India Inc pitches for DEPB scheme extension

The chambers demanded the policy review should be targeted towards increasing exports from agriculture and small and medium enterprises. According to CII, the contribution of agriculture in total exports is 11 per cent, which needs to be stepped up. The policy also 8220;needs to focus on simplifying the procedures both for exports and imports to facilitate higher growth rates.

Ficci has suggested that ports notified by the Customs Department for general import and export with valuation facility should be considered as ports under 8216;export promotion schemes8217;. Validity of licence should be increased from six months to two years for export of special chemicals, organisms, materials, equipment and technologies.