New policies in anvil to tap export potential of Eng.goods

Chennai, Aug 10 (UNI) Union Minister of Commerce and Industry Kamal Nath today said the Centre would chalk out new policies for exports of engineering goods and services as it had the potential to provide employment to 37 million by 2009-10.

Quoting a study conducted by Research and Information System (RIS) for Developing Countries in 2004-05, the minister told newspersons here that so far, exports had generated an additional 1.4 million jobs in the country.

" Our exports are not aimed at dollar generation, but at employment generation. Against an export of US Dollar 80 billion in 2004-05, the total employment generation in the export sector was 16 million( 9 million direct and 7 million indirect). It is estimated that in 2009-10 the overall exports would be US Dollar 165 billion, resulting in total employment of 37 million. The total incremental employment generation as a result of increase in exports is expected to be 21 million between 2004-05 and 2009-10", he said.

UNI AJ VV 1704