The Hindu Business Line : Jaitley promises more sops to improve export competitiveness

The Minister for Commerce and Industry, Mr Arun Jaitley, with the Commerce Secretary, Mr Deepak Chatterjee, at the export award function of Capexil in the Capital on Friday. - Ramesh Sharma

New Delhi , Nov. 7

A DAY after the Government extended major sops to units in the special economic zones (SEZs), the Union Commerce and Industry Minister, Mr Arun Jaitley, promised that more steps would be taken to improve the competitiveness of Indian exports.

"Slowly but surely, we are making changes that would help improve the competitiveness of Indian exports. We do realise that those who export are faced with tough competition from abroad. We need to provide a playing field where you can compete," Mr Jaitley said in his address at an export award presentation ceremony of Capexil.

The Government announced on Thursday that units in SEZs would be exempted from payment of statutory dues for a five-year period covering the Employees' State Insurance (ESI) and Employees Provident Fund (EPF).

Noting that the current year would be a "challenging year" for Indian exports, Mr Jaitley said that the Government was anxious to make sure that the exporting community was allowed to perform to its best ability and that its energies were unleashed to bring about further growth.

He said the Government was conscious that the hardening of the rupee would affect export competitiveness and that the exporters are "grappling" with the situation through their own efficiencies.

"We are keeping a close watch on the situation," Mr Jaitley said.

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Jaitley promises more sops to improve export competitiveness