Technological Imports Should Have Been Incentivised - ASSOCHAM.

New Delhi: President, Associated Chambers of Commerce and Industry, Dr. Swati Piramal welcomed policy pronouncements of ‘Annual Foreign Trade Policy’ saying that most of these are industry & user-friendly but it would have been more appropriate if technological imports could have been incentivised to make Indian exports competitive.

In a statement Dr. Piramal said extending duty entitlement passbook scheme and zero duty export promotion for capital goods are welcome measures as also giving an assurance that India would be able to achieve $200 billion export target in current fiscal is encouraging. The ASSOCHAM is slightly doubtful that with increasing global consolidation and exports showing slump, the target of $200 billion for current fiscal exports is still ambitious.

However, Dr. Piramal added that though the government is committed to continue to providing sops for exporters in capital goods and textiles, schemes should have been announced to facilitate technological imports to increase competitiveness of domestic industry as also encouraged setting up of R & D especially by those who are licensed for setting up manufacturing facilities In the country.

Source : orissadiary.com