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India needs to move fast when it comes to decision-making. Moreover, issues like refund of embedded taxes and legal complexities on land purchase need to be resolved in order to boost exporters’ confidence.
According to Sharad Kumar Saraf, President, Federation of Indian Export Organisations (FIEO), despite trade headwinds there is scope for a 15 per cent growth in exports this fiscal. But, such a growth is possible only when the Centre can ease regulations and increased capacities can be built for increased exports to US, China and the UK.
With a trade war between the US and China, Indian exporters have been receiving a number of business queries. These are expected to materialise over a period of time. Similarly, Brexit will offer greater opportunities for Indian exporters. The Union Commerce Ministry recently identified over 200 products where India’s exports could be increased to the US, replacing Chinese goods, and 150-odd items where exports to China could rise.
“Be it the trade-war between US and China, or Brexit, there is opportunities that Indian exporters should take. A 15 per cent growth in exports this fiscal is possible. But for that the Centre must step in by easing regulations and other confidence boosting measures,” he told BusinessLine during an interview.
According to Saraf, the Centre has to come up with schemes that will help in allocation of land for setting up units. Regulations and legal issues relating to allocation or purchase of land should be taken care of, he said.
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