Apex exporters' body Federation of Indian Export Organisations (FIEO) hails Budget - 2014 and said that steps taken by the Finance Minister will benefit the export sectors.

"Finance Minister has laid down a road map for inclusive growth, sustainable manufacturing and competitive exports. Clear policy against retrospective amendment, e biz single platform for services provided by the government, advance ruling facility to private limited companies will add to the ease of doing business," M Rafeeque Ahmed, President FIEO in a press statement on Thursday.

He said that the focus on roads, airports, sea ports, power would usher in an era of internationally bench marked facilities at competitive rates. Once implemented, the infrastructure improvement would significantly compress the delivery schedule of exports.

Ahmed said that engagement of States in exports is a long due step as all factors of productions are within the ambit of State. Active dialogue with States will also help in removing their apprehension that exports is a drain on their exchequer.

President, FIEO said that Export Promotion Mission is a novel concept and bringing all stakeholders under one umbrella will provide an effective resolution to the issues within minimum time frame. He suggested consultations with export bodies before giving a final shape to the Mission.

Extension of 24x7 Customs Clearance Facility to 13 new ports in respect of all export goods and 14 more sea ports both for imports and exports coupled with implementation of single window concept for exim trade with Customs as the hub would significantly reduce the transaction time and cost. However, he urged that the regulatory agencies involved in exports-imports should reduce physical examination percentage significantly so that the real benefit percolates to exim industry.

The increase in Duty Free Entitlements of trimming and embellishments for the readymade garment sector, exemption from basic customs duty on pre-forms of precious and semi-precious stones, reduction in basic customs duty on ethane, propane, ethylene, propylene, will benefit apparel, gems & jewellery and chemical sectors respectively, added FIEO Chief.

Establishment of Trade Facilitation Centre and a Crafts Museum to develop and promote handloom products at Varanasi ; six Textile mega-clusters at Bareily, Lucknow, Surat, Kuttch, Bhagalpur and Mysore ; revision of threshold limit of MSME, venture capital fund of Rs 10,000 Cr for the start-ups will also benefit the export sectors in view of important contribution of these segment in exports.

Revival of the Special Economic Scheme and effective use of the available unutilised land coupled with development of SEZ in Kandla and JNPT will gradually bring investors back to the SEZ Scheme. However, reduction in DDT and MAT, if not abolition, would have immediate impact on the fortune of the Scheme, added Ahmed.