With exports recording continuous growth, exporters body FIEO expects that the country’s merchandise shipments would reach USD 325 billion this fiscal. Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta also said while India is showing a positive trend on exports since the last nine months, there is a bit of anxiety in the business with regard to the Goods and Services Tax (GST).
“Indian exports have been on an upward trend in last few months with export of USD 275 billion in last fiscal and a target of USD 325 billion to achieve in 2017-18,” FIEO said in a statement. Further, it has organised an interactive session with Commerce Secretary Rita Teaotia in Kolkata. Quoting the secretary, FIEO said, “GST is a well needed reform and the transition will require some time, and calibrated process of foreign trade policy will be continuous”. With regard to shipping lines overcharging, she stated that the Director General Shipping has been informed and they are waiting for a response from them.