Business Daily from THE HINDU group of publications
Monday, Apr 14, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Monday, Apr 14, 2008 ePaper | Mobile/PDA Version |
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Industry & Economy
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Industry Associations States - Tamil Nadu Chambers welcome trade policy Our Bureau Chennai, April 13 Industry chambers and trade bodies have welcomed the annual supplement to the foreign trade policy. The Federation of Indian Chambers of Commerce and Industry - Tamil Nadu Council has described the trade policy as a pro-export and employment generating policy. The release quoting its Chairman, Mr Rafeeque Ahmed, welcomed the extension of the DEPB (duty entitlement passbook) scheme up to May 2009 and the extension of IT benefits for export-oriented units. The Federation of Indian Export Organisations - Southern Region, has thanked the Commerce Ministry for continuing the interest subvention given to select exporters, including garment sector, for one more year. The extension of the DEPB scheme and the income tax exemption to export-oriented units till March 2010 from March 31, 2009 will help exporters work out the appropriate cost structure. The reduction of customs duty on capital goods and equipment under the EPCG scheme to 3 per cent from 5 per cent and lowering of the export obligation under the scheme for 2007-08 for sectors that have shown an export decline of more than five per cent during 2007-08 are welcome measures, the FIEO said. The Andhra Chamber of Commerce welcomed the proposal to extend the DEPB scheme, incentives and rewards for meeting export obligations under EPCG, and the income tax benefits for export oriented units. More Stories on : Industry Associations | Exim Policy | Tamil Nadu
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