MUMBAI, April 13: Leading industry and export associations have applauded Commerce Minister R K Hegde for presenting an Exim Policy which will put exports back on high growth track. Some pointed out that competition would be fierce owing to the fact that the government had pushed 326 items into the open general licence, and that domestic industry in these sectors would be hard put to survive. But the setting up of the anti-dumping cell would go a long way towards protecting industry, on the other hand, some said.The most oft-repeated compliment for the commerce minister was that he had presented a balanced exim policy. D D Rathi, Senior President, Indian Rayon said: "The decision to place 340 new items under open general licence will spark off intense competition as it will lead to an increase in the imports. Domestic industry will find it difficult to survive in the changed scenario. The setting up of anti-dumping cell is welcome. The cell should try to reduce the delay in the anti-dumping procedures,which is causing severe hardships for the industry."
The continuation of DEPB scheme will definitely benefit the industry. The minster's willingness to seek the view of the top 500 corporate houses to chalk out ways to improve export growth is a welcome step. The only area of concern is the introductuion of 326 new items under the OGL, which will not augur well for the domestic producers.
Advisor, Videocon group, Shekhar K Shelgikar said that the the policy has created an impression that the commerce ministry is trying to achieve a balancing act. Federation of Indian Export Organisations (FIEO) president Ramu S Deora welcomed the steps taken to simplify the various procedures. He said the the exporting community would be able to devote its full time in increasing exports, rather than dealing with procedural hassles.
Deora said with the provision for setting up of private bonded warehouses, small and medium scale exporters will be able to draw ready stock material duty-free against advance licenses andon payment of duty against specific licenses.pThe Confederation of Indian Industry has said that the 1997-2002 Exim Policy will put the country back on its export growth trajectory of 20 per cent.The CII president N Kumar said that it was a great export-import policy especially in the back drop of a dismal export performance would deepen, broaden and accelerate the process of export reforms. Federation of Indian Chambers of Commerce and Industry president K K Modi, however, stated the amended Exim policy does not address a number of problems faced by the exporters and manufacturer of exports.
M R Bhansali, vice chairman, Gem & Jewellery Export Promotion Council, has termed the new Exim policy as ``positive and encouraging''. The policy has been finetuned with respect to export of rough diamonds, setting up of private/public bonded warehouses, among others, Bhansali said.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
