NEW DELHI: India must set an export target of $300 billion by 2014 as global economies would recover by then, says the Associated Chambers of Commerce and Industry of India (Assocham).
"Export zone requires sustained support as it has suffered the most during the economic downturn," said Assocham president Swati Piramal in an assessment report on export submitted to the commerce ministry.
"A national goal for exports of $300 billion by 2014 would be a step in the right direction for which consultation process should begin now," Piramal added.
In its multi-pronged strategy for accelerating India's export competitiveness, Assocham also suggested that the minimum alternative tax (MAT) on exported goods be removed, apart from calling for separate berths for exporters at major ports.
It stressed on the need for export subsidisation on the lines of economies of scale like that of China to create space for Indian products in markets such as Africa, South America, Nepal, Sri Lanka, Bhutan, Burma, Bangladesh and Pakistan.
According to Assocham, freight rates are also on the higher side and needed to be rationalised.
Source : The Economic Times