Announcing the foreign trade policy on Thursday, Commerce Minister Anand Sharma said it aims for an export target of $200 billion by March 2011. The policy aims an annual growth of 15 per cent in exports in 2010-11. India's exports had reached $168 billion during FY09.
The policy measures are targeted for a two-year period. He said that the policy measures would give a special thrust to employment-oriented export units. To promote exports, he said six 'Made in India' shows to be organised each year. The minister said the country is committed to successful conclusion of Doha round of WTO talks and sought diversification of export markets to emerging markets. The exports suffered due to demand contraction in export markets, he said. Moreover, protectionist measures are causing barriers to free trade, he added.
The trade minster said the interest subvention and the Duty Entitlement Pass Book schemes would be continued. The DEPB scheme would continue till December 2010. The policy has also earmarked additional resources under market access schemes. In other measures, the E-trade project would be implemented and a Directorate of Trade Remedial Measures would be also set up. The status holders have also been permitted to import capital goods at zero duties.
And the zero per cent Export Promotion Capital Goods scheme for specified sector has been extended up to 31 March 2011.He also said that India's total share of global goods and services exports stood at 1.53 per cent and India’s share of global merchandise was at 1.28 per cent. He also said that the government has notified 325 special economic zones.
****
No comments:
Post a Comment