India's exports to cross $92 B target for 2005-06

By agencies   |   Friday, 24 March 2006, 08:00 Hrs
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NEW DELHI: India's exports are growing at 20 percent an year and will cross the target of $92 billion set for 2005-06, according to the annual report of Commerce Ministry released today.

During 2005-06, the Ministry announced various measures such as removal of export cess on farm products, extending benefits under the Vishesh Krishi Upaj Yojna to poultry and dairy products and simplified procedures to boost export growth, an official release said.

The country's first Free Trade Warehousing Zone at Haldia in West Bengal has recieved in-principle clearance from the Center as a joint venture between MMTC and IL&FS, it said, adding the zone is likely to become operations by the middle of this year.

The government also announced and made operational the Special Economic Zone Act as part of efforts to attract private investment, the release said.

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