Financial Daily from THE HINDU group of publications
Thursday, Oct 13, 2005
Financial Daily from THE HINDU group of publications Thursday, Oct 13, 2005 |
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Industry & Economy
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Exports & Imports Kamal Nath to meet chiefs of export promotion councils K.R. Srivats
New Delhi , Oct 12 THE Commerce and Industry Minister, Mr Kamal Nath, will hold a meeting with chiefs of various export promotion councils (EPCs) and commodity boards on October 18 to review the country's export performance during 2004-05 and analyse the emerging trend for exports in the first half of the current fiscal. Official sources said that the trade data for the first six months are expected to be ready in the next few days, adding that the performance for this period is likely to be discussed on October 18. This meeting would give an opportunity for the EPCs to provide inputs to the Commerce Ministry for its pre-Budget memorandum, a senior official from an EPC said. Indications are that important issues such as tax treatment of export profits and the status of the proposed scheme to replace the duty entitlement passbook (DEPB) scheme may come up for discussion at this meeting. In the first five months of the current fiscal, the country's merchandise exports grew by about 23 per cent to $35.76 billion against $29.08 billion during April-August 2004. For 2005-06, the target for merchandise exports has been pegged at $92 billion. Merchandise trade (exports and imports) during 2004-05 stood at $185 billion (exports of $80 billion and imports of $105 billion). On August 31, 2004 the Government had spelt out a vision to double India's share in world trade within five years. The country's share in world merchandise exports stood at 0.82 per cent in 2004.
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