The Hindu Business Line : Industry welcomes supplement to trade policy

Trade and industry here have welcomed the `Annual Supplement 2006' to the Foreign Trade Policy 2004-09, unveiled by the Union Minister for Commerce and Industry, Mr Kamal Nath.

In a statement, the President of the Tamil Nadu Chamber of Commerce and Industry, Mr S. Rethinavelu, said the supplement would go a long way in a accelerating the export growth to garner a two per cent share in global exports and generate abundant additional employment opportunities. The introduction of two new WTO compatible-schemes — Focus Products Scheme and Focus Market Scheme — is an innovative strategy to promote specific products and overseas export markets focussing on employment in semi-urban and rural areas. The specific thrusts given for jewellery and auto parts would make India emerge as a global hub for those products, he added.

Madtissia hails measures

The President of Madurai District Tiny and Small Scale Industries Association, Mr S. Aravind, in a statement, welcomed the measures to cut down the transaction cost and time for exporters and importers through new electronic data interchange (EDI) initiatives and allowing the pre-shipment certificates in lieu of test report for faster clearance.

The decision to offer the facility to import the required inputs before exports and the ability to transfer of scrip once the export obligation is over provided the right flexibility to the exporters. Apart from various fiscal sops announced, the Government should concentrate on creating facility to the exporters in infrastructure, competitiveness, quality and marketing, he added.

More Stories on : Foreign Trade | Industry Associations | Tamil Nadu

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