Industry seeks export promoting measures

New Delhi, December 17

Finance Minister Nirmala Sitharaman today held discussions on regulatory environment impacting private investment and measures for promoting exports in a pre-Budget consultation with industry, trade and services sectors.

The representatives submitted suggestions concerning reduction of compliance burden and tax litigation, allowing self-certification in low-risk industry, decriminalisation of tax and company laws.

Besides, they demanded reduction of cost of equity capital, simplification and rationalisation of duties and labour laws, adoption of international standards of alternative dispute resolution, export development funds for helping MSME exporters and ease of investment flow into manufacturing sector.

“The main areas of discussion included regulatory environment impacting private investment, measures for promotion of exports amidst rising protectionist tendencies, industrial production, logistics, among others,” an official statement said. — PTI