This Friday, Finance Minister Nirmala Sitharaman suggested that India has to ease certain taxes that become a burden on exporters.
“We can’t be exporting taxes.’ We also should identify ways in which those taxes – whether Centre, State or local – that are on these products should be removed so that we don’t burden their exporters,” this statement is given by Nirmala Sitharaman.
She also stated that the Commerce Ministry is developing its export policy that would help exporters by providing incentives and promoting a variety of items.
India has the vision to reach a $2 Trillion export value by 2030. Also, set a target of contributing to the global trade to 3% by 2027 and reach this value and contribute 10% by 2047.
Sitharaman said the rising cost of power and logistics was also having an impact on exports while advising the states to adopt a multi-modal strategy and make sure logistics did not become a burden for exporters.
Enough for now, stay tuned with Exim Trade Data.
