EEPC places demands before Ministry of Finance to help SME engineering exporters

Aman Chadha,
Chairman, Engineering Export Promotion Council of India

“The Engineering Export Promotion Council of India (EEPC) has seen a considerable plunge in the engineering export figures over the last year. Among the suggestions put forward to rectify this is a tax exemption on incremental exports for three years. We have also asked for a weighted deduction of 1.5 times on the expenses incurred for overseas establishments and R&D for three years. Apart from this, we have requested a hike in the import duty for capital goods, an increase in the rate of depreciation on plant and machinery from 15% to 25% and a simplified tax procedure.”