Industry asks govt to declare exports as national priority

Stressing on the role of exports in the country’s overall economic development, industry today asked government to declare it a national priority while seeking a growth-oriented exim policy with a new export promotion scheme to reimburse indirect local taxes.

Stating that local taxes such as sales tax, service tax, octroi and electricity duty were not reimbursed by existing schemes including advance licence, dfrc, depb or drawback, industry captains said entire procedures and practices relating to deemed exports needed a review. Speaking at a pre-exim policy meeting with Commerce Minister, chairman cii committee on technology and innovation Hari Bhartia said “we need a quick transparent system for refund for sales tax where sad is exempted, extention of deemed exports benefits to sectors such as coal, mining, coal bed methane. Also current system of payment and refund of excise duty must change to an exemption of paying excise duty”. Noting that the country’s exports had grown by 17.38 per cent in April-January 2002-03, he stressed on the need to strengthen the country’s national brand as also promote services and build “served from India” brand. The industry outlined the need to extend policy benefits of sezs evenly throughout the country and asked government to introduce the concept of virtual sezs.