Industry & Economy
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Industry Associations
`Allow zero duty on import of inputs for exporters'
Our Bureau
New Delhi
,
Feb. 6
THE Associated Chambers of Commerce and Industry of India has sought duty-free imports of all inputs for exporters who export at least 40 per cent of their total production.
In a paper for the forthcoming Foreign Trade Policy to be submitted to the Commerce and Industry Ministry, the Assocham President, Mr Mahendra K. Sanghi, said that since exporters will have to take on cut-throat competition in post MFA, duty-free imports of all inputs required for export production should be allowed.
In the trade policy, provisions should be incorporated so that exporters are permitted to import items necessary under the export contract, he added.
Meanwhile, with a view to enabling garment exporters broadbase their markets as well as products, a special duty-free licence calculated at 5 per cent of their export turnover in the preceding year should be issued to garment exporters on actual user basis for import of new fabrics/trimmings/accessories, not available in the country in sufficient quantity.
In respect of merchant exporters, the name of the supporting manufactures should be stated on the shipping bills to give the latter the advantage of the special 5 per cent licence, the chamber said.
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