Poor infrastructure and complex procedures are major obstacles in pushing up the growth rate of exports, a survey by PHD Chamber of Commerce and Industry (PHDCCI) has said.
Poor infrastructure and complex procedures are major obstacles in pushing up the growth rate of exports, a survey by PHD Chamber of Commerce and Industry (PHDCCI) has said.
The survey of 124 small, medium and large exporting enterprises said that current adverse market conditions, the cumbersome and cascading tax regime are also acting as major impediments to exports' growth.
Majority of respondents termed poor infrastructure and complex procedures as lead cause of falling exports, the survey said.
Current adverse market conditions, operational issues ... inadequate infrastructure, complex procedures and cascading tax regime are hurting export performance,” it said.
After declining for two consecutive months, exports grew by 11.64 per cent to $25.83 billion in July.
The survey said that prevalent operational issues in foreign markets are preventing Indian firms in expanding their export activities.
“High cost of procuring raw materials and movement of goods within the country are also restricting export performance,” it said adding exporters face problem in understanding the export payment procedures.
Besides, inadequate essential market information including export assistance available to exporters is also impacting exports growth, it added.
“Complex foreign market regulations and restrictive policies of foreign countries were also named among the important bottlenecks,” it said adding time and paperwork required to comply with foreign market regulations is another most cited obstacle.
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