Amid uncertainties in international trade, the Director General of Foreign Trade (DGFT) Alok Chaturvedi has said the government is working on a comprehensive strategy to boost exports. He added ‘we have taken inputs from entities like Exim Bank, FIEO and others’. Besides, India’s total exports including services touched $500 billion last year, registering a growth of 13.5%.
Chaturvedi further said that the increase in tariffs and volatility in currencies were adding to the woes of exporters, coupled with political tensions in Iran, Russia and the Middle East. About the complaint filed by the US in the WTO against India providing subsidies to exporters, he said that the matter was being negotiated with America.
DGFT also said that all taxes and duties should be refunded to exporters, including those outside the purview of GST and for this, a committee has been set up which is looking into these issues. However, he said it was not possible for the government to provide production subsidies, due to budgetary constraints, adding that exporters could be reimbursed for complying with the international regulatory norms.