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Foreign Trade Policy to give fillip to exports, AEPC Chairman

23
Apr '08

In a Press release on the Annual Supplement of the Foreign Trade Policy, Chairman AEPC said that the Garment Industry expects Trade Policy to boost exports - Hopes to achieve atleast 10% growth in 2008-09.

The Trade Policy Announcements made by the Hon'ble Minister of Commerce has enthused hope amongst the garment exporters of a speedy recovery in garment exports this year.

AEPC would like to compliment the Minister for candidly addressing issues like refund of State Levies and infrastructure bottlenecks, which have been a major concern of the exporting community for a long time.

It is also assuring to note the continuation of incentive schemes like extension of DEPB, interest subvention and income tax exemption to EOUs. The reduction of 2% in custom duty payable under EPCG scheme will also be beneficial for the exporting community.

The Minister has also promised to look into the Council's request for formulation of a special package for the garment industry to achieve the potential before the industry.

Apparel exports can minimize the demand shocks it has been facing due to slump in demand in major markets by diversifying in to new markets and products.

In this regard, the suggestion to link the Focus Product Scheme with Focus Market scheme will go a long way in more focused export promotion of required product categories.

AEPC hopes to improve the market share in important markets like Japan and CIS countries and products like Man Made Fiber apparel and kidswear through such schemes.

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