Cement export ban not to affect SEZs: Nath
The government on Saturday said ban on cement exports, announced to check rising prices, will not impact the SEZ which are considered to be bonded territories by the customs authorities.
By PTI |
NEW DELHI: The government on Saturday said ban on cement exports, announced to check rising prices, will not impact the Special Economic Zones which are considered to be bonded territories by the customs authorities.
"No, the ban will not impact the SEZs," Commerce and Industry Minister Kamal Nath said here at the CII seminar on the Foreign Trade Policy.
Nath said the Directorate General of Foreign Trade has issued the notification banning export of cement. There was a confusion whether the sale of cement from the 'Domestic Tariff Area' to SEZs would attract the ban.
Asked whether a similar ban on steel export was under consideration of the government, Nath said the Steel Ministry was working on the specific steps. The decision would be taken by the Cabinet Committee on Prices meeting next week.
"The message is clear that the government is ready to take whatever steps are required to control inflation," he said.
On export target, Nath said the Indian economy has adequate momentum to sustain growth rate of 22-23 per cent in the export sector. "If we maintain the same growth rate or raise it by one or two per cent, we will reach 200 billion dollars," he said.
The Foreign Trade Policy has set a target of 200 billion dollars export for 2008-09 despite missing the 160-billion target in the previous year when exports totalled 155 billion dollars in the face of rupee rise and US slowdown.
"No, the ban will not impact the SEZs," Commerce and Industry Minister Kamal Nath said here at the CII seminar on the Foreign Trade Policy.
Nath said the Directorate General of Foreign Trade has issued the notification banning export of cement. There was a confusion whether the sale of cement from the 'Domestic Tariff Area' to SEZs would attract the ban.
Asked whether a similar ban on steel export was under consideration of the government, Nath said the Steel Ministry was working on the specific steps. The decision would be taken by the Cabinet Committee on Prices meeting next week.
"The message is clear that the government is ready to take whatever steps are required to control inflation," he said.
On export target, Nath said the Indian economy has adequate momentum to sustain growth rate of 22-23 per cent in the export sector. "If we maintain the same growth rate or raise it by one or two per cent, we will reach 200 billion dollars," he said.
ADVERTISEMENT
The Foreign Trade Policy has set a target of 200 billion dollars export for 2008-09 despite missing the 160-billion target in the previous year when exports totalled 155 billion dollars in the face of rupee rise and US slowdown.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
