days, should pave the way for uninterrupted healthy growth in all walks of life, especially in the field of exports,” he said.
The draft export policy, submitted by the FIEO to the Karnataka government, has to be given effect to. It is possible to bounce back and move with a growth trajectory in exports for the state, he said.
Once the new Government settles down, its priority should be to clear many of the pending files such as refund of VAT (value-added tax) to the eligible exporters and to use the funds under ASIDE (Assistance to States for Development of Export Infrastructure and Allied Activities) scheme effectively.
FIEO expects consistent pro-active response from the new Government in this direction, D’Souza said.
If the ambitious target set before the nation under the Foreign Trade Policy has to be achieved, each state has to be focused in contributing its share of exports. Each state has a role to play in achieving the national target and a major share has to come from states such as Karnataka that has the inbuilt potential to grow exponentially, he added.
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