New exim policy to focus on export led growth

chennai: the new exim policy to be announced on march 31 will categorically focus on a course of export-led growth for the country''s economy, union commerce minister murasoli maran said on saturday. the minister, adressing an "open house meet" with exporters here, said though it was a fact that the country''s economy had acheived the much needed export orientation in recent years, the ultimate objective of an export led growth was yet to be realised. as part of the centre''s added thrust on involving the states in export promotion, he said the cabinet had of late approved an outlay of rs 330 crore for encouraging states in this crucial front during the year 2002-03. the minister said the new exim policy would also embark upon further simplification and rationalisation of procedures with a view to taking the country''s share of international trade from the present 0.6 per cent to at least 1 per cent. it was also targeted to take the indian exports to $80 billion from the present $45 billion in the 10th five year plan period. he said exports, which registered a growth of 20 per cent during the last fiscal, had been declining this fiscal mainly due to the recession and the september 11 terrorist strike in the us. "however, it is heartening to note that the exports have picked up of late and the growth rate as on janauary last was 18 per cent," he added.