Budget provides strong systemic support to export ecosystem: Commerce Secy

The Budget for 2026-27 has announced a series of measures and provides strong systemic support to the exporting ecosystem by focusing on areas such as manufacturing and trade facilitation, Commerce Secretary Rajesh Agrawal said on Sunday. Finance Minister Nirmala Sitharaman on Sunday proposed duty-free imports of certain specified inputs for promoting the countrys exports of leather.

The Budget for 2026-27 has announced a series of measures and provides strong systemic support to the exporting ecosystem by focusing on areas such as manufacturing and trade facilitation, Commerce Secretary Rajesh Agrawal said on Sunday. He said that there are measures for labour-intensive as well as high-tech sectors. The focus on logistics and trade facilitation help cut compliance burden and improve India's share in global trade, Agrawal said. ''It is an excellent Budget which provides a strong systemic support to the trade ecosystem by focusing on manufacturing, trade facilitation, by focusing on new areas. It will all help in trade diversification also,'' Agrawal told PTI. Announcements with regard to electronics, IT, pharma, marine, leather, textiles and semi-conductor will further give a boost to the country's exports, he said. Finance Minister Nirmala Sitharaman on Sunday proposed duty-free imports of certain specified inputs for promoting the country's exports of leather. The move will help provide cushion to leather exporters who are reeling under the steep 50 per cent US tariffs. The country's leather and leather products shipments dipped marginally 0.23 per cent to USD 3.3 billion during April-December 2025-26. ''I propose to increase the limit for duty-free imports of specified inputs used for processing seafood products for export, from the current 1 per cent to 3 per cent of the FOB (free on board) value of the previous year's export turnover,'' Finance Minister Nirmala Sitharaman said in her Budget speech. The Budget has also accepted a demand of the commerce ministry with regard to the leather segment. ''I also propose to allow duty-free imports of specified inputs, which is currently available for exports of leather or synthetic footwear, to exports of Shoe Uppers as well,'' she said. Agrawal said this will help cut compliance burden for exporters of these sectors.

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