New Delhi: Exporters body FIEO on Tuesday expressed concerns over slow growth in exports and demanded support from the government in the forthcoming interim budget to boost outbound shipments.
Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta said the export data for past two-three months, which are showing low or marginal growth, is a matter of concern to all.
"I expect that the budget, though an interim one, will unveil certain benefits, particularly for MSME sector, and for those specific product clusters and research and development, which will help in increasing exports, giving a boost to manufacturing and job creation," he said in a statement.
In November 2018, the country's exports grew by 0.8 percent, while in December 2018 it rose by a marginal 0.34 percent.
Gupta asked for a refund of state taxes, including levies on petroleum and electricity.
"Promoting exports in the budget and giving it much-needed support at a time when the global economy is facing a slowdown, will come as a morale booster for the sector," he added.
Employment creation is the biggest challenge in the country and therefore the budget should provide tax concession to units which create jobs in the country, he said.
Gupta also demanded setting up of an export development fund for marketing of products.
During April-December 2018, the country's total exports grew 10.18 percent to $245.44 billion.
The interim budget will be presented on 1 February.
To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day.
To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.
Firstpost is now on WhatsApp. For the latest analysis, commentary and news updates, sign up for our WhatsApp services. Just go to Firstpost.com/Whatsapp and hit the Subscribe button.
Updated Date: Jan 30, 2019 13:38:08 IST