The Hindu : Maran to unveil new exim policy on March 31

Online edition of India's National Newspaper
Monday, Mar 18, 2002

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Maran to unveil new exim policy on March 31

By Our Special Correspondent

NEW DELHI MARCH 17. The Commerce and Industry Minister, Murasoli Maran, on Saturday expressed confidence that the country would be able to achieve an annual export growth of 11.9 per cent over the next five years to attain the target of one per cent share in global trade. "This is achievable with the cooperation of trade and industry'', he said.

Speaking at a meeting of the Board of Trade during which wide-ranging pre-exim policy consultations were held for over three hours, he agreed with members on the need to reduce transaction costs and ensuring a hassle free policy environment for external trade. The new five-year Export-Import Policy (2002-2007) would be unveiled by Mr. Maran on March 31.

Mr. Maran stressed the importance of international trade as an effective instrument of economic growth, employment generation and poverty alleviation. He said it should be treated as an integral part of the country's economic endeavours and not just a residual activity. "The time has come to move from policy to implementation'', he said adding that States would have to play a crucial role in this process.

He expressed the hope that the 18 per cent export growth seen in January this year would be sustained in February and March to enable the country to achieve the revised target of 3 per cent growth during the 2001-2 financial year.

Earlier, the Commerce Secretary, Dipak Chatterjee, said the January export figure was not a mere flash in the pan.

The growth rate would have to be sustained not only for the rest of the current fiscal to allow the country to achieve the three per cent target but also to achieve the annual growth rate of 11 per cent projected in the medium term strategy.

Underlining the importance of marketing, the members said that the forthcoming policy should incorporate marketing strategies for identified markets and products over the next five years.

The vice-president of the Federation of Indian Export Organisations (FIEO), S.K. Saraf, urged the setting up of a trade centre in Mumbai and also suggested that the DEPB scheme be continued as it alleviated the high incidence of transaction costs. Tarun Das, secretary-general, Confederation of Indian Industry, said the policy should have a clear strategy in the emerging global context.

He also proposed integration of tariff policy and exchange rate policy with the intervention of the Commerce Ministry to improve competitiveness of Indian industry.

The president of the Federation of the Indian Chambers of Commerce and Industry (FICCI), R.S. Lodha, urged effective implementation of policies through the setting up of an inter-ministerial committee.

He also felt continuous monitoring of the special economic zones was needed to remove obstacles and speed up implementation.

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