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Transaction costs for exporters arose out of stringent rules and regulations, complex administrative processes, infrastructural deficiencies etc. An analysis carried out by the Federation of Indian Export Organisations reveals that cost disabilities including transaction costs suffered by Indian Exporters vary from ranging from 19-22 percent. The transaction cost prevailing in other countries is not known. As per DGCI&S data there has been an increase in exports by 27.03 % for April, 2004 to February, 2005 over April 2003- February, 2004. This was informed by the Union Minister of State for Commerce and Industry Shri EVKS Elangovan in a written reply to the Lok Sabha here today.
He also informed the House that doubling India’s share of World Trade in the next 5 years would generate more local employment opportunities due to increased production and exports. Both the government and private sector were actively involved in imparting training to augment specialized human resources for exports, he added.
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