FIEO urges govt to extend incentives to R&D services sector to boost exports

Apex exporters body FIEO has urged the government to provide incentives and the right infrastructure to the R&D services sector to boost its exports.

Federation of Indian Export Organisations (FIEO) President Sharad Kumar Saraf also appealed to states to come forward and support this specialised sector as it holds huge opportunities for exports.

''Saraf requested the government to incentivise the R&D services exports through schemes like SEIS (services exports from India scheme), enable the right infrastructure and ecosystem in the country, provide right regulatory regime, streamline taxation, to provide encouragement and ensure growth of the sector and also provide a level playing field in the international market,'' FIEO said in a statement on Wednesday.

He added that R&D is extremely important to change the profile of India's exports to put more focus on high technology outbound shipments.

Saraf said this at the first roundtable on the 'Promotion of R&D Services Exports from the country'.

Speaking at the function, Prof K VijayRaghavan, Principal Scientific Adviser to the Government of India, said R&D exports are more relevant than ever.

He added that the attention of policymakers so far has been on high-tech merchandise exports as a country's engagement in high technology exports reflects the sophistication of its economy, level of productivity and future capabilities.