What steps is the Indian government taking to promote export-friendliness and ease regulatory burdens, as mentioned by Sitharaman
Finance Minister Sitharaman's statement on the government's efforts to make India export-friendly.
Finance Minister Sitharaman stated that the Indian government is taking steps to promote export-friendliness and ease regulatory burdens through various initiatives:
- Introduction of the NIRVIK scheme to enhance loan availability and reduce premium for exporters
- Establishment of a One-Time Settlement scheme for quicker dispute resolution
- Integration of Goods and Services Tax (GST) and Customs software for easier compliance
- Improvement of infrastructure at ports and airports to facilitate faster clearance of goods
- Reduction in compliance burden through digitalization and simplification of procedures
- Focus on promoting key sectors like textiles, pharmaceuticals, and electronics for export growth