New Delhi, Dec 24: With exports at $20.7 billion during April-October, the export growth has touched the double-digit figure in dollar terms. Foreign direct investment (FDI) was in the region of Rs 20,703 crore of which the actual flow has been of Rs 6,430 crore in the same period.According to an official release on Friday, the sectors which have registered a positive growth are ores and minerals, chemicals and related products, engineering goods, gems and jewellery, textiles, carpets.
Engineering goods, which were lagging behind last year, have picked up.An export growth of 11.3 per cent has been targeted for the current fiscal. The government has claimed that spurt in exports is due to various measures that were introduced to increase competitiveness of exporters.
The measures include, strengthening of the export promotion capital goods (EPCG) scheme for improving production; introduction of annual advance licensing schemes, issuance of advance licences on the basis of self-declaration, and rationalisation of the schemes for the export-oriented units and export processing zones with a view to improving availability of duty-free raw materials and reducing transactional costs.
There has been a consistent effort to deregulate and simplify procedures, remove quantitative restrictions in a phased manner and strengthen the export promotion schemes, the official release says. Services export has been brought in the ambit of exim policy. The government has approved 305 proposals involving a total investment of Rs 8,023 crore since it was voted back to power, the release says.
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