India sets up promotion body for export units

Thursday, 23 January 2003, 08:00 Hrs
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NEW DELHI: India has set up a separate promotion council to assist about 2,300 export-oriented industries in the country.

The commerce ministry Wednesday announced the setting up of the Export Promotion Council (EPC) for export-oriented units (EOUs).

"The council would specifically cater to the needs of export-oriented units and special economic zones (SEZs), which have over 2,300 operational units spread across the country, provide direct employment to over 700,000 people and have 13 percent share in the national exports," said A.R. Veeramani, chairman of the EPC for EOUs.

The export earning of this sector in 2001-02 was 280 billion, registering a growth of 14.66 percent over the previous year, and compared very favourably with the national export growth of only 2.1 percent in the same period.

EOU/SEZ units cover major industrial sectors like textiles, garments and yarn, food and agro products, electronics and software, chemicals, engineering, minerals and granites.

The new council has set an ambitious roadmap to achieve and contribute 25 percent of the national exports through the manufacturing sector by 2007.

"In the next couple of years this sector is looking to achieve $10 billion exports," said Veeramani.

The council is planning a series of seminars in Hyderabad, Jaipur and Delhi to create awareness and provide assistance to the export units.

The new council is part of India's strategy to boost its share in global trade from around 0.6 percent to one percent by 2007 with a compound export growth of over 12 percent.
Source: IANS
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