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Foreign Trade Policy needs to focus more on agricultural products - CII
26 Mar '07
2 min read
The Government should ensure stability in policies with no mid-year or sudden changes to enable long term planning for exports and focus more on labor-intensive sectors like textiles, handicrafts, leathers etc.
In the suggestions submitted for the Annual Foreign Trade Policy Supplement 2007-08 to Mr. Kamal Nath, CII has asked for continuation of the Duty Entitlement Pass Book (DEPB) scheme till 2009.
An important problem that the Foreign Trade Policy needs to focus on is that exporters are not exempted from Central Sales Tax, Fringe Benefit Tax, Service Tax and Octroi, which makes Indian exports uncompetitive in the global market, said Mr. Budhia. The Policy needs to bring a mechanism for exempting these taxes.
In the suggestions submitted for the Annual Foreign Trade Policy Supplement 2007-08 to Mr. Kamal Nath, CII has asked for continuation of the Duty Entitlement Pass Book (DEPB) scheme till 2009.
An important problem that the Foreign Trade Policy needs to focus on is that exporters are not exempted from Central Sales Tax, Fringe Benefit Tax, Service Tax and Octroi, which makes Indian exports uncompetitive in the global market, said Mr. Budhia. The Policy needs to bring a mechanism for exempting these taxes.
Confederation of Indian Industry
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