New Delhi: India Inc. has made out a case for extension of the flagship duty reimbursement scheme for exporters, lifting the export growth target from 25% to 30%.
In separate recommendations for the ensuing review of the Foreign Trade Policy in April, apex business chambers - FICCI and CII have said the Duty Entitlement Pass Book (DEPB) scheme ending March 2007 should be extended.
The chambers demanded the policy review should be targeted towards increasing exports from agriculture and small and medium enterprises.
CII said contribution of agriculture in the total exports is only 11% and should be stepped up. The policy also “needs to focus on simplifying the procedures both for exports and imports to facilitate higher growth rates,” it said.
The industry body added that if the current trend is maintained, exports will touch $130 billion in 2006-07. Exports have already reached $99.13 billion till January 2007.
It also said improved port connectivity could enhance exports further.