Medium term export strategy by next month

NEW DELHI, AUG. 15. The medium term export strategy being finalised by the Government will focus on increasing market access through development of new markets and new products and is likely to be announced by September.

"The first draft of the strategy is ready. It is likely to be announced by September. It will focus on increasing market access for Indian products after looking at the comparative advantage of Indian goods in specific countries," official sources said here.

The Union Commerce Ministry has sought inputs from the various export promotion councils to identify markets where Indian products have an advantage.

Sources said the results of the country-specific studies being initiated by the Commerce Ministry would also be incorporated in the medium term export strategy.

The strategy which would be primarily targeted at tackling the dip in exports due to the U.S. economic slowdown would run concurrent with the five year Exim policy that will be announced next year, they said. Sources said that the next five year Exim policy would emphasise on measures to improve the competitiveness of the Indian industry.

"The Exim policy will focus on measures to remove more restrictions and streamline the present taxes and duties to reduce input cost and duty burden for the domestic industry," they said.

Sources said the initiatives announced in this year's Exim policy including the Market Access Initiative (MAI) as well as the setting up of agri export zones were likely to take off soon.

"We have already finalised the rules and regulations for the MAI and are awaiting proposals. Even in the case of agri export zones, Agricultural and Processed Food Products Export Development Authority (APEDA) is examining the proposals from the various State governments," they said adding that the proposal has elicited good response from States.

The resources for setting up of the agri export zones would be obtained from the various existing schemes with the State governments.

The Government has also released Rs. 100 crores in this year's budget for export promotion activities to be undertaken by the States which will be increased to Rs. 400 crores from next year onwards, they added.

- PTI

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