Industry & Economy
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Exports & Imports
FIEO concerned over delay in notifying export schemes
Our Bureau
New Delhi
,
Oct. 8
THE Federation of Indian Export Organisations (FIEO) has expressed concern over the delay on the part of the Finance Ministry in operationalising the various facilities announced in the Foreign Trade Policy 2004-09.
In a statement, the FIEO President, Mr Rafeeque Ahmed, said that the delay in issuance of notifications create uncertainty in the minds of exporters, which does not augur well for exports.
As the policy announcements were made after detailed deliberations with the Finance Ministry, Mr Ahmed held that there was no reason as to why the notifications should be delayed.
According to FIEO, the notification extending zero duty facility under Export Promotion Capital Goods (EPCG) scheme to agriculture sector, notification relating to Vishesh Krishi Upaj Yojana and bank guarantee exemption to units in agri-export zones has not been issued.
Further, the federation has also highlighted that the notification for the new target-plus scheme has not been issued. Mr Ahmed held that "if the Government wants India to develop as a trading hub, it is imperative that the relevant notification relating to free trade and warehousing zones may be issued by the Revenue Department immediately as these zones would take their own time to be set up."
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