Economic Survey 2013: Urgent attention requires on infra, taxes to boost exports

According to the survey, the recent global slowdown has thrown up new challenges for India with its export growth being continuously negative since May 2012 compared to high growth rates of even above 50 per cent in some months of the previous year.

Making a marginal recovery, India's exports entered the positive zone after a gap of eight months, recording a growth of 0.82 per cent to USD 25.58 in January.

The survey, tabled by Finance Minister P Chidambaram in Parliament today, said the government has limited fiscal space and with protectionist measures of trading partners showing signs of rising, the policy options left are more at the micro level.

"Thus there are many micro, port-specific and sector - specific issues that need urgent attention. These are related to infrastructure, trade facilitation, tax and tariffs, and

credit, and can realistically be addressed in the short and medium term.

"Addressing these issues, as is currently being done by the government, can exponentially promote India's export growth," it said.

On infrastructure related issues, it said that even the best of Indian ports do not have state-of-the-art technology as in Singapore and Shanghai.

On trade facilitation measures, the survey said there is a need to simplify the multiple documentation procedures as on an average Indian exporter is required to sign at about 130 places to complete an export transaction.

These procedures and costs need

... contd.