November 24, 2021

How to reach $ 400 billion in exports

  1. Measures such as the opening of e-tourism visas and the resumption of normal international flight operations were at the top of the list.
  2. It was also requested that the program of export of services from India continue for the next 5 years and be included in the RoDTEP program in the foreign trade policy.
  3. The scheme aims to reimburse exporters for the duties, taxes and levies they have paid at central, state and local levels.

Representing the tourism industry, Rajiv Mehra, President of the Indian Association of Tour Operators (IATO), suggested measures such as opening e-tourism visas, resuming normal international flight operations, etc. India Scheme) for the 2019-20 fiscal year is vital for their survival.

Mr. Mehra further requested that the service export program from India continue for the next 5 years and be included in the RoDTEP program in the foreign trade policy being developed for 2021-2026. The scheme aims to reimburse exporters for the duties, taxes and levies paid by them at central, state and local levels, and it covers about two-thirds, 65% of the country’s exports.

The OPCW President also told the Minister that the tourism industry is a major source of foreign exchange and as such should be granted deemed exporter status along with export earnings. Services. Such an approach could improve their competitiveness vis-à-vis other neighboring countries and thus stimulate the arrivals of foreign tourists, he argued.

In addition, the Union Minister of Trade and Industry has been requested to implement the Integrated Goods and Services Tax (IGST) Act in which tourists leaving India are entitled to a refund of IGST paid in India on goods taken out of India. as part of a tourist tax refund scheme (TRT).

Said Mr. Mehra, “According to [the] On a larger scale, India has enormous tourism potential, but to achieve this we need government support in terms of financial incentives as well as improved physical infrastructure. With governments focusing on improving India’s attractiveness, I’m sure we’ll see [a] boom like we’ve never seen before.

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