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Our Correspondent

Madurai , April 12

TRADE and industry circles here have welcomed the annual supplement to the Foreign Trade Policy for the current fiscal year announced by the Union Minister for Commerce and Industry, Mr Kamal Nath.

The President of the Tamil Nadu Chamber of Commerce and Industry, Mr S. Rethinavelu, in a statement, said the announcement has provided for l pragmatic changes and simplified export formalities to establish a hassle-free, transparent and enabling environment for export promotion.

Mr Rethinavelu has pointed out the extension of 5 per cent concessional duty benefits under the export promotion capital goods (EPCG) scheme would facilitate the setting up of ultra-modern international standard shopping malls.

The President of the Madurai District Tiny and Small Scale Industries Association, Mr S. Aravind, has said the emphasis on low cost of capital goods for agriculture, retail, SMEs, marine products etc will raise export competitiveness.

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