New Delhi, Nov. 6 -- The Federation of Indian Export Organisations (FIEO) has welcomed the decision taken by the Government on the Regional Comprehensive Economic Partnership (RCEP) in national interest.
''A vibrant manufacturing holds the key to exports. Duty free imports from China, which has an economy of scale, and sitting on huge inventory and capacity could have jolted the manufacturing beyond recovery and thus crippling exports,'' said FIEO President Sharad Kumar Saraf.
However, Saraf pleaded to make manufacturing competitive by reducing the cost of credit, bringing down logistics cost, rebating all state taxes and levies and addressing inverted duty structure. He suggested that the share of manufacturing in GDP should go up by 1...