Online edition of India's National Newspaper
Sunday, Oct 09, 2005
Google



Tamil Nadu
News: Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Business | Sport | Miscellaneous | Engagements |
Advts:
Classifieds | Employment | Obituary |

Tamil Nadu - Chennai Printer Friendly Page   Send this Article to a Friend

Go for new products, markets, Chidambaram urges exporters

Special correspondent

CAPEXIL awards presented to companies for their performance "Levying of taxes justified as they are necessary for infrastructure development"

CHENNAI: Union Finance Minister P. Chidambaram on Saturday urged exporters to be "aggressive players" and go for new products, value addition and new markets.

Participating in the export award distribution function of CAPEXIL (formerly known as Chemicals and Allied Products Export Promotion Council) here on Saturday, Mr. Chidambaram said this alone will boost India's share in international trade.

The Government, he claimed, provided an ideal environment for exports, which resulted in substantial increase in exports and, in turn, fall in trade deficit. But the exporters should be aware of the fact that China had trade surplus and India should aim for it.

Good wicket

Comparing the economic condition to a good wicket, he said the government had prepared a good wicket. But this by itself would not bring victory. There should be good players, and in this case the players were the exporters.

He justified levying of taxes stating that they were necessary for infrastructure development such as building roads, increasing the capacity of ports, improving the connectivity of telephones and Internet. Taxes were part of life and business. They could not be done away with. Some taxes had to be paid and one should not be obsessed with taxes.

The Union Minister of State for Commerce, E.V.K.S. Elangovan, said the Government was gearing its machinery such as export promotion councils, Indian embassies, overseas and Indian trade bodies to organise a series of export promotion events. He was confident that concerted efforts on the part of the Government and exporters would yield better results. The United States had taken a decision to restore the benefits of the generalised system of preferences for certain Indian export products, which had been withdrawn in 1992. This decision would give a fillip to bilateral trade and investments, he added.

The chairman of CAPXEIL, A.M.S.G. Ashokan, called for service tax exemption, VAT and fringe benefit tax exemption for export activities.

The Union Finance Minister distributed CAPEXIL's highest awards to two firms, top awards to 16, special awards to 83 and 129 certificates of merit for their export performances.

Printer friendly page  
Send this article to Friends by E-Mail



Tamil Nadu

News: Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Business | Sport | Miscellaneous | Engagements |
Advts:
Classifieds | Employment | Obituary | Updates: Breaking News |

Sivananda Orphanage


News Update


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu