Exporters send an SOS after Budget jolt

India’s exporters have red-flagged proposals in the Budget that aim to disallow IGST refunds for exports and empower customs officials to confiscate goods for making a ‘wrongful claim’, warning that these changes will severely hurt exports and could impact India’s image as a reliable global supplier.
Asserting that exporters were flush with orders and in a position to deliver high growth provided working conditions were easier, the Federation of Indian Export Organisations (FIEO) said the Budget’s proposals had come on the back of other policy ‘missteps’ that were taking the system towards ‘Inspector Raj’.