Port Wings News Network:
While welcoming the Economic Survey 2018 placed in the Parliament on 29 January 2018, Dr A Sakthivel, Regional Chairman, Federation of Indian Export Organisations (FIEO) Southern Region said that the Survey pointing on revival of Economy and opined that Indian Exports will show double digit growth in the coming years irrespective of growing protectionism across the world.
The finding of the survey that Indian exports are much less concentrated by firms: Top 1% of Indian exporters account for 38 percent of exports, share much greater in other countries: 72, 68, 67, and 55 % in Brazil, Germany, Mexico, & USA, Dr. Sakthivel said that various initiatives taken by the Government helped the start ups to become successful in international trade.
While stressing the for continuation of Duty Drawback and ROSL, Dr. Sakthivel said that in order to keep the momentum of exports and make it competitive, the schemes should continue for 2018-19 financial year period until India attain a respectable 5% share in global trade and all the impeded taxes involved in export products being refunded.
If GDP growth is to pick up to 7.5% as envisaged, we need to generate more employment opportunities and higher export growth is having potential to generate huge employment opportunities. For this, further support is needed for making export competitive.