THE abnormal surge in India's exports to some of the tax havens like Cyprus and Bahamas has invited the attention of some of the revenue intelligence agencies.

Given the fact that the North Block is seized of the black money issue, and the Govt has initiated several DTAA and TIEAs' related steps to gather banking information to track down illicit flow of funds to tax havens, the recent revelation that tax havens have contributed significantly to India's high exports growth trajectory, has come as a major shock for the policy makers.

It is learnt that the Revenue topbrass has asked the DRI and Enforcement Directorate to look into the aspect of bogus exports and also re-routing of exports consignments through tax havens to some other destinations. It is also suspected that money laundering could be the key intent behind such exports.