Saturday, Nov 08, 2003
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By Our Special Correspondent
Speaking at the export awards function of the Chemicals and Allied Products Export Promotion Council (CAPEXIL), he said this would serve as a significant incentive to attain a quantum jump in exports over a period. He said the Government was fully conscious of the fact that unless a level playing field was provided for exporters vis-a-vis competitors abroad, the competitiveness of India's exports in the international market would be affected. "You have to compete with exporters who have liberal labour and fiscal regimes. You can compete only if the playing field is the same,'' he told exporters at the function. Describing the current fiscal — 2003-04 — as a challenging year for exports, he commended exporters for their entrepreneurship and enterprise. He noted that despite hardening of the rupee against the U.S. dollar and adverse external factors including slowdown in some of the world's major economies, India's exports had managed to sustain a double digit growth till now. He said the Government was keeping a close watch on the trends as the rupee appreciation had affected export competitiveness. He also underlined the vital role played by exports in the country's economy as a source of employment and revenue generation. Mr. Jaitley presented the top export award to MMTC Chairman, S. D. Kapoor. MMTC exported iron ore, chrome ore, manganese ore and other products worth Rs. 1,281.45 crores to countries such as China, Korea and Pakistan. National Aluminium Company Limited (Nalco) won the highest export award in the mineral and ore sector for 2002-03. For the non-mineral sector, the highest export award was presented to J K Industries. The Capexil Chairman, M. F. Vohra, said exports under the council grew by an impressive 17.7 per cent, recording an export of $3.89 billion in 2002-03. In the first quarter of the current fiscal they grew by 18.76 per cent. In 2003-04, exports under Capexil were pegged to grow to $4.34 billion with a targeted growth of over 11 per cent. He cited inadequacies of infrastructure, high transaction cost and incidence of local taxes and levies on export as some of the problem areas.
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