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Tuesday, November 05, 2019

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FIEO welcomes the decision taken by the Government on RCEP in national interest

FIEO welcomes the decision taken by the Government on RCEP in national interest: Sharad Kumar Saraf, President, FIEO

FIEO welcomes the decision taken by the Government on the RCEP in national interest.

 Mr Sharad Kumar Saraf, President, FIEO said that a vibrant manufacturing holds the key to exports. 

Duty free imports from China, which has economy of scale, and sitting on huge inventory and capacity could have jolted the manufacturing beyond recovery and thus crippling exports. 
Mr Sharad Kumar Saraf,
President, FIEO

However, Mr Saraf pleaded to make manufacturing competitive by reducing the cost of credit, bringing down logistics cost, rebating all state taxes and levies and addressing inverted duty structure. 

He suggested that the share of manufacturing in GDP should go up by 1% every year so that we increase its share to 25% in the next 10 years.

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