Trade Community Eyes Growth-Focused Interim Budget: CAIT

ENA Economy 2024-01-30 18:27:34 New Delhi, Jan 30 (KNN) The Confederation of All India Traders (CAIT) highlighted that the trading community across the country is eagerly anticipating a growth-focused interim budget, in a press release on Tuesday. In a release titled Bridging Aspirations of Trade with Interim Budget Realities, Praveen Khandelwal, Secretary General, CAIT, said that one significant expectation revolves around fiscal policies that stimulate economic growth, potentially through tax reforms or incentives for businesses. The budget's focus on addressing immediate concerns while emphasising sustainable growth, international competitiveness, and technological integration demonstrates a comprehensive perspective in navigating the complexities of the current economic landscape, Khandelwal told KNN exclusively. He suggested that this approach indicates an intention to foster a thriving business ecosystem beyond short-term fixes, aiming for long-term success and resilience. Traders are hopeful for measures that enhance consumer spending, creating a conducive environment for increased trade activities, Khandelwal added. Infrastructure development takes centre stage, with Khandelwal highlighting its direct impact on logistics and supply chains. The trading community is looking forward to allocations for infrastructure projects that can streamline transportation, reduce costs, and improve overall trade efficiency, he noted. Acknowledging the global economic landscape, CAIT has stressed the need for policies that strengthen India's position in international trade. Trade-friendly policies, diplomatic efforts to address trade barriers, and strategic initiatives to tap into emerging markets are deemed crucial. There is a keen anticipation for clarity on e-commerce regulations and digital trade policies. As online platforms become increasingly vital in trade, the trading community seeks a regulatory framework that balances growth opportunities with fair competition, according to CAITs Secretary General. Highlighting the indispensable role of technology in trade, Khandelwal expressed hope for initiatives promoting digital infrastructure, e-governance, and digital literacy. Technology integration can streamline trade processes, reduce paperwork, and enhance overall ease of doing business. In summary, the trading community expects the interim budget to take a holistic approach, addressing not only immediate concerns but also emphasising sustainable growth, international competitiveness, and the leveraging of technology to propel the trading ecosystem forward. (KNN Bureau) 36484 https://knnindia.co.in/news/newsdetails/economy/trade-community-eyes-growth-focused-interim-budget-cait 2024-01-30 18:27:34 knnindia.co.in Trade Community Eyes Growth-Focused Interim Budget: CAIT