Budget 2019: Exporters body FIEO demands support measures from government to boost exports

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

Press Trust of India January 30, 2019 13:26:59 IST
Budget 2019:  Exporters body FIEO demands support measures from government to boost exports
  • 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

  • In November 2018, the country's exports grew by 0.8 percent, while in December 2018 it rose by a marginal 0.34 percent

  • During April-December 2018, the country's total exports grew 10.18 percent to $245.44 billion

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.

Budget 2019  Exporters body FIEO demands support measures from government to boost exports

Representational image. Reuters.

"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.

Follow full coverage of Union Budget 2019-20 here

 

 

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