The Hindu Business Line : Measures will help boost exports, says India Inc

INDIA Inc has welcomed the steps undertaken in the supplement to the Foreign Trade Policy announced on Friday and said that the measures would help in boosting Indian exports.

The Confederation of Indian Industry (CII) said that today's announcements would strengthen the main thrust of the trade policy of bringing in a much larger cross-section of the population into the export arena.

According to Mr Y.C. Deveshwar, President (designate), CII, the renewed emphasis on providing a boost to traditional and sunrise sectors, including agriculture, retail, SMEs, marine products, poultry, dairy and handloom industry, for facilitating low-cost import of capital goods would enhance export competitiveness in these sectors, which are also employment-intensive.

The President of Federation of Indian Chambers of Commerce and Industry (FICCI), Mr Onkar S. Kanwar, described the policy as "a stupendous effort" at tackling the ground level problems of exporters head on. Mr Kanwar congratulated the Commerce Minister for extending the DEFB scheme until a new scheme is put in place.

Mr Mahendra K. Sanghi, President of Associated Chambers of Commerce and Industry (Assocham), welcomed the "employment-friendly, WTO-compatible foreign trade policy, which rightly focuses on agri-exports and is potentially well-equipped for removing procedural irritants that were coming in the way of quantum jump of Indian exports."

Mr A. Sakthivel, Chairman, Apparel Export Promotion Council, said that apparel exports are likely to rise by 68 per cent in the current fiscal, and the industry may even surpass this growth provided Central/State levies are refunded to the exporters in the form of duty drawback, the payment of service tax is exempted, engagement of contract labour is allowed and exporters are allowed to import freely for export production. However, the association expressed disappointment at the textile sector being neglected in the policy.

Meanwhile, Mr K.N. Memani, President , PHD Chamber of Commerce and Industry (PHDCCI), said the Government has done a commendable job by fulfilling its last year's promise of making the policy dynamic and continually evolving. "The changes brought about in the policy and procedures have translated into reality the partnership approach between the industry and the Government for doubling India's merchandise exports in the next five years," Mr Memani said.

Mr Nalin Kohli, Chairman, Electronics and Computer Software Export Promotion Council (ESC), said the measures announced in the policy could help achieve the exports target of $150 billion by 2009.

Welcoming the policy, Mr Sharad Jaipuria, Chairman, Export Promotion Council for EOUs and SEZ units (EPCES), stressed that for providing stability to the SEZ scheme, it is absolutely imperative that the SEZ Act is enacted at the earliest.

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