Financial Daily from THE HINDU group of publications
Tuesday, Jan 24, 2006


Group Sites

Industry & Economy - Exports & Imports

Exporters to meet PM on grievances

Our Bureau

New Delhi , Jan. 23

THE Prime Minister, Dr Manmohan Singh, is meeting exporters to ascertain their ground-level grievances even as the country's exports performed well during the first three quarters of the current fiscal clocking a growth of 18.03 per cent in dollar terms.

Sources in the Government told Business Line that though the Commerce Minister, Mr Kamal Nath, had initiated the meeting the Commerce Ministry has not prepared any formal agenda.

The idea is to let the exporters air their viewsso that Dr Singh gets to know first-hand the problems plaguing the sector.

Some of the problems affecting the exporters include poor infrastructure, high cost of finance and the fear of losing some of the tax-exemptions and duty exemptions they are accustomed to.

Exporters also lament the levy of multiple taxes and their non-refund or delayed refund such as service tax, which directly detracts their competitiveness. The uncertainty over the new scheme replacing the Duty Entitlement Passbook (DEPB) scheme and the continuation of the extant DEPB scheme for another six months till the new scheme is announced has reduced the morale of exporters as the costing for any order is done six to eight months before shipment of exports.

Even as exporters have been pleading for a total cessation of reopening of past cases on profits earned from the sale of DEPB credits, the recent announcement by the Central Board of Direct Taxes staggering the demands over five-year period has not altogether relieved them of the problem.

With exports doing relatively better against all the odds in the external market, the least the exporters expect from the government is a phase free from policy-induced distortions or plans that might upset the exporters commercial calculations when they have factored in drawback or other export profits as part of their export proceeds.

More Stories on : Exports & Imports

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Kerala Chamber to host Gulf investors meet in March

Power reforms to be thrust area: PM
Inflation outlook uncertain on rising oil prices: RBI
Opening eyes and mindsets
Special pharmacy for HIV infected in Pune
RITES to prepare blueprint for rail, road infrastructure for Paradip port
`Oil boom in the Gulf will throw up $1 tr surplus capital'
IOC's Paradip-Haldia pipeline commissioning may be delayed
Visakha box terminal throughput reaches 1,00,000 TEUs
ONGC set to start deepwater projects in K-G basin by June
Russia keen to supply nuclear plants to India
US-India tax practitioners seek alternate dispute resolution
TN Govt urged to revoke ban on toddy tapping
TN Govt committed to taking over cable TV MSOs: Jayalalithaa
Dr Fixit Institute, US body tie up
`Realtors may have to focus on non-metros'
Architectural outsourcing - drawing a new design
Easier textile gear import norms likely
`Power, roads good investment sectors for Japan in India'
Amex's security product targets frequent travellers
2-day ICAI seminar in Mangalore from Jan 27
`Efficiency in usage, R&D vital for energy independence'
DST ties up with UNDP for entrepreneurial development scheme
Hotel, travel, tourism sectors — Govt plugs loophole in car imports under EPCG scheme
FICCI calls for fast-track dispute resolution mechanism
Exporters to meet PM on grievances
Kerala Tourism's new `monsoon campaign'
New chief for ICSI Hyderabad chapter

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line