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Our Bureau

New Delhi , Jan. 10

THE Federation of Indian Export Organisations (FIEO) has called for reducing transaction costs and the incidence of taxation to make Indian exports globally competitive.

In its pre-budget presentation to the Commerce Ministry, the industry body highlighted the problems being faced by exporters and sought their redressal to boost Indian exports, the FIEO President, Mr O. P. Garg, said in a release here.

"Indian exports face a high-cost disability factor ranging between 19 and 21 per cent, covering un-neutralised taxes and duties, high cost of credit, power and ground level transaction costs," he said. Competition from China must be analysed carefully to strengthen the Indian position on the export front, he said, adding that the country should also build a large production capability for which an export profit reserve can be introduced, entailing 50 per cent tax exemption.

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