Ministry of Commerce focuses on handloom & handicrafts industry

20 Apr '07

3 min read

The last three years had seen a staggering 725% increase in FDI inflows up from US $2.22 billion in 2003-04 to US $16 billion in 2006-07, he said, adding that the directional flow of FDI into manufacturing and export of goods and services was contributing immensely to the country's export efforts.

Announcing a series of measures to boost exports of agricultural products from India, Shri Kamal Nath said that the scope of Vishesh Krishi and Gram Udyog Yojana (VKGUY) was being expanded, to include exports of value-added variants of several agricultural and forest products including coconut oil, soyabean oil, potato flakes, meals & flours, cardamom, food preparations like soups, sauces, artistic wooden furniture, herbal extracts of forest products, malt and minor forest produce, etc.

Providing a further push to export thrust sectors, the Minister announced duty free import of tools, machinery and equipments for handicrafts and gem & jewellery sectors. To facilitate the certification of diamonds as a pre-requisite to ensuring quality and competitiveness of exports, the testing facility at Dubai has been included in the approved list of certifying agencies.

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Press Information Bureau

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