New Delhi, Apr 11 (UNI) The government today said it will set up an export promotion council in a bid to give a push to the country's fastest growing telecommunication industry.
Unveiling the Annual Supplement to Foreign Trade Policy 2004-09 here today, Commerce and Industry Minister Kamal Nath said, '' the new export promotion council will provide institutional support to exports from the telecom sector.'' The country's expertise in IT software is internationally established, he added.
The fast growing telecom sector is the only one chosen by the Minister for purposes of setting up of such a Council.
The industry players expressed their happiness over the government's decision of setting up the Council.
''A telecom EPC was long overdue given the rapid expansion of this sector in the last few years and I am happy that this will pave the way for higher telecom exports from India,'' CII President Sunil Mittal said.
Ficci said the announcement of setting up the export promotion council for the telecom industry will be vital for modernisation of the manufacturing sector and accelerating the exports.
Emphasising the need to strengthen the country's manufacturing and export capabilities in the IT hardware sector, the Minister said the specific items of this sector will be made eligible under the High Tech Product Export Promotion Scheme.
''Funds would also be specifically earmarked for this sector under the ongoing MDA and MAI Schemes,'' he said, adding that IT sector would be brought under the special focus initiative this year.
Under the Industrial Park Scheme administered by IPP, the Foreign Trade Policy has also included IT, ITES and R&D in natural sciences and engineering as industrial activities permitted in the Parks.
UNI SBA MP RN2051