Presenting the external landscape, FICCI observes that exports are yet to gain momentum on a sustained basis to a level which drives capacity utilisation and fresh investments in associated sectors. Even though world trade growth is expected to witness some recovery in 2024, FICCI expects growth to remain below the longterm average of 4.2 per cent seen between the years 2006-2015. The world trade volume is expected to increase by 3.0 per cent in 2024 and 3.3 per cent in 2025 (vis-à-vis 0.3 per cent in 2023), says the FICCI pre-Budget note.
In that context, FICCI makes a strong case for providing thrust to exports at a time when, India has set for itself an ambitious target of achieving USD 1 billion of exports each for goods and services by 2030, the country's India's external engagements are increasing via FTAS/CECAs and third, there is need to improve efficiency of cross-border trade infrastructure to ensure that no taxes get exported. The industry body has sought revision of rates of duty drawback and RoDTEP to make Indian exports competitive while ensuring that the revised rate structure is WTO compliant.
Bu hikaye The Business Guardian dergisinin June 27, 2024 sayısından alınmıştır.
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Bu hikaye The Business Guardian dergisinin June 27, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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