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Drumbeat: Ad Buzzaar
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Saturday, July 25, 1998
Chemexcil welcomes setting up of cabinet committee
The basic chemicals, pharmaceuticals and cosmetics export promotion council (Chemexcil) chief Ramu Deora has welcomed the setting up of a cabinet committee on foreign trade to be headed by prime minister AB Vajpayee for accelerating exports to achieve the 20 per cent growth for this fiscal.He said in a statement on Friday that this was a timely and pragmatic step taken by the government in the backdrop of negative growth of 17 per cent in exports during may. An integrated approach was necessary and all concerned ministries should treat exports as a national priority, Deora said. He felt that the weakening signs of the economy reflected in the sluggish growth and worsening fiscal deficit, called for bold economic reforms to revive the country's economy and sector-specific and country-specific promotion package to boost exports. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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