Government Forms Committee to Tackle Export Challenges Amid High US Tariffs
A committee has been established to address tax and export clearance issues affecting Indian manufacturing units, exacerbated by stringent US tariffs. This panel includes government, industry, and expert representatives, tasked with investigating how current tax structures impact competitiveness and suggesting improvements.
- Country:
- India
The Indian government has formed a dedicated committee to delve into the tax and export clearance hurdles currently facing the manufacturing sector. This arises amid the imposition of steep tariffs by the United States, which significantly impact the competitiveness of Indian goods in the American market.
The committee is composed of representatives from several key government and regulatory bodies, including the finance ministry, Department for Promotion of Industry and Internal Trade (DPIIT), Department of Commerce, Directorate General of Foreign Trade (DGFT), and the Reserve Bank of India (RBI). Also featured are special invitees from industry chambers, the Federation of Indian Export Organisations, various export promotion councils, and consultancy firms.
Tasked with examining the influence of existing export-related tax structures and clearance procedures on the manufacturing sector's competitiveness, the panel will also identify specific challenges in high-potential export areas. Additionally, they will study and recommend global best practices to streamline processes and suggest actionable policy reforms. The committee has a deadline of two months to submit its findings.
(With inputs from agencies.)
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