Govt sets up task force for combating administrative delays in exports

New Delhi, May 30 (KNN) The government has set up a second task force to identify reasons for high transaction costs which are making things difficult for India exports in a highly competitive global market.

The group formed by the Commerce Ministry has been asked to identify areas where Indian exporters face administrative impediments that lead to increase in transaction costs.

The group will submit its report to the government next month.

Export performance for the year 2012-13 on an annual basis declined to 1.76 per cent to USD 300.6 billion in 2012-13.

As per estimates, the share of MSME exports has fallen from 40 per cent to 36 per cent of the country’s total exports.

MSME contributes 36 per cent to exports and employs eight crore people.  (KNN)