Chambers in praise of Kamal Nath

New Delhi, Apr 19 (UNI) The exporting community joined by the Chambers today sang a song in praise of Union Commerce and Industry Minister Kamal Nath and the loud chorus said the new foreign trade policy will set exports on a higher growth trajectory and create large-scale employment.

It was praise all the way with trade and industry complementing the Commerce and Industry Minister for his farsightedness in announcing steps to combat the problem of a strong currency posing a threat to exports. Yet, they wanted more from him.

They desired that the Central Bank interventions be made more effective and that export credit be given in an increasing manner to small and medium manufacturers.

The thrust to agri-exports, handlooms, handicrafts and organic substances was the right thing to do, they said.

Also, the enlargement of the Focus Product and Focus market scheme, exempting exports from service tax, the scheme to propel hi-tech products as also easing of export obligations under the EPCG scheme came in for praise.

Notwithstanding the fact that the SEZ are mired in controversies, the exporting community was one with Mr Nath in pushing through the remaining projects as it was the only short cut to higher exports and a faster pace of industrialisation.

FICCI President Habil Khorakiwala said it was a dynamic policy presented by a dynamic Minister and will give a big push to India's exports. Besides, the policy will enhance brand India, which is now too well known not only in the West, but in other countries as well.

CII President R Seshasayee said the trade policy will promote inclusiveness and hi-tech industries.

Assocham President Venugopal N Dhoot said Mr Nath was right in his belief that India should only export goods and not taxes and duties.

UNI