Annual EPCG will benefit all segment of industry, FIEO

23 Aug '10

1 min read

Welcoming the changes announced in Annual Supplement to Foreign Trade Policy by Commerce and Industry Minister, Mr Anand Sharma, Mr A. Sakthivel, President Federation of Indian Export Organisations (FIEO) said that the focus of the changes have been on continuity of theexisting schemes, support to labour intensive sectors such as leather, handicrafts, handlooms, tea, certain engineering products, textiles, silk carpets, marine, toys & sports goods, and reduction of transaction cost and time by simplifying procedures and streamlining decision making.

Extension of DEPB for six months and zero duty EPCG &SHIS for one year and their extension to additional sectors such asrubber, chemicals, sports goods, marine and toys will benefit these sectors.

Annual EPCG will benefit all segment of industry. Allowing anti dumping duty for Annual advance authorisation, single notification for deemed exports and physical and self certification under 4.7 will provide relief from transaction cost to exporters.

President, FIEO concurred with the views of the Commerce Minister that global recovery is still fragile and uncertain and therefore Government should constantly review the situation with a view to fine tune its policies to address the emerging concerns.

Federation of Indian Export Organisations (FIEO)

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