The Hindu Business Line : Govt looking at full refund of levies: Kamal Nath

New Delhi, Oct. 1 The Government is looking at measures to provide relief to the exporters in the wake of the rising rupee by trying to refund all taxes and levies that exporters pay.

“We are looking at full refund of levies by the State Governments and Central Government,’ said Mr Kamal Nath, Commerce and Industry Minister, at the Golden Jubilee celebrations of CAPEXIL (Chemicals and Allied Products Export Promotion Council) in the Capital on Monday.

The Government will shortly hold a meeting with all the export promotion councils in this regard, he said.

Facilitator role

On the appreciating rupee, the Minister said, “India is not a country that calibrates its currency. The exchange rates are based on a basket of currencies”. It is the exporters who must plan and strategise in the future and the Government would like to be a facilitator in the process, he said.

He called for backward and forward linkages for a positive impact of export growth on the national economy.

“I am aware that many products of CAPEXIL have great employment potential as also the potential for higher asset growth. Along with the increase in the export revenue, it will be in the overall national interest to concentrate on more employment generation and wealth creation for the country,” he said.

Identifying markets

Earlier, the Lok Sabha Speaker, Mr Somnath Chatterjee, said, “For efficient management and promotion of export, one needs to identify the potential markets, overcome operational constraints and introduce latest technology at par with changes in other part of the world”.

CAPEXIL was set up in 1958 by the Ministry of Commerce. It started with 71 members and now has 4,000 plus members with an export turnover of about $10 billion.

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