The Hindu Business Line : Thrust on farm products welcomed

Coimbatore April 20 The Confederation of Indian Industry (CII), Coimbatore Zone, has welcomed the thrust on hi-tech exports and agricultural products in the Annual Supplement to the Foreign Trade Policy announced by the Union Commerce and Industry Minister, Mr Kamal Nath.

It expressed the hope that some of the issues left untouched which have a cost implication would be addressed when the Government comes out with a new scheme in place of Duty Entitlement Passbook Scheme (DEPB).

In a press statement, Mr K. Thangaraj, Chairman, CII, Coimbatore Zone, said several measures announced in the new policy to give a push to agricultural product exports were important to `promote inclusive growth through exports'.

Service tax

He also was happy that the Government had conceded the demand of exporters to exempt from service tax services rendered abroad and charged on exports from India.

However, there were some extra costs that were still un-rebated such as CST, FBT and Octroi and hoped that these costs would be factored in when the government formulates a new scheme in place of DEPB.

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