Government working on strategy to boost exports: DGFT

The government was working on a comprehensive strategy to boost exports amid "challenging times", Director General of Foreign Trade (DGFT) Alok Chaturvedi said today.

The total exports including services from India touched USD 500 billion last year, registering a growth of 13.5 per cent, he said at a session organised by ICC here.

"These are challenging times. There are uncertainties in international trade. The government is working on a comprehensive strategy to boost exports. We have taken inputs from entities like Exim Bank, FIEO and others," Chaturvedi said.

He 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.

Regarding the complaint filed by the US in the WTO against India providing subsidies to exporters, the DGFT said that the matter was being negotiated with America.

He said that all taxes and duties should be refunded to exporters, including those outside the the purview of GST.

"For this, a committee has been set up which is looking into these issues," Chaturvedi said.

He, however, 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.