Corporate Results of over 2500 companies Thursday, November 18, 1999
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REUTERS & AGENCIES  
Handicrafts exports to touch new high
Export of Indain handicrafts is expected to cross an all-time high of Rs 8,000 crore during the current financial year. Assistant director, ministry of textiles A K Agnihotri told reporters on Tuesday in Kanpur that handicrafts worth Rs 7,500 crore were exported from the country to different countries in 1998-99 and a higher target of export of over Rs 8,000 crore had been fixed for the current fiscal. "We are all set to achieve the target," he said. He said as many as 75 lakh artisans produce items which are sold for over Rs 31,000 crore per annum.

He said India was counted among the key suppliers of handicrafts in the world market and there was every possibility of increasing its share in the global market if proper developmental, promotional, social and legal measures were taken. Among the major importers from India were US, UK, Japan and Germany.

Changes in textile policy sought
Powerloom Development and Export Promotion Council (PDEXCIL) on Tuesday called for effecting many changes in the textile policy to protect the industry, which, it said, had to face many challenges due to implementation of WTO. Reacting to the recommendations made by Sathyam committee, pdexcil chairman, M S Mathivanan said that there was a need for removal of differences in various sections existing in the present textile policy, by taking a flexible approach to adjust to the changing scenario and also to provide facilities for the workers. even if there are some inconveniences to some parties, they should bear the same considering the overall welfare of the textile industry," Mathivanan said in a release here. Saying that import of 18 per cent of total textile varieties have been allowed underGATT,Mathivanan said that another 17 per cent would be allowed to be imported in jan 2000, which would affect the industry seriously.

Coir usage in geo-textiles to be tried
The Coir Board in collaboration with the Kerala Agricultural University has launched a three-year-long application research project on the use of coir geo-textiles at the soil conservation research station at Konni. Coir Board chairman Christy Fernandez, who launched the four branched project on Tuesday, estimated to cost Rs 45 lakh, later told reporters that the "coir geo-textile" had a pivotal role to play in preventing soil erosion. He called upon the governments and local bodies to come forward to utilise the coir geo-textiles in an eco-friendly manner in this direction.

Pak to export jet fuel, gasoline
Pakistan will export up to one million tonnes per annum of jet fuel and gasoline combined, after the start-up of a new refinery next year, a senior government official said on Wednesday. The ministry of petroleum and natural resources G A Sabri, director-general of oil, told Reuters the Mid-Country Refinery Project was slated to begin in September. "When the refinery is roughly full capacity, we will have surplus of around half-a-million tonnes per annum of each product (jet and gasoline) for exports," Sabri said. MCRP would be Pakistan's largest refinery with 4.5 million tonnes per year capacity.

Food industry for import curbs
Indian food standards needs to be realigned with international laws to provide a level-playing field to Indian companies which are facing uneven competition from unrestricted imports of value-added food itmes, Confederation of Indian Food Trade and Industry (CIFTI) on Wednesday said. "There is an immediate need to align Indian food standards to international ones as further delay might lead to serious trade restrictions and loss of Indian brand equity in the near future," CIFTI president N M Kejriwal said.

Easing of quantitative curbs had opened a floodgate of imports of food articles in India, and the government should amend the Prevention of Food adulteration Act to enable domestic companies to produce goods matching international quality, he told reporters. "As a number of additives and ingredients used by foreign firms are not allowed in India, the domestic companies are at a disadvantage, he said.

Unleaded petrol by March
Petroleum minister Ram Naik said on Wednesday that unleaded petrol will be available throughout the country by March 2000. "We have taken steps to provide unleaded petrol and hope that our present schedule to ensure its countrywide availability by March 2000 will be adhered to," he told reporters in Mumbai.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

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