Economy

Steps to boost exports soon: Ministry

Our Bureau Chennai | Updated on November 20, 2017 Published on March 22, 2013

The Government will soon firm up reforms that address the concerns of exporters, said a senior official from the Ministry of Commerce.

Madhusudan Prasad, Additional Secretary, Ministry of Commerce, said the Ministry had, in 2011, held meetings with stakeholders from special economic zones (SEZ) and export-oriented units (EOU) across the country to understand the various issues faced by exporters.

“Based on their suggestions, the Ministry has prepared a comprehensive paper which is under active consideration by the Government. Some of the major recommendations will be finalised soon. We will revamp SEZ and EOU schemes. We are fully committed to supporting exports,” said Prasad, at an export excellence awards function organised by the Madras Export Processing Zone (MEPZ).

He, however, did not elaborate on the plans.

The country must boost exports to sustain the growth momentum in the economy, said Prasad.

This will bring down the current account deficit which is of great concern today, he said.

“While exports are growing in India, the pace is lower than the growth in imports, mainly due to large oil import, leading to a deficit in the trade balance.”

MEPZ exports up

A.K. Bamba, Development Commissioner, MEPZ, said despite the economic slowdown, exports from MEPZ have grown 65 per cent.

Special economic zones in Tamil Nadu had clocked an export turnover of Rs 50,115 crore in 2011-12.

The units in the MEPZ region alone registered Rs 10,688 crore.

>swetha.kannan@thehindu.co.in

Published on March 22, 2013
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