Exports to touch $400 bn in 2013-14: FIEO

In the Pre-Policy Meeting on the Foreign Trade Policy (FTP) with Commerce, Industry & Textiles Minister in New Delhi on Wednesday, Federation of Indian Export Organisations (FIEO) projected exports to touch USD 400 billion in 2013-14. 

M Rafeeque Ahmed, President, FIEO said that the focus of the new Foreign Trade Policy should be on imparting competitiveness to exports through   lower cost of credit, full rebating of duties and taxes, reduction in transaction cost, better  infrastructure to reduce delivery cycle  and support for aggressive marketing.

"We, simultaneously, need to build on future pillars of exports which could be Brands, Hi-technology products, E –commerce and countries or regions with potential like China, Iran and Africa," added Ahmed.

Ahmed also flagged that the announcement regarding promoting of E-commerce and indigenous sourcing through various scrips has not been operationalised and the same needs to be expedited for implementing the provisions notified in June, 2012. 

FIEO Chief said that 35 percent growth in exports is achievable as it is on a low base provided Government support the same with right mix of policies.