The Hindu Business Line : ‘Include Ukraine, Russia, Brazil in focus market scheme’

Hyderabad, May 9 The Pharmaceuticals Export Promotion Council has asked the Director General of Foreign Trade (DGFT), which works under the Union Ministry of Commerce and Industry, to include countries such as Ukraine, Russia, Brazil and Nigeria in the ‘Focus Market Scheme’.

Stating that in these countries huge potential for the Indian pharma industry exists, the council felt that the inclusion of these countries in the scheme would encourage the pharma exporters to tap this opportunity.

In an ‘Open House’ organised with Mr R.S. Gujral, DGFT, the exporters also wanted the Government to relax export obligation for the current financial year by 10 per cent to compensate for the appreciation of the rupee.

“While this would be an immediate requirement, measures may be taken to provide a long-term relief to the exporters considering that some of them are losing export orders on account of rupee appreciation,” they said.

Rupee had appreciated about 13 per cent since January 2007 and now it was sub-Rs 40 level for the last few weeks.

Exporters from other sectors too, alleged that there have been abnormal delays in fixation of ad hoc norms for new export products, harming their interests.

Ad hoc norms

They suggested that the Advance Licensing Committee fix the ad hoc norms within six months from the date of issue of licences.

There were as many as 12,000 ad hoc norms.

Responding to their pleas, Mr Gujral had said that the department had been contemplating to notify the ad hoc rules online.

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