Time-bound action key to success: Chambers

even as the chambers described the new exim policy 2002-07 as positive and pro-growth, they cautioned the commerce minister that time-bound implementation and cooperation from the states would be the key to achieving the target of taking india’s share of world trade to 1 per cent. the apex chambers seem to be particularly pleased with maran’s initiative to reduce transaction cost and procedural delays, which they feel would improve the competitiveness of indian exports. according to cii, the policy focus on procedural simplification in the various export promotion schemes and rebating fully the incidence of duties and facilitation of exports at the ports and dgft offices through better co-ordination would improve the competitiveness of the exporting community. hailing the special focus on development of sezs, export houses, industrial clusters and eous, the cii said that these would help in propelling economic activity and promoting exports. complimenting the commerce minister for recognising international trade as an effective instrument of economic growth, employment generation and poverty alleviation, ficci president r s lodha regretted that crucial issues relating to flexible labour laws, specially in the context of sezs and issues pertaining to infrastructural bottlenecks, should also have been addressed in the exim policy. commenting on the move to allow setting up of overseas banking units within the special economic zones with no crr and slr obligations, lodha said this would encourage lending to units in sezs at internationally competitive rates. it could result in some our cities emerging as the nerve centre for financial and trading activities in the near future, he said. assocham president k k nohria said, �the policy announcements are extremely positive, encompassing all sectors, giving rise to expectations of a 12% export growth every year for the next five years." he complimented maran for specially focusing on agri-exports, handicrafts and other traditional and non-traditional products, strengthening of sezs and identifying focus zones/countries in asia and africa. arun kapur, president phdcci said that the policy was in line with industry expectations and it will help the industry to plan ahead and give stimulus to export growth. s k saraf, veep, federation of indian export organisations finds the policy growth oriented and progressive. he said that the new exim policy would help in bridging india’ s trade deficit, which went up to us$5.5 billion during april-october 2001.