The Hindu : Business : `New policy will provide impetus to exports'

Online edition of India's National Newspaper
Saturday, Apr 08, 2006

Business

Business

`New policy will provide impetus to exports'

Staff Correspondent

CHENNAI: The Focus Product and Focus Market schemes announced by the Union Minister for Commerce and Industry, Kamal Nath, would definitely impart a strong impetus to the growth of exports, said A. Sakthivel, Chairman, Federation of Indian Export Organisations (FIEO), Southern Region.

The initiatives taken for promoting employment generation specially in semi-urban and rural areas, `sops' provided for the `served from India scheme', facilities provided to make India a hub for gem and jewellery, expanded list of inputs for duty free entitlement for the marine sector and flexibility provided in the EPCG scheme, Mr. Sakthivel said, would contribute to creation of more employment opportunities.

The President of the Andhra Chamber of Commerce, Sailesh R. Mehta, said allowing import of new vehicles for R&D purposes would help the auto component industry access to latest technologies from around the globe.

The introduction of a duty-free import authorisation scheme would help manufacturers and exporters in a large measure. Allowing the disposal of left over material on the basis of previous year's imports would give a boost to EOUs.

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