Exporters are demanding support measures, including enhanced allocations for RoDTEP scheme, high import duty on plastic finished goods, setting up of an Indian shipping line and reinstating exemption for duty free import of critical inputs for leather products, in the forthcoming Budget to promote growth of the country's outbound shipments.
The Federation of Indian Export Organisations (FIEO) stated that there is a need to encourage large Indian entities to build an Indian shipping line of global repute.
''We need to bring the Double Tax Deduction Scheme for Internationalizations to allow exporters to deduct against their taxable income. A ceiling of US$5 lakh may be put under the scheme so that the investment and tax deduction are limited,'' added FIEO Director General Ajay Sahai.
Plastics Export Promotion Council of India (Plexconcil) Chairman Arvind Goenka suggested that the import duty on plastic finished goods should be atleast 5 per cent higher than polymer raw materials.
(With inputs from PTI)
