KAMAL NATH TO TAKE UP WITH FM ALL PENDING EXPORT-RELATED ISSUES
Date : 25 Jun 2004
Location : New Delhi
Shri Kamal Nath, Union Minister of Commerce & Industry, is taking up with the Finance Minister all pending export-related issues, which could not be resolved in the last couple of years. This was indicated by the Minister at a meeting held here last evening with representatives of the Export Promotion Council for Export Oriented Units (EOUs) and Special Economic Zones (SEZ) units, the latest in his series of pre-Budget and pre-Exim policy interactions with exporters. Shri Kamal Nath asked the Council as well as his officers to list out all such issues requiring intervention at his level with the Finance Ministry in the run up to the Budget. These include issues before the Central Board of Direct Taxes (CBDT), Central Board of Excise & Customs (CBEC) and Banking.
It was indicated during the meeting that total exports from EOUs and SEZs from India during 2003-04 was Rs. 41,368 crore (or US $ 9.19 billion). SEZs have shown a growth of over 40% and EOUs, a growth of 20% last year. Average net foreign exchange earning by the EOU and SEZ sector is approximately 65%. The EOU and SEZ sector provides direct employment to over 3.14 lakh people.