Exports need strong push

The Centre may soon come up with some steps to boost exports. In a meeting held recently, chairpersons of export promotion councils raised a number of concerns ?? including problems in getting credit, requirement of more incentives, MAT on special zones, etc. before the Commerce minister who in turn assured that several support measures are in the pipeline for the sub-sectors that need help. Our exports contracted for the 16th month in a row in March and I hope this time the government would come up with some really strong measures to support faster revival of the sector. According to a recent WTO report, growth in the volume of world trade is expected to remain sluggish at 2.8 percent in 2016. This is not good news for India. Meanwhile, it has been reported that the commerce department is considering setting up a specialized team to negotiate international trade deals. It is a welcome move. Over the past few years, we have signed a number of FTAs with partner countries, but there is widespread criticism that these negotiations have resulted in more imports and less exports by us. Reasons for this is often cited as poorly negotiated deals due to frequent transfer of members and lack of consistent negotiation teams. Courtesy: SME Times

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