The ministry has already compiled data on different taxes at the state and local body level and sought views of the various export promotion councils, an official of an apex export association said.
While the formulation is being worked out by the Commerce Ministry, the industry and export community is also in touch with senior functionaries in the Finance Ministry.

According to sources, Chemicals & Allied Products Export Promotion Council Chairman S K Ghosh has met advisor to Finance Minister, Parthasarthi Shome.

Lobbying on
Mr Ghosh has pointed out “the maximum impact is being felt by small units, which are not able to protect their interest by hedging the currency risk.”

“After factoring in the rupee impact, we have kept a conservative target of doubling chemical products exports only in next 10 years to about $20 billion.”

Various exporters’ bodies have started lobbying both with commerce and finance ministries in the face of many proposals getting stuck at the North Block even as they are mooted by Commerce Ministry. Mr Kamal Nath, who is on a tour to the US, had said on Monday, that the government would not intervene in the rupee movement.

“China calibrates exchange rates, but we’ve left it to be market determined. I really don’t think government should be intervening... we did away with (this practice) as part of reforms. I know the industry will be pained, but it needs to look for increasing efficiency and cost effectiveness,” he said. Rupee, which has risen by over 8 per cent in last six months, has had a major impact on performance of exports, which had grown by about 24 per cent in 2006-07.