Good Show By Exports Despite Odds

New Delhi, Nov 7: | Updated: Nov 8 2003, 05:30am hrs
Exports have managed to sustain a double digit growth during the current fiscal so far despite hardening of the rupee against the American dollar and the adverse external factors, including slowdown in some of the worlds major economies, commerce and industry minister Arun Jaitley has said.

Presenting awards for outstanding export performance at a function organised by Chemicals and Allied Products Export Promotion Council in Delhi on Friday, Mr Jaitely described the current fiscal as a challenging year for exports. He complimented the award winners for their entrepreneurship and enterprise.

The minister also underlined the role played by exports as a source of employment and revenue generation. Unless we are able to provide a level-playing field for our exporters vis-a-vis our overseas competitors, the competitiveness of Indias exports in the global market will be affected. We will, therefore, take all steps necessary to make our exports competitive, he said.

In this context, Mr Jaitely welcomed the announcement made by labour minister Sahib Singh Verma exempting special economic zones from contribution to provident fund and employees insurance scheme as a step in the right direction which would serve as a significant incentive for attaining a quantum in exports .

Commerce secretary Deepak Chatterjee congratulated the councils award winners and said that their success would motivate other exporters to perform better.

Council chairman MF Vohra informed that exports under the council had registered an impressive 17.7 per cent growth at $ 3.89 billion during the last fiscal. During the first quarter of the current fiscal, these exports had registered a 18.7 per cent growth over the previous corresponding period.