PTI New Delhi

The government has set up a committee to examine the tax and export clearance issues being faced by manufacturing units and suggest measures to further streamline the system amid high tariffs imposed by the US, an official has said.

The committee includes representatives from the finance ministry, Department for Promotion of Industry and Internal Trade (DPIIT), Department of Commerce, Directorate General of Foreign Trade (DGFT), and the RBI. It also has special invitees from industry chambers, Federation of Indian Export Organisations, export promotion councils, and consultancy firms.

The official said the committee will examine the existing export-related tax structures (both customs duties and export incentives) and export clearance procedures to identify their impact on the manufacturing sectors' competitiveness and export performance, and suggest refinements or alternatives, if needed.

Besides, it would identify sector-specific challenges in high-potential export sectors, such as engineering, pharmaceuticals, electronics, chemicals, agro and processed food, textiles, leather, gems and jewellery. It would also study and recommend global best practices in export taxation and customs facilitation, and propose actionable policy reforms to streamline processes.