Obstacles to exports worry industry

A recent survey PHD Chamber of Commerce and Industry PHDCCI lists some of the factors that are increasing transactions cost and, hence, eroding the competitiveness of Indian exports. The chamber undertook a survey of exporters in order to identify these factors. 8220;We hope the detailed documentation of these irritants will receive the attention of the concerned authorities8221; said Sanjay Bhatia, president of PHDCCI.

Arbitrary inland haulage charges levied by shipping lines have been identified as the first factor. High charges levied by banks for sending export bills and other messages to foreign banks, which exceed the actual cost incurred by them, are identified as the second. The study also points to the continuous fall of the US dollar vis-agrave;-vis the rupee as a factor. It urges the RBI to devise mechanisms for protecting exporters from currency risks.