New Delhi: Commerce and Industry Minister Kamal Nath
yesterday said that the government will work out a foreign
direct investment (FDI) policy aimed at pushing up exports
and increasing job opportunities. A new Exim Policy focusing
on procedural simplification and reduction of transaction
cost is likely to be announced by end-June or early July.
will have a new FDI policy, which will increase exports
and generate employment. If required, we will build special
mechanisms to generate employment," Kamal Nath said,
in his first interaction with the media after assuming
minister Manmohan Singh would decide whether the Foreign
Investment Promotion Board (FIPB) would remain with the
finance ministry or return to the department of industrial
policy and promotion, he added.
out the government intervention to prop up the rupee,
he said he would take up the matter with the finance ministry
to ensure that the Reserve Bank of India or the government
stepped in whenever required.
government would strive for a double-digit export growth
on a sustainable basis, increase in agricultural exports
and greater income for farmers, as opposed to traders,
the minister said.
create an enabling climate for promoting exports, the
board of trade would be reconstituted and an advisory
group of 25-30 top exporters would be set up in the ministry,
indicated that the country''s stance on bilateral and multilateral
trade negotiations would remain largely the same though
the focus would be on ensuring that the agriculture sector
was not affected.
minister said India would continue with its partnership
with developing countries under the G20 umbrella on agriculture.
is not merely an occupation but a way of life in India.
We are committed to protecting farmers'' interests and
will try to see to it that the focus is India-specific
in agriculture," he said.
government would go ahead with the proposed legislation
for special economic zones, but he did not commit on a
special dispensation on labour laws in these zones.
said efforts would be made to see that the sector, which
was the second highest employment provider, could help
in tackling the problem of unemployment.