CII Proposes Measures to Boost Exports and Attract Investments
The Confederation of Indian Industry (CII) has proposed several measures to boost exports and attract fidelity investments, as highlighted in its recent report. These include setting up a special cell for market promotion, reducing export credit costs, and establishing a national task force led by the Prime Minister's Office.
CII suggests establishing a special cell to tackle non-tariff barriers and promote exports. It also recommends reducing the cost of export credit by linking subsidies to global rates instead of a fixed 5 percent. To further enhance export efforts, CII proposes a national task force led by the Prime Minister's Office.
Special Economic Zones (SEZs) have already attracted significant investment basics, generating employment and exports. CII suggests extending tax benefits and incentives for SEZ units and developers for another 5 years. It also proposes creating a National Shipping Regulatory Body to manage shipping freight rates.
CII's report 'Indian Exports - The Next Trajectory' identifies key products and destinations for targeted export strategies. Additionally, CII recommends setting up a task force to strategize India's participation in global value chains.
Exports play a vital role in driving sustained economic growth and have numerous positive impacts on the domestic economy. CII also recommends prioritizing Coastal Economic Zones (CEZ) in upcoming infrastructure spending to further boost exports and fidelity investments.
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