Restoring health of every constituent sector is a must for long-term growth in exportsIndia’s merchandise exports reached an all-time quarterly high of $95 billion in the three months ended June, providing welcome cheer on the economic front. Exports last month surged 47% from June 2020 to $32.5 billion. With the Government dragging its feet on notifying the rates applicable under the Remission of Duties and Taxes on Export Products (RoDTEP) scheme, exporters are still unsure of how to price their products while bidding for orders. A container shortage and heightened congestion have also sent freight rates out of Indian ports soaring. Policymakers need to look beyond headline numbers and expedite action to restore the health of every constituent sector if economically enduring long-term growth in exports is to be ensured.

Source: The Hindu July 04, 2021 18:22 UTC