The minsiter for Commerce, Mr. Murasoli Maran, has indicated that the exim policy would be exporter friendly and will bring about great amount of deregulation in the export sector through simplification of procedures and removal of bottlenecks. The minister indicated this to a delegation of industry leaders who also requested the minister to influence the finance ministry to postpone the phase out of Section 80HHC of the Income Tax Act.

On its part, the Exim Bank has called for a sound and stable fiscal policy, clear investment laws, freedom from forex restrictions and business-friendly labour laws that will strengthen the export processing zones. A call was also made for India to emulate some of the successful models of export promotion zones and free trade zones in the world.
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