The high-level Board of Trade (BOT) chaired by Commerce and Industry Minister Anand Sharma will meet on Tuesday to review India’s export performance.
“The board will review export performance and the industry is expected to raise issues like high interest rates, infrastructural bottlenecks, interest subsidy for more sectors and some more benefits for special economic zones in the meeting,” sources said.
The meeting, which will have representation from the ministries of finance, external affairs, MSME and industry chambers and export promotion councils, will suggest steps to further boost exports.
Besides, the meeting will also discuss the impact of the rupee fluctuation on the country’s exports, source added.
The domestic currency had last week touched an all-time low of 65.56 against the US dollar.
Although exports have recorded a growth rate of 11.6 per cent in July, major sectors like gold and jewellery and engineering are still in the negative zone.
Snapping two consecutive months of decline, shipments grew to $25.83 billion in July.
According to industry experts, the target of $325 billion for the current fiscal is difficult to achieve.
Apparel Export Promotion Council (AEPC) said it would seek waiver of service tax on few services.
“Besides, we will also raise few concerns related with labour laws and steps to reduce transactions cost,” AEPC Chairman A Sakthivel said.
Industrialists who are expected to attend the meeting include Bharti Enterprises Chairman and Group CEO Sunil Bharti Mittal, FICCI senior Vice-President Sidharth Birla, Jubilant life Sciences CMD Hari S Bhartia, Hero Group chief Pawan Munjal and Onkar S Kanwar of Apollo Tyres.