While highlighting the achievement during 2004 to 2008, Shri Kamal Nath informed that India's exports during 2003-04 was US $ 63 billion has now reached US $ 162 billion by 2007-08, recording an average annual growth rate in excess of 25%. The Minister added that for this year: “we hope to achieve a target of US $ 175 billion”. As a result of increased economic activity, the Minister said that, there is generation of about 140 lakh jobs in the export sector.
In the last 5 years, around 900 products relating to 10 sectors have been granted benefits under VKUGUJ and 100 products covering more than 10 sectors were granted benefits under the Focus Product Scheme. 763 new 100% EOUs commenced operations taking exports from Rs.23,590 crore in 2002-03 to Rs.1,61,281 crore in 2007-08 leading to employment generation of 323,755 person.
In the Special Export Zones, there have been a phenomenal incremental investment of Rs.97,871 crore and direct employment provided to 231,629 persons. The exports from SEZ during 2005-06 was Rs.22,840 crore and the projected exports for the period 2008-09 would be Rs.90,000 crore, he informed.
In the last 5 years, under the Industrial Infrastructure Upgradation Scheme, 29 projects have been sanctioned throughout the country with an investment of Rs.1770 crore. Most ambitious infrastructure project is of DMIC (Delhi-Mumbai Industrial Corridor) which came with an outlay of US $ 90 billion. The project is expected to double employment, triple the industrial output and quadruple the exports from the region in 5 years.
Ministry of Commerce & Industry
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