India Inc optimistic about rise in exports

New Delhi, Nov 7:  Assurance, tax and advisory firm Grant Thornton’s business confidence report has revealed that policy reforms and the upcoming implementation of the Goods and Services Tax (GST) has buoyed India Inc’s hopes of a rise in exports during the coming quarters. According to the latest Grant Thornton Intertiol Business Report survey, 38 per cent respondents said they expect an increase in exports.

The result shows a three point jump than the previous quarter, when 35 per cent voted for an increase in exports during Q2 2016. Only 13 per cent of the surveyed had positively responded to the expectations of a rise in exports during Q1 2016.

“Ongoing policy reforms measures and the upcoming implementation of GST, coupled with the stability in Indian currency and its competitiveness, has led to an increase in optimism over rise in exports in the coming quarters,” Harish HV, Partner - India Leadership team, Grant Thornton India LLP, told IANS. “GST is expected to have a positive impact as it will reduce the cost of logistics and hasten-up the movement of cargo. On the global front, the rise in manufacturing cost in Chi is also expected to lead to a cost advantage for Indian exports.” (ians)