Observing that the transaction costs for exporters in India are very high, Shri Kamal Nath proposed certain additional measures such as bringing of Advance Authorization Scheme and EPCG Scheme under the EDI from 1st July, 2008; treating of all EDI ports as single port where there is no requirement of TRA under the Advanced Authorisation Scheme; payment of duty under EPCG scheme through debit of duty credit from 1st January 2009; reduction of application fee for duty credit scrips and EPCG authorization from Rs.5 per thousand to Rs.2 per thousand; reduction of application fee for importer and exporter code from Rs.1000 to Rs.250; reduction of fee for supplementary claims from 10% to 2%.
Noting that there are still many structural problems to be addressed, Shri Kamal Nath announced the setting up of a Joint Task Force (JTF) to plan an integrated strategy to tackle these issues.
The JTF will have representatives of the Central and State Governments, local bodies, industry and exporters to evolve a detailed action plan to achieve this objective.
The JTF will be mandated to look at (1) development of world-class infrastructure to facilitate trade involving an investment of over $ 800 billion; (2) measures to ensure trade facilitation through EDI to match world-class standards; (3) development of global manufacturing hubs in selected sectors such as auto-components, gems & jewellery, textiles, petro-products etc; (4) development of global services hubs in IT , KPO, industrial design, R&D and product testing; (5) development of a chain of sector-specific skill-development institutes; and (6) encouraging e-commerce through e-governance.
Shri Kamal Nath said that the government views Special Economic Zones (SEZs) as vehicles of industrialization and employment generation. Underling that SEZs currently provide employment to more than 2.8 lakh people and the projected exports from SEZs would reach Rs.1,25,000 crore by this year, the Minister emphasized the validity of the basic policy relating to SEZs.
Press Information Bureau Government of India
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