labels: trade, governance
Trade leveraging policy to push exports on anvil news
Our Economy Bureau
03 September 2004

New Delhi: A day after doling out sops to exporters, commerce and industry minister Kamal Nath today said that the government would bring out a trade leveraging policy apart from a special package for textiles, tea and coffee sectors to further push up exports.

"India is one of the few countries in the world which will have incremental growth in its human skill resources in the coming years. We have never leveraged trade. I am going to work on trade leveraging policy. We have to see trade not only as a foreign exchange earner but also as a net employment generator," Nath said at a FICCI seminar on the foreign trade policy.

Since the multi-fibre agreement is coming to an end in 2005, the minister said that the government would look at the entire textile chain and come out with a textile policy.

Nath said that his ministry would also organise a seminar on textiles in the next one month to discuss issues emerging in the post quota regime.

Stating that the days of government subsidising inefficiency were over, Nath said that the industry would have to match the strength of its competitors in order to achieve a quantum jump in its exports.

He said issues like the inverted duty structure needed to provide a level playing field to the domestic industry particularly under regional and bilateral agreement would be addressed soon.

The minister also admitted that infrastructure was the weakest link in the export chain but assured the industry that providing infrastructure facilities was a priority for the government.

Noting that the foreign trade policy contained various measures for agro sectors like floriculture, he said the government was now looking at providing a special package to tea and coffee sectors.

Speaking at CII, the minister said that he had convened a meeting with the tea industry on the September 16-17, 2004. Nath said India should play offensive in the agriculture sector and treat it as one of the major thrust areas to achieve high export growth.

The minister asked CII to prepare a paper on deemed exports and project exports. He said the government would consult the industry in the setting up of the board of trade. Terming fruits, flower and vegetables as sunrise areas for export, the minister said the government would consider formulating separate policies to push their exports.

 search domain-b
Trade leveraging policy to push exports on anvil