Budget 2023: Exporters urge govt for fiscal incentives, lower customs duty

The meeting took place at a time when external demand is waning as exporters are facing global headwinds of high inflation, currency depreciation and geopolitical tensions

A little over two months before the 2023-24 Union Budget, exporters on Thursday urged the government to provide fiscal incentives, reduce customs duty on certain products, and sought support to boost export competitiveness.

In a virtual pre-Budget meeting with the Finance Minister Nirmala Sitharaman, along with top officials from the finance ministry, exporters sought certain tax benefits such as 200 per cent tax deduction on the expenditure made by exporters for overseas marketing, and extension of tax incentives for the private sector to set up a global Indian shipping line to tap the market.

“We will urge the government to