GST should be introduced earlier than July, says FIEO President

Hailing the Economic Survey 2016-17 that was presented today to the parliament, drawing a road map for revival of Indian economy, President of Federation of Indian Export Organisation (FIEO), S C Ralhan said that post demonetisation era has opened vistas of opportunities for formal employment.

Ralhan suggested that GST be rolled out earlier than the scheduled date. "The government should roll out the GST from 1st April 2017 so that not only the cascading effect of taxes is avoided but also the Indian logistics get a push by making India a single market and establishment of efficient warehouses based on market demand to reduce logistics cost."

According to Ralhan, identifying the potential of apparel and leather sectors, where China is slowly exiting the market, is both important for exports as well as employment. "There is need to bring a comprehensive package for leather and footwear sectors on the lines of the apparel and made-ups sectors, which was announced by the Government few months back," said Ralhan.

He also welcomed the move to work out the FTA with EU and UK to provide Indian exporters a level playing field with regards to our competitors in Bangladesh, Vietnam, Indonesia and Ethiopia.