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Saturday, September 12, 1998

Exports growth reviving: Hegde

ENS ECONOMIC BUREAU  
MUMBAI, SEPT 11: The sluggish growth in exports during the last five months of the current fiscal is showing signs of revival with the month of July showing a positive growth of 8 per cent, said Union Minister of Commerce Ramakrishna Hegde.

``I think for the rest of the fiscal, we will be able to post a positive growth as compared to three per cent decline in the first quarter of the current fiscal,'' he said here today. Lack of adequate infrastructure and procedural confusion have been a bane on exports. However, several measures undertaken by the union government to boost exports have started yielding results, he said.

The ministry would computerise procedures to leave no scope for human interference. The commerce ministry is now working on a medium and long term programme to boost exports so as to achieve a growth of 20 per cent, the minister said in his address to the Bombay Chamber of Commerce and Industry (BCCI).

Accepting the BCCI blueprint on international trade prepared by the Hindustan LeverChairman, K B Dadisheth, he agreed that ``exports should be declared a national priority with an action plan drawn out.''

``I would ask the Prime Minister to convene a meeting of chief ministers and state finance ministers to chalk out a strategy to maintain parity in taxes which would also ensure that state governments are not divested of the legitimate revenue due to them and there was no evasion of taxes,''.

Hegde said the commerce ministry would be soon renamed as the Ministry of International Trade in order to focus on developing trade and commerce with the international markets, he said.

Hegde also kicked off the four-day 14th India International Jewellery Show (IIJS-98). The show will continue till September 14. IIJS-98 has been sponsored by the Gem & Jewellery Export Promotion Council (JGEPC). This is the second such show. The first was held at Pragati Maidan in New Delhi from March 18-22, 1998. Over 200 participants will exhibit their gold and diamond jewellery products at the show.

Copyright© 1998 Indian Express Newspapers (Bombay) Ltd.


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