FIEO urges govt to announce measures to boost country’s outbound shipments

Federation of Indian Export Organisations, FIEO today urged the government to announce various measures such as employment-linked income tax benefits and set up a fund for marketing purposes to boost the country’s outbound shipments in the upcoming Budget.

FIEO also demanded tax deduction on Research and Development investments, cut in corporate tax, reducing customs duty on capital goods which are not produced in the country, and higher budgetary allocations for the Department of Commerce.  

In a statement, the Federation said, it has urged the government to provide income tax relief to units which provide additional employment in export sector. It said that incentives should also be provided based on twin criteria of incremental growth in exports and workers. The country’s exports grew by 9 per cent to 331 billion US Dollars in 2018-19.