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Continuation of stimulus subject to allocation to MoC

24
Feb '10
Continuation of Stimulus package for exporters in general and that of textiles and handloom in particular will henceforth be subject to budgetary allocations of Finance Ministry for Ministry of Commerce & Industry for fiscal 2010-11 since economy is now in for recovery with industrial production picking up, exports showing acceleration and GDP growth likely to be close to 7.5 per cent, says State Minister for Commerce & Industry, Mr. Jyotiraditya Scindia.

Inaugurating ASSOCHAM-IMC Exhibition-Conference on `Women Entrepreneurs', Mr. Scindia said that Commerce and Industry Ministry favored that stimulus package for stressed segments of exports should continue until these come out of recessionary modes.

The Commerce and Industry Ministry has already urged the Finance Minister, Mr. Pranab Mukherjee that he should maintain amount of yearly budgetary allocations for Ministry of Commerce and Industry at levels extended in the Budget of 2009-10 to enable the Ministry to extend relief measures for stressed sectors in next fiscal.

“It depends on the Finance Minister if allocations are good enough, the Ministry of Commerce and Industry will continue to extend fiscal relief to concerned stake holders in textile, handloom and exporters in areas that fall under domain of the Ministry. Such incentives would be in addition to fiscal and excise benefits that the Finance Ministry allocates for industry in general for next fiscal”, stated Mr. Scindia.

The Minister also promised slew of measures in the forthcoming Foreign Trade Policy to be unveiled by Commerce and Industry Minister in next few weeks so that weavers and preservers of Indian cottage, small and tiny industries are given sufficient protection.

According to him, the emphasis would be laid in the National Foreign Trade Policy to take markets to weavers and artisans so that their work is sufficiently rewarded and weavers and artisans are prevented from running pillar to post to sell their products.

Mr. Scindia and Dr. Swati Piramal, ASSOCHAM President gave away 10 Women Entrepreneurs' awards instituted by ASSOCHAM and IMC for promotion of domestic weaving and saree makings. The Heritage weavers awards were given away to Ms. Sally Holkar, Ms. Jamini Peyany, Ms. Rashmi Prasanth Tapadia, Ms. Pooja maheswari, Ms. Shamlu Dudeya, Ms. Ahalya S. Sarangi, Ms. Sunita Burad, Ms. Sulochna Salvi and Ms. Afroz Jahan.

Among well known women entrepreneurs present on the occasion comprised Ms. Pratibha Advani, Ms. Pia Singh, Princess Diya Kumari, Ms. Anuradha Prasad, Ms. Kavita Bhartia, Ms. Latika Dikshit, Ms. Manik Karanjawala, Ms. Sangeeta Bijlani, Ms. Sara Pilot, Ms. Shweta Nanda, Ms. Supriya Sule, Mrs. Sheila Kriplani, President, IMC Ladies Wing, Ms. Sheetal Ansal and Ms. Rashmi Jolly.

Associated Chambers of Commerce and Industry of India


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