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Exporters have to deal with only one bank, CII Meeting
23 Jan '08
3 min read
The Commerce Ministry is seriously considering simplifying export procedures, said Mr G K Pillai, Commerce Secretary, Government of India, at a meeting on Foreign Trade Policy and Trade Issues, organised by Confederation of Indian Industry, on Wednesday.
Mr Pillai said: "Our trade policy is complicated. This discourages our exporters. The focus should shift from getting a number of approvals from various government agencies to self-certification. The majority should not suffer for misdeeds of a handful of unscrupulous exporters."
He said the need of the hour is to cut the number of export incentives. "We should have only meaningful incentives to promote the competitiveness of our exporters," Mr Pillai said. He said the government had set a export target of $160 billion for 2007-08. It seems the country will miss the target by $10 billion because of slow growth in some sectors.
Mr Pillai said the the Krishnamurthy Committee will submit its recommendations to arrest the slowdown in exports from labour-intensive sectors. The committee will submit its report by January 31 and suggest measures to deal with the impact of appreciating rupee on exports.
Mr Pillai underlined the importance technology to make exports value added. He assured that small and medium enterprises (SMEs) will be involved in export technology meetings along with chief executive officers.
Mr Pillai said negotiations for FTA between India and ASEAN are on track. Headded FTA talks with Japan, Korea and the European Union are also progressing well. Mr Pillai called upon exporters to file correct returns as any discrepancy leads to misleading export figures of the country.
Mr Pillai said: "Our trade policy is complicated. This discourages our exporters. The focus should shift from getting a number of approvals from various government agencies to self-certification. The majority should not suffer for misdeeds of a handful of unscrupulous exporters."
He said the need of the hour is to cut the number of export incentives. "We should have only meaningful incentives to promote the competitiveness of our exporters," Mr Pillai said. He said the government had set a export target of $160 billion for 2007-08. It seems the country will miss the target by $10 billion because of slow growth in some sectors.
Mr Pillai said the the Krishnamurthy Committee will submit its recommendations to arrest the slowdown in exports from labour-intensive sectors. The committee will submit its report by January 31 and suggest measures to deal with the impact of appreciating rupee on exports.
Mr Pillai underlined the importance technology to make exports value added. He assured that small and medium enterprises (SMEs) will be involved in export technology meetings along with chief executive officers.
Mr Pillai said negotiations for FTA between India and ASEAN are on track. Headded FTA talks with Japan, Korea and the European Union are also progressing well. Mr Pillai called upon exporters to file correct returns as any discrepancy leads to misleading export figures of the country.
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